TEN has come back a bit today, first day in a while it hasn't been in the green!
Just got an entry into Long NWS and Short SGN.
Also looking at shorting HZN but will be patient and careful with this one, tossing up long AUT, KAR or BPT.
TEN has come back a bit today, first day in a while it hasn't been in the green!
Just got an entry into Long NWS and Short SGN.
Also looking at shorting HZN but will be patient and careful with this one, tossing up long AUT, KAR or BPT.
I was in the queue at 32 to exit TEN and but didn't get a fill (I was may be 30k shares away), but I am not too concerned. With the down move today 31 is a real possibility over the next day or 2. Let's hope my FXJ long holds up in the meantime.
Happy days for usI was in the queue at 32 to exit TEN and but didn't get a fill (I was may be 30k shares away), but I am not too concerned. With the down move today 31 is a real possibility over the next day or 2. Let's hope my FXJ long holds up in the meantime.
Thanks for the tip.SGN got a bit of write up today by Macquarie who raised the price target by a bit, so I won't be surprised if it heads back above 160+ given how thin it is.
Again, thanks. I'm still learning soo much with each week and haven't quite optimised which stocks should go together, I have been including size as a parameter but have not been too tight on the criterion so far..With HZN possible look to pair it with oilers of comparable sizes... AWE, DLS, SXY etc. I find KAR tricky as it likes to release drilling updates with regularity (which makes it hard to keep up with), while AUT recently released a disappointing update and I think the recent weakness is probably a result of that.
Having said all that, sometimes these bits of information mean nothing except make you procrastinate and miss an otherwise good valid trade.
Again, thanks. I'm still learning soo much with each week and haven't quite optimised which stocks should go together, I have been including size as a parameter but have not been too tight on the criterion so far..
Closed SGN @ 1.46 and NWS @ 19.41 for a quick profit, then turned to long SWM/short CRZ at market close, hope it's as good as my last pair
Closing CRZ/SWM today, CRZ looks beaten enough to get on the long side.
Big spike on GWA today..
Also BLD is triggering against not only GWA but a few other material stocks...
CIMB upgraded GWA today. The move seems a bit over the top however.
I have been trading like an idiot recently...
I really need to get a better source for broker upgrades, seems I am always oblivious!
And while still on the topic of analyst upgrade/downgrade, how do you guys view them generally? As a major news event that exits (or filters if you are already in) your trade? Or as an opportunity as the "fundamentals" have not changed as a result of it?
So far I tend to see them as the latter, especially if I'm not already in the trade. And if I'm unfortunate enough to be in it when the upgrade/downgrade happens, then it's a matter of "if it hurts enough, get out"
Bit of everything really... if I am holding and the upgrade/downgrade is against me, sometimes I cop it, while other times I step aside on that leg and look to re-enter at better spread. If I wasn't holding, I'd look to both trade in the direction of the recommendation change, as well as fade it if it looks to run out of steam.
And while still on the topic of analyst upgrade/downgrade, how do you guys view them generally? As a major news event that exits (or filters if you are already in) your trade? Or as an opportunity as the "fundamentals" have not changed as a result of it?
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Picked long CRZ/short IRE at market close, and left RHC/NHF due to lack of capital (in the middle of moving funds between brokers), hope I get to pick it up again tomorrow.
Were you in the GWA trade? How did you handle that one?
I think it depends on what the stock is for me. If I am already weary about shorting a stock due to me perceiving it as a strong stock and then an upgrade comes out, I'd probably get out.
If I am not already in, I assess the reaction and act based on that. As for GWA yesterday I felt that 7% rise with no new info (other than a broker thinking its worth more) was a bit overcooked..so I got in. I was actually sitting in the queue for BLD and didnt get a fill so managed to close the GWA position for a profit on the close.
So my answer is really that I don't have a solid procedure for dealing with upgrades/downgrades and assess it on a case by case basis, which hopefully, I will improve at over time.
The CRZ/IRE is interesting, its not as fundamentally correlated as I would hope for most of my pairs - however this is just how I have tried to tailor my approach. Do you base your pairs more on backtest results/statistical correlation?
I was watching the NHF/RHC trade too...hopefully it stays on until I also have funds ready!
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