Trades for Friday 5/19

Currently the bears are winning, and soon we will see the “buy-the-dippers” lose hope, which will give the bears another victory. With that in mind I have a few set-ups.




Short

• Gold- GLD is the safest short. GG is a tricky one. Every metal stock you can think of has fallen a lot already, so it’s a little hard to short at these levels.
• Silver- SLW has a lot of “weak holders”, and it’s very sensitive to the price of silver.
• Ethanol- PEIX is a primary short target, so let’s see if we can reach mid 20s. ANDE is flirting with $100. MGPI has more strong holders, but the Cramerites might let this one go.
• Reversals- AMD is overbought in the aftermarket, but we’ll see how well the news holds. I’m willing to short Q in the second hour- the Cramerites have brought this stock up about 4% AH.
• I’m still bearish on internet brokers (especially ISE and NDAQ), as well as the high flyers- TIE, ADM, ERS, DXPE, GROW, JOBS (grrrrr!)

Long

• SHLD had a great quarter.
• STP had a great quarter. I’ll wait for this stock to breakout first.

Day Trades

• ESCL, OLAB, BIDU, HW, Q

I’ll post some day trades on the other site.