Browse > Home / Archive by category 'Stock Comments / Short Watch'

Stocks that I have mentioned to be careful long….

March 24, 2008 1:12 AM

I have mentioned a number of stocks in the last two weeks to either avoid long, be VERY careful long, or to flat out short them. All have got crushed in recent days.

JOYG: I said short it the day after it made an all time high of $72. Today $62.04

WLT: I said short it the day after it made an all time high of $61.20. Today $54.10

 CHK: I said short it (twice) after it made all time highs at $49.87. Today $44.29

MON: I have strongly said avoid, avoid, avoid a number of times….it has plunged to a low of almost $90 Thursday

AEM: I said it was an implosion waiting to happen and to wait for a short signal. It has plunged from a high of $83.45. Today $67.19.

These are all moves within ONE week…and shows why you will eventually lose “following the crowd”, especially the crowd that is making raging bull noises on tv…. If you had bought all of these, you would be down over 15%….in ONE week….not good.

That is why I said short, avoid…or both……….. and Cramer was screaming long on both CHK and AEM….hmmm

Written by · Filed Under AEM, CHK, Cramer, JOYG, MON, Short Watch, WLT | Leave a Comment 

Cramer discussing AEM: Don’t like the food here? Here is another BIG plate….

March 20, 2008 4:00 AM

A caller called on AEM tonight and asked what to do with AEM as he just bought it yesterday. Cramer’s advice….buy more as it falls.

My advice would have been to sell it yesterday at $80 and let other’s hope. I would have said short it in reality if I had been watching it.

He still was pounding the table that gold is going to $1600. It might, it might not. I have no idea and don’t much care one way or another - today. Gold could go to $1600 or it could go to $500. All I know is that yesterday the market said sell AEM and/or short it. My readers would be out of AEM at $80, his would be long at $68 and falling fast…..

And yesterday was the worst possible day to buy AEM as the chart was screaming to short it. I honestly feel sorry for the caller who had listened to Cramer, especially since the advice is to hang in there and buy more as it falls. As it falls? Are you kidding me? Too bad that guy didn’t read StockBlade.com, he wouldn’t be in that trade.

Doubling down or buying more when you are WRONG is like eating at a restaurant and hating the food…and they offer you another BIG helping….

Written by · Filed Under AEM, Cramer, Short Watch | Leave a Comment 

CHK: Short Here at $47.50

March 19, 2008 2:08 PM

It appears that $48 area should be a lid on CHK today. If it gets much above that I would need to look at see what’s going on. The hard stop is above $49.87 as I said……$47.50 is short right here…IMO. I would rather short higher…but it may not get there…

Written by · Filed Under CHK, Current Trades, Short Watch, Talking Heads | Leave a Comment 

CHK - Still an Avoid and/or Short

March 18, 2008 8:17 PM

I am still very negative on Chesapeake Energy here. It also looks like some commodities are rolling over certainly nat gas.

I said last night that I expected traders to short natural gas around $10 today. The high today was $10.085 and it closed at $9.10. Obviously it got crushed. I am not a “professional” trader, and have never traded commodities….but it seemed reasonably obvious what was likely to happen to nat gas today.

Nothing has changed on CHK. It is a short under $49.87 with a hard stop above that, IMO.

I still believe, obviously, that Cramers roaring bull call on CHK is going to be grilled to at least medium well…

The only way this thing is going higher here is if a massive continued rally lifts this sinking ship…which is always possible.

Written by · Filed Under CHK, Current Trades, Short Watch, Talking Heads, Winning Trades | Leave a Comment 

JOYG - Joy Global

March 16, 2008 1:47 PM

My long term charts suggest that we either just saw the March high for JoyG or it could explode to the upside. My short term charts suggest to take the former and exit the stock right here.

You could also short it here on a bounce to $70.50 with a hard stop above $72.00. The short side of this could be a tight trade or it could fall rather sharply. Charts have not confirmed this yet. In April I will have a better call on the longer term here.

$63.50 looks to be reasonably important here. If we could get under that, then $60.70 test would be in the cards.

Written by · Filed Under JOYG, Short Watch | Leave a Comment 

WLT - Walter Industries

March 15, 2008 8:22 PM

I have no idea what WLT does specifically, and quite frankly do not care. I was perusing some charts and WLT appears to be rolling over here. Again, I am a little skeptical of most charts that say short because of the general market action on Friday…but this looks like it might be a legit rollover here.

If the stock was $59 in April, I would definately say take this stock short, but we aren’t in April…:o)

But WLT is a short at or around $60 with a hard stop above $61.20. It could try and reverse just above $56…so I would watch for that and personally if short, I would take profit in that range. If I owned this stock, I personally would definately sell it here.

Written by · Filed Under Short Watch, WLT | Leave a Comment