Opportunity Buffet Part 2 | stockbee

7/24/2007

Opportunity Buffet Part 2

With 88 stocks down 4% or more, there is lot to keep short sellers busy. However in spite of weak action the market is not yet in confirmed bear move, so chances of getting squeezed or getting shaken continue to be higher.

Bears have shown inability to press their case time after time in this rally. It is again looking same at this juncture. When downside moves start, there is urgency to get out and one tends to find a cluster of 200 plus 4 % plus down days in a short span of time. That typically indicate professional and fund selling. That kind of behavior is lacking in this weak action. So this t this stage looks like a range forming for probable next up move.

Let us look at the short scan candidates:

ABFS,Arkansas Best Corp (Google Yahoo Earnings Chart)
ABP,Abraxas Petroleum Corp (Google Yahoo Earnings Chart)
ACA,ACA Capital Holdings Inc (Google Yahoo Earnings Chart)
ANDS,Anadys Pharmaceuticals (Google Yahoo Earnings Chart)
AOB,American Oriental Bioengineering Inc (Google Yahoo Earnings Chart)
ARIA,Ariad Pharmaceuticals (Google Yahoo Earnings Chart)
BIDU,Baidu.com Inc (Google Yahoo Earnings Chart)
BJGP,Beijing Medpharm Corp (Google Yahoo Earnings Chart)
BWTR,Basin Water Inc (Google Yahoo Earnings Chart)
BZH,Beazer Homes Usa (Google Yahoo Earnings Chart)
CBON,Community Bancorp (Google Yahoo Earnings Chart)
CCJ,Cameco Corp (Google Yahoo Earnings Chart)
CHI,Calamos Conv Opptys & Incm Fd (Google Yahoo Earnings Chart)
CKSW,Clicksoftware Technlgies (Google Yahoo Earnings Chart)
CNVR,Convera Corporation (Google Yahoo Earnings Chart)
COOL,Majesco Entertainment Company (Google Yahoo Earnings Chart)
CRZ,Crystal River Capital Inc (Google Yahoo Earnings Chart)
CT,Capital Trust Inc Md (Google Yahoo Earnings Chart)
CVO,Cenveo Inc (Google Yahoo Earnings Chart)
DESC,Distributed Energy Systems (Google Yahoo Earnings Chart)
DSPG,Dsp Group Inc (Google Yahoo Earnings Chart)
DXCM,DexCom Inc (Google Yahoo Earnings Chart)
DYII,Dynacq Healthcare Inc (Google Yahoo Earnings Chart)
EEE,Evergreen Energy Inc (Google Yahoo Earnings Chart)
EEFT,Euronet Worldwide Inc (Google Yahoo Earnings Chart)
ENCY,Encysive Pharmaceuticals Inc (Google Yahoo Earnings Chart)
EPIX,Epix Pharmaceuticals Inc (Google Yahoo Earnings Chart)
EXPE,Expedia Inc (Google Yahoo Earnings Chart)
FCSX,FCStone Group` Inc. (Google Yahoo Earnings Chart)
FINL,Finish Line Inc Cl A (Google Yahoo Earnings Chart)
FMT,Fremont General Corp (Google Yahoo Earnings Chart)
FRPT,Force Protection Inc (Google Yahoo Earnings Chart)
FTWR,Fibertower Corp (Google Yahoo Earnings Chart)
GDP,Goodrich Petrol Corp (Google Yahoo Earnings Chart)
GLDD,Great Lakes Dredge Dock Corp (Google Yahoo Earnings Chart)
GNSS,Genesis Microchip Inc Delaware (Google Yahoo Earnings Chart)
GROW,U.S. Global Invest Inc A (Google Yahoo Earnings Chart)
GSX,Gasco Energy (Google Yahoo Earnings Chart)
HAS,Hasbro Inc (Google Yahoo Earnings Chart)
HDY,HyperDynamics Corp (Google Yahoo Earnings Chart)
HLYS,Heelys Inc (Google Yahoo Earnings Chart)
HOV,Hovnanian Enterprises A (Google Yahoo Earnings Chart)
HRP,Hrpt Properties Trust (Google Yahoo Earnings Chart)
HYGS,Hydrogenics Corporation (Google Yahoo Earnings Chart)
IMH,Impac Mortgage Holdings (Google Yahoo Earnings Chart)
INTV,Intervoice-Brite Inc (Google Yahoo Earnings Chart)
IONA,Iona Technologs Plc Adr (Google Yahoo Earnings Chart)
ITMN,Intermune Inc (Google Yahoo Earnings Chart)
ITP,Intertape Polymer Group (Google Yahoo Earnings Chart)
JRT,JER Investors Trust Inc (Google Yahoo Earnings Chart)
LEV,Levitt Corp (Google Yahoo Earnings Chart)
LPNT,Lifepoint Hospitals (Google Yahoo Earnings Chart)
MCEL,Millennium Cell Inc (Google Yahoo Earnings Chart)
MED,Medifast Inc (Google Yahoo Earnings Chart)
MESA,Mesa Air Group Inc (Nev) (Google Yahoo Earnings Chart)
NFI,Novastar Financial Inc (Google Yahoo Earnings Chart)
NFLX,Netflix Inc (Google Yahoo Earnings Chart)
NGAS,NGAS Resources Inc (Google Yahoo Earnings Chart)
NMHC,National Med Hlth Card (Google Yahoo Earnings Chart)
NPLA,InPlay Technologies Inc (Google Yahoo Earnings Chart)
ODFL,Old Dominion Freight Lne (Google Yahoo Earnings Chart)
ONT,On2.Com Inc (Google Yahoo Earnings Chart)
OTEX,Open Text Cp (Google Yahoo Earnings Chart)
PED,Smartpros Ltd (Google Yahoo Earnings Chart)
RVEP,Rio Vista Energy Partners L.p. (Google Yahoo Earnings Chart)
SAIA,Saia Inc (Google Yahoo Earnings Chart)
SIFY,Sify Ltd Adr (Google Yahoo Earnings Chart)
SILC,Silicom Ltd (Google Yahoo Earnings Chart)
SMTX,Smtc Corporation (Google Yahoo Earnings Chart)
SPF,Standard Pacific Corp (Google Yahoo Earnings Chart)
SYNM,Syntroleum Corporation (Google Yahoo Earnings Chart)
TBUS,Digital Recorders Inc (Google Yahoo Earnings Chart)
TGIS,Thomas Group Inc (Google Yahoo Earnings Chart)
TNH,Terra Nitrogen Co L.P. (Google Yahoo Earnings Chart)
TOA,Technical Olympic Usa Inc (Google Yahoo Earnings Chart)
TRCR,Transcend Services Inc (Google Yahoo Earnings Chart)
TTP,Titan Pharmaceutical Inc (Google Yahoo Earnings Chart)
UNCL,Mru Hlds Inc (Google Yahoo Earnings Chart)
UNG,US Nat Gas FD ETF (Google Yahoo Earnings Chart)
URBN,Urban Outfitters Inc (Google Yahoo Earnings Chart)
USAT,USA Technologies Inc (Google Yahoo Earnings Chart)
VGZ,Vista Gold Corp (Google Yahoo Earnings Chart)
WCI,Wci Communities (Google Yahoo Earnings Chart)
WPL,Wp Stewart & Co (Google Yahoo Earnings Chart)
WZEN,Webzen Inc (Google Yahoo Earnings Chart)
XNL,Xethanol Corp (Google Yahoo Earnings Chart)
XOMA,Xoma Ltd (Google Yahoo Earnings Chart)
YMI,Ym Biosciences Inc (Google Yahoo Earnings Chart)

Stocks like TRCR, FCSX, TNH, SILC, FRPT, BIDU, HAS, PED, GROW and some more are showing distribution at top of range. In some of these cases this is just normal correction after a long up move. Trucking is one industry which witnessed some breakdowns yesterday. Overall there are opportunities on short side again for swing plays.

1 comment:

Rubin said...

Dear Pradeep,
Your 'warning' posted on 22nd July about correction possibility was well grounded and very timely.I wish I had read and follow it.
Keep up the good work and thanks for always sharing your expertise and experiences.
Rubin