Nothing new to add today. The markets continue the pullback they started yesterday. However, this pullback is not very scary at all and most stocks are acting properly on their pullbacks. The volume was lower or the same to yesterday's total, showing that institutions are not dumping shares at these levels.
I have been concentrating way too much on the stock market recently and am going to take a vacation from my commentary so that I can totally concentrate on my poker play. Because to be quite honest my poker play has turned into junk. I am not sure what is going on but the past month and a half have been terrible. I am running bad and it is starting to bother me. So I am going to concentrate solely on poker the next 5 days then start fresh on Monday. I doubt the market is going to do anything spectacular till then.
If you play poker, you can find me on ultimatebet, fulltilt, pokerchamps, pokerstars, and partypoker as JoshNControl, JoshuaNControl, and SirAloha. You are more than welcome to find me and take my chips. EVERYONE ELSE HAS, you might as well too. :)
New Swing Longs: BGO NTO APAC
Longs Outperforming Market: BOOM-328% BMD-299% CERS-112% GMXR-105% SPNC-91% GSX-78% EMKR-74% ACR-73% PETS-67% BNT-57% PWAV-55% LMIA-53% MNG-47% MCX-45% GES-44% MIDD-37% EAGL-37% TRAD-35% AKAM-35% GRS-29% TFR-28% TIII-27% MRB-26% LCRD-25% ELOS TEVA BEAV FWLT RWK ELN HOMS ACTG GGR BGC AU NSTK IINT NXG DEZ NEM KGC AUY TSCM RTLX DSGX
New Swing Shorts: ESL NTGR
Shorts Outperforming Market: POSS K
2 comments:
Is PARL a buy here?
thanks
btw, if you havn't read any poker books i recommend the two plus two books most of them are really good.
PARL-I acutally see a lot of things I dont like on PARL on the daily but the weekly looks great.
There are positive points but the mix of negatives gives us poor odds that the stock is a strong buy.
The positives:
Great Earnings, sales growth. High future estimates
The weekly chart shows how perfect the uptrend has been. Steadily climbing the 10 week moving average the whole move.
Big accumulation (up weeks) volume bars are all over the uptrend, indicating strong institutional support
with all those great fundamentals and those positive chart traits, why is this not a safe buy?
The original breakout from the proper base was in September of 2004. It broke out of a beautiful base on big trade. So the current base is not the first or second one. The second one was in early 05. So we are late to this party and that increases our risk on the downside.
The daily chart also shows from July to October a low volume rollover. That low volume then picked up on the downside with many distribution days (red bars above the 50 day volume avg.). Rollovers stick out on charts to me, because they are historically negative. Rolling over after a breakout is a HUGE RED FLAG. Even more so than gap downs on heavy volume.
The subsequent rally from the short term october bottom has happened on very mixed volume. More red bars on the daily above the moving average than green bars is a negative divergence. But those red bars have the stock finishing in the upper portion of daily range so it is probably accumulation. Still not a really great looking short term picture.
So it is a mixed bag. I was long PARL from 9/24/04 and sold the final ammount on 4/29/05. I made sells that netted me 107%,86%, and 58% gains in the stock so I definitely like PARL.
However, I wouldn't even buy it with your money, if it broke out today.
I just wouldn't want to do you like that.
THANKS so much for the book recs. At first I did not know "two plus two" publishing. I own 5 books on poker, including both bibles (Super System I and II) and oddly all I have bought have been by Cardoza Publishing. I was going to order the Miller, Sklansky, and Harrington books soon enough anyway. Now that I have your recommendation on it, I am going to plunge.
THANKS once again. I hope my answer on PARL is more than satisfactory
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