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PeakTrader.com Economics, Portfolio Optimization, and Technical Analysis
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arthur Guest
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Posted: Sun Aug 15, 2004 11:45 am Post subject: Mon: Buys SMH IGM SNDK CIEN KGC KKD AMCC EMRG Sells DIA |
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Mon: Buys SMH IGM SNDK CIEN KGC KKD EMRG AMGN MRK WYE AMCC SIL Sells DIA
The SMH Sep 30 calls may have the best balance of leverage and safety. The SNDK Aug 20 calls may be best, since SNDK may rally to at least 22.50 sometime next week (which is Aug Max Pain). IGM (index) may be a better buy than QQQ. CIEN is selling for less than cash. KGC is an undervalued gold stock. KKD has a Put/Call of 1.71 and Short Ratio of 15.64, which indicate (from a contrarian view) it will bounce or rally (from current low levels). EMRG has been volatile and currently below recent support at 1.20. EMRG had a bullish doji at 1.01 recently. However, it may be a buy at 1.15. DIA may be an excellent hedge, in case the market falls further over next few weeks. My basic option strategy is to buy SMH long-term calls on dips (and sell some on bounces) and buy DIA short-term puts on bounces (and sell some on dips). However, I'm also looking for other excellent opportunities. SIL below 17 may be an excellent buy, and AMGN MRK and WYE may be buys on dips. AMCC fell sharply over the past few months. However, on Thu, AMCC announced a stock buyback and it rallied about 10%. It then fell on Fri (from a high of 3.20 Thu to 3.06 Fri). Thu may be a one day island reversal. So, AMCC may be a short-term buy. |
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