Skiracer's stock slopes

[skiracer]

Very good job SKI. I think your positioned very well with SNAK. I like the ABC corrective wave. Almost a text book set up. I hope your rewarded nicely for your efforts!!

Runner,
Thanks for the support. I could use a good one.

[Runner]

Nice pop in SNAK today Ski!!!!

[skiracer]

just trying to see if I got the avatar loaded.

[skiracer]

And The Yankees Winnnnnnnnnn!!!!!!!!!!!!!!! Let's Go Yankees!!!!!!!!

[dmk112]

And The Yankees Winnnnnnnnnn!!!!!!!!!!!!!!! Let's Go Yankees!!!!!!!!

Yea!!! eeehhh yoooooo !!

[skiracer]

Yea!!! eeehhh yoooooo !!

DMK112,
I was hoping that last post would bring another fan or two out of the woodwork. You must have watched that game last night huh? Exciting season and playoffs so far. To bad for Boston though getting swept by Chicago. Some defending champions. Couldn't win the division and couldn't defend their title and get past the initial playoff series. I was only hoping
Schilling would get a chance to pitch and get blown out to end it for them. You know there are a few loyal Red Sox fans up there in New England who post here and are true Yankee haters. Well they still have last year to gloat over but this is the PRESENT!
THE YANKEES WINNNNNNN!!!!!!! THE YANKEES WINNNNNNNN!!!!!!!!
GO YANKEES!!!!!!!!!!!!!!!!

[skiracer]

I;ve been holding the Dec. 12.50 calls on Pets for about a 5 weeks. They report on Oct. 24 an everything is pointing to a decent report. The stock has been up an down between 10 and 11.25 but has kind of held it's own around 10.40/10.60 but no breakout yet. Any thoughts on this chart and pattern.

[dmk112]

DMK112,
I was hoping that last post would bring another fan or two out of the woodwork. You must have watched that game last night huh? Exciting season and playoffs so far. To bad for Boston though getting swept by Chicago. Some defending champions. Couldn't win the division and couldn't defend their title and get past the initial playoff series. I was only hoping
Schilling would get a chance to pitch and get blown out to end it for them. You know there are a few loyal Red Sox fans up there in New England who post here and are true Yankee haters. Well they still have last year to gloat over but this is the PRESENT!
THE YANKEES WINNNNNNN!!!!!!! THE YANKEES WINNNNNNNN!!!!!!!!
GO YANKEES!!!!!!!!!!!!!!!!

Well, officially A-ROD sucks! Grounds out for a double play in the 9th I was so pissed, they need to trade him.

[skiracer]

Well, officially A-ROD sucks! Grounds out for a double play in the 9th I was so pissed, they need to trade him.

DMK112,
I got back to you on the POTW thread by mistake.

[skiracer]

Just an update on Pets. Any thoughts?

[Runner]

Ski, here is a quick look at the weekly group chart. Appears that it is trying to bounce off a little support area and thus far is working. Only 9 stocks that make up the group. Group chart is currently down 4.73% from 07/29. Top performers lately has been OCR-MHS-PETS.

PETS- bumping up against resistance
OCR-just hit new highs a few weeks ago. Nice looking trend
WAG- recently broke down and trying to recover some.
PSMT- running sideways in a range last 18 weeks
RAD- breaking down
LDG- recently hit highs and pulling back some.
MHS- seems to be trying to put in a base
CVS- break down
ECMV-

[Runner]

Here is a Comparison chart between PETS and OCR. The purple line is OCR. This is a daily chart



Here some numbers if you can figure then out. EPS percent change latest year:

LDG 71
PETS 48
RAD 26
WAG 15
MHS 13
CVS 7
OCR -6

[New-born baby]

Pets

I;ve been holding the Dec. 12.50 calls on Pets for about a 5 weeks. They report on Oct. 24 an everything is pointing to a decent report. The stock has been up an down between 10 and 11.25 but has kind of held it's own around 10.40/10.60 but no breakout yet. Any thoughts on this chart and pattern.

Ski,
The PnF target for PETS is $16.80 or so. That's a nice bump for current levels. The weekly chart looks much prettier than the daily. Has met, as Runner posted, a lot of overhead resistance. Somebody or some institution has been selling her down every time she moves up. The daily shows a complex head and shoulders pattern--heavier volume on the left shoulders than the right, two heads, three shoulders on each side.

Some areas of concern for me:
1. This sector has fallen since July 29 a whopping 5%. Certainly not a leading sector at this time.
2. Cup with handles often fail in bearish market conditions (like we have at this time).
3. Bearish markets often 'sell the news'--even if the news is incredibly good.
4. Who is selling PETS down every time it moves up? The individual investor is too small. It has to be a big boy. And will that big boy sell her down with good news?
5. If one goes long here, they are going long into a major moving average: the 50 day. Usually a no-no.
6. The last two days PETS has moved up on low volume: a bearish signal.
7. The $10 mark is quite strong support. She moved up over it today. I would say that Tuesday is quite critical, and will give you a signal whether PETS is going to move up or not. If PETS cannot hold the $10 line, I look for her to fall much lower. I would not want to own her below $9.70, because support is much thinner below that level.

My point is that the daily is quite choppy, and an explosion to the upside is not guaranteed by the chart. Your calls may very well turn out to be a winner, but perhaps some consideration should be taken for an alternate plan should plan A not pan out as expected.

Best wishes to you, Ski.

Here's the daily:

[skiracer]

Thanks guys. I'm still holding the Dec. 12.50 calls an last Thursday I bought some at $9.35. I was watching the screen and the stock was selling at around $9.25 to $9.30 range an I was thinking about what to do when I caught a news release on the MSN Money site that an analyst, Ethel Hill at Ladenburg Thalmann initiated the stock with a buy rating and a target of $14 over the next 12/15 months. The stock started to move up almost immediately an I took a half position in the stock. Still holding the stock and the options and do like it but have to agree with everything that NB said in his post. It seems everytime it starts to run someone starts selling off into the strength. It was up over 11.30 about 3 weeks ago and the Dec. 12.50 options hit around .85 bid and 1.00 asked but never held that level. Perplexing. The daily does look like crap but I like the weekly much better. Looks like a nice cup and handle and hit a channel long last week probably around Wed./Thurs. Right now I don't have an alternate plan if it goes the wrong way. I own 20 contracts at .69 average and 500 shares of the stock at $9.35. I was thinking I could be on shakey ground if I held onto the stock shares with the report coming on 10/25. Right now I could sell the stock with almost $500 profit at todays close and buy the Dec. 10.00 puts for somewhere between .60 bid and .90 asked which would limit my downside if the report was not up to par. Or I could just hold what I have and buy the puts as insurance tomorrow and ride it out until the report. Like NB said in this type of market even a good report might not mean anything. What would you guys do? The calls were up .05 today on 7 contracts. The has been some interest in the calls over the last week with about 300 contracts traded.

[New-born baby]

Here's a plan

Thanks guys. I'm still holding the Dec. 12.50 calls an last Thursday I bought some at $9.35. I was watching the screen and the stock was selling at around $9.25 to $9.30 range an I was thinking about what to do when I caught a news release on the MSN Money site that an analyst, Ethel Hill at Ladenburg Thalmann initiated the stock with a buy rating and a target of $14 over the next 12/15 months. The stock started to move up almost immediately an I took a half position in the stock. Still holding the stock and the options and do like it but have to agree with everything that NB said in his post. It seems everytime it starts to run someone starts selling off into the strength. It was up over 11.30 about 3 weeks ago and the Dec. 12.50 options hit around .85 bid and 1.00 asked but never held that level. Perplexing. The daily does look like crap but I like the weekly much better. Looks like a nice cup and handle and hit a channel long last week probably around Wed./Thurs. Right now I don't have an alternate plan if it goes the wrong way. I own 20 contracts at .69 average and 500 shares of the stock at $9.35. I was thinking I could be on shakey ground if I held onto the stock shares with the report coming on 10/25. Right now I could sell the stock with almost $500 profit at todays close and buy the Dec. 10.00 puts for somewhere between .60 bid and .90 asked which would limit my downside if the report was not up to par. Or I could just hold what I have and buy the puts as insurance tomorrow and ride it out until the report. Like NB said in this type of market even a good report might not mean anything. What would you guys do? The calls were up .05 today on 7 contracts. The has been some interest in the calls over the last week with about 300 contracts traded.

Okay, if I read your post correctly, you are up $500 on the stock, and down about $800 on the options. Objective: to get out of this pinch without any loss. Personally, I have no confidence in this stock via reading the daily, and wouldn't want to trade it myself. So I wouldn't want to stick around. I would just want out.

Plan A: if the stock moves up at all tomorrow, say $.35, that's another $150 to the good on your shares. That also moves up the Dec calls a little bit, and you might be able to cash out on the even.

Plan B: I always figure that if I can't make money here, I can make it somewhere else. I seek to find a better play and take as few lumps here that I have to, but I sure don't want to be a bag holder. Losing $300 is better than losing $1500, or more . . . .

Plan C: When we know which direction for sure: if not long, then short. Should $9.70 fail I'd jump on the bandwagon and short her down. At least check the option chain and perhaps sell a covered put, or sell the Jan 06 calls and take the free money to cover your losses.

Reminder: the PnF chart says it should move up to $16.80 or so. But
I just don't believe it.

Lastly, PETS has been up three days in a row. Check the chart and see how many times PETS has been up four days in a row . . . .







That's right: only twice in the last six months. And that was when PETS was on the move up. So I would expect a down day on Tuesday.