11 Stocks For Tomorrow (Wednesday)
By admin on Mar 31, 2009 in stock trading
My new stock screen picked 0 stocks for Monday and 1 for Tuesday (FRP which finished up 22%.) It’s picked 11 stocks for tomorrow which I will list below. The problem with 11 picks is how do I know which one(s) I should play? I need to figure out which factors I should consider when pruning down from 11 stock picks to 1 or 2 (or however many I want.)
11 Possible Longs For Wednesday
PLD $6.50
Looking at PLD’s stocks activity over the last couple of month’s it looks like it may go up to around $7.75 on this trip up. It went up 23% today which is how it got my attention. About one year ago it was around $65.
APL $3.92
It looks to have pretty solid support around $3.75 and it looks like it could hit $5.25 with a nice move up.
UYG $2.61
I don’t have a great feeling about this one looking at it’s chart but a climb over $3.00 seems reasonably likely. It went up 11% today.
C $2.53
Ah yes, I’ve definitely had the idea of getting back into C at some point and now my screener has selected it for tomorrow. A climb back up over $3.50 seems possible but the chart doesn’t really look like it did last time before it burst. I’m not sure. I don’t think I’d buy in tomorrow but I’ll be watching it.
CENX $2.11
I like the chart on this one. It looks a lot like the stocks I’ve recently done well with. I think it could go over $4.00 within the next couple of weeks or so.
GNW $1.90
I don’t like this chart.
ODP $1.31
A climb over $2.00 seems possible. This looks like one I might get into tomorrow if I had the money in my account.
ABK $0.78
I’m looking for a climb over a $1.00 on this one, I’d definitely consider it.
FRE $0.76
I’m concerned that it’s still retracting from it’s previous move up as far as a bigger trend. It was only about 40 cents not long ago.
GGP $0.71
It went up 29% today. Of course that doesn’t mean it might not go up another 75% tomorrow but I do sometimes get scared about getting in after a big gain. I’d probably watch this one tomorrow and go with one of the others on the list.
FNM $0.70
A similar situation to FRE.
Conclusion
Overall CENX and ODP stand out a bit for me, I’d probably go with those two. But I’m definitely very interested in watching all of them tomorrow and seeing what I else I can learn. I’m really still formulating and tweaking this strategy.
As of 12:22PM both CENX and ODP are up from yesterday’s close (both about 6%) and they are both up significantly from this morning’s open.
But the question is: How would I have actually played it with such a scary opening?
admin | Apr 1, 2009 | Reply
The other 9 as of about 12:30:
PLD: -1.2%
Another awful open, it then swung up and is now headed back down. I could have actually played this for a profit if I had bought on the open and held until it started showing weakness. But is that kind of minute to minute day trading what I want to get into? Maybe it is. But I’m definitely not convinced.
APL: +14%
This one has been up about this high all day so I’m not sure at what price I would have been able to get into it. It wouldn’t have been a good one to play minute to minute because it’s pretty much held that 14% gain steady since it opened.
UYG: +2.3%
This is another awful opener. I could have made big profits with these buy buying off the low opening prices and then selling later on in the day (around noon it looks like in most cases.) But I’m not sure if that’s really a good strategy. Perhaps once the stock starts to show some strength off that morning low I could get in, not at the bottom but close to it. But see playing that kind of game wouldn’t have let me profit properly with APL. But if I had bought premarket (or aftermarket yesterday) wouldn’t I have been scared out of the stock by the morning drop and have actually taken losses?
C: +5.9%
Another one that dipped on the open. Although it didn’t dip as badly as most of the others.
GNW: +2%
Again with the opening dip. To get an idea of how significant that is, I would have an 8% gain on this stock if I had bought it at the opening price.
ABK: +1.3%
Yes, another opening dip.
FRE: -4%
This one had an opening dip too, the only difference between this stock and the others is that it hasn’t recovered from that dip. If I had bought it on the open I’d be close to even.
GGP: -5.6%
Like FRE, GGP hasn’t recovered from it’s poor open.
FNM: -4.3%
This is pretty much FRE’s twin (Freddie Mac & Fannie Mae.)
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All but one of these stocks had an awful opening (APL.) What’s interesting is that if I had bought them all on the opening I’d be up significantly on most and even just holding steady on the stocks that have had drops (because they’ve held steady or even gone up slightly from their openings.)
admin | Apr 1, 2009 | Reply
CENX closed up 9% and ODP closed up 10%.
That’s pretty damn good, no?
And if I had got in this morning on the dip it would have been even better.
admin | Apr 1, 2009 | Reply