Watch the earnings

The market will soon turn its attention to next quarter earnings. Soon we will head in to pre announcement and warning season. That to large extent will determine the market and individual stock fate. Till then it might be churn time.
Not much action today barring the Chinese stocks going up. I have initiated a small position in CPS, ChoicePoint Inc.

ChoicePoint Inc. (ChoicePoint), incorporated in 1997, is a provider of identification and credential verification services. The Company provides risk management and fraud prevention information and related technology solutions to the insurance industry. It also offers risk management and fraud prevention solutions to organizations in other industries.

Here are some other stocks I have positions in or watching.

AMWD,American Woodmark Corp
BDG,Bandag Inc
BDG--A,Bandag Inc Cl A
BLDR,Builders FirstSource Inc
CAAS,China Automotive Systems Inc
CHA,China Telecom
CLWT,Euro Tech Holdings Ltd
CMGI,CMGI Inc
CMTL,Comtech Telecommun Corp
CNTF,China Techfaith Wireless Communication Technology Limited
CTB,Cooper Tire & Rubber Co
CTDC,China Technology Development Group Corp
CTTY,Catuity Inc
DRCT,Direct General Corp
EPIX,Epix Pharmaceuticals Inc
FTEK,Fuel Tech Inc
GRRF,China Grentech Corp Limited ADS
LAYN,Layne Christensen Co
LMS,Lamson & Sessions Co
OBCI,Ocean Bio-Chem Inc
PNTR,Pointer Telocation Ltd Ord
SAFM,Sanderson Farms Inc
SCMR,Sycamore Networks Inc
TSTC,Telestone Technologies Corp
WWE,World Wrestling Entertainment

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11 comments:

walter said...: so when you say you are watching them, what exactly are you watching?

their charts and price and volume? Level 2 action? Time and sales action? candlesticks? balance sheets? news wires?

thanks; Dec 5, 2006, 12:33:00 PM
Pradeep Bonde said...: The trend. Are they raising estimates, lowering, are earnings accelerating. Which sector is this happening in. Is this stock specific.; Dec 5, 2006, 12:38:00 PM
walter said...: so you may never even look at a chart...

so how do you time your entries and exits? set your stop prices and price targets?

only if you feel like sharing; Dec 5, 2006, 12:57:00 PM
Pradeep Bonde said...: Percentage of capial at risk. Entries are based on catalyst, plus price and volume expansion/contraction.

The stock selection methodology is most important, they go up or down because they have been chosen based on combination of factors like earning/sales/price momentum or surprise.

They might have chart patterns on them like bull flags, cup with handle or double bottoms and so on but that is not what drives them up or down.; Dec 5, 2006, 1:23:00 PM
walter said...: ok, i understand that stock selection is independent of trade execution...

so i guess what i am asking is this: once you settle on stock, you just place a market order for however many trades you want, and then sit back and watch it go up...

how do you know when to sell?; Dec 5, 2006, 3:07:00 PM
walter said...: you never mentioned what inspired your position in CPS... no news/earnings catalyst, at least, that i can see; Dec 5, 2006, 3:49:00 PM
Pradeep Bonde said...: Earning catalyst can also be guidance raise or analyst earning estimate increase.; Dec 5, 2006, 3:52:00 PM
walter said...: hmm... looking at yahoo analysts estimates - mix of upward and downward revisions over time... i of course dont doubt that you know what you are doing, but its not obvious, and i wouldnt expect it to be considering my limited knowledge of estimates, estimating and fundamentals in general, but its interesting mystery to try to solve anyway; Dec 5, 2006, 3:59:00 PM
walter said...: not that it matters, but kinda bearish candle for CPS for the day - looks almost like distribution day - decent volume and weak close... but nice uptrend line sine mid july and caught right now between MA20 and MA50 and below MA200; Dec 5, 2006, 4:02:00 PM
walter said...: why take down the book post?; Dec 5, 2006, 4:03:00 PM
Pradeep Bonde said...: It came through private contacts, so did not want him/her to get in to touble.; Dec 5, 2006, 4:49:00 PM

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