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Trading Notes
Trading Notes
David Goldring
Monday, November 15, 2004

We want to share with you some of the thoughts and trading ideas that we use on a daily basis. We donCHR(39)t use each idea, and often the potential set up does not materialize. But each day we have a blueprint for possible action. This information is primarily for experienced traders. A lot of these trades will be very profitable and it will seem at times as though we can do no wrong. At other times the opposite will be true. ThatCHR(39)s simply the nature of our business. It is during those "other times" that experience and the ability to cut losses is so important. We canCHR(39)t tell you to cover because the position may be a hedge to something else, or the size so small that you are setting up the bigger trade. Each trader has their own unique and individual style. This service is simply about saving you time and alerting quickly to where the "action" is taking place.

More of the same, keeps going up. Want to fade early strength this week, enough already, January seems to come in November these days. Hedge myself by going long with stocks close to their pivots and breaking out, and scalp some of this upside momentum short.

SHORTS

Go America (GOAM - 11.78) - Vegas time. Stock traded 9x its total shares outstanding Friday! They lose $, but with $4.45 in cash and no debt we would have been keen at $2.55 six trading days ago. Anyone out there has a company trading at cash feel free to e-mail me at dgoldring@stockpicks.com. Will lean short below 11.60, but take loss above 12.40, when they pull the plug this thing can fall $3 in 30 minutes. Conversely above 12.40, can run to first resistance 16, second resistance 20.

KFX Inc (KFX - 11.10) Wall St Journal rips them, falls to 7, nothing changes, now itCHR(39)s a bullet train. September high, October low swing, gives us short at 12.30.

Open Wave (OPWV - 14.67) straight up from 10, will hit the wall at the March high of 16. Stock looks expensive, but a simply monstrous technical breakout on the weekly above 18. So will lean short as long as we remain earth bound.

PC Mall (MALL - 21.09) valuation issue a bit unclear as they own the absurdly valued Ecost.com (ECST - 17.26) That said, these online retailers of pc hardware have shot up on expectations of holiday cheer too far too fast. MALL is fast approaching April and all-time high at 22.75, looking for a pullback there.

Verisign (VRSN - 30.26) from no respect to too much. Will run into March 02 high at 33.50. That would be time to pullback.

Crucell NV (CRXL - 11.76) how anyone values these biotech development stories is anyoneCHR(39)s guess, but we suspect in the majority of cases they are overvalued. Analyst day today, would expect some hype. Feb 01 high at 12.75 and the Nov 00 high at 13,62 should be grounds for a pullback for this extended stock.

ID Biomed (IDBE - 18.58) again no clue what these biotechs are worth, but certainly in no danger of making any money soon. Could be a double top at the all-time September 03 high at 20.75.

Tessara Tech (TSRA - 33.24) imagine, a semiconductor company growing like the old days, and the valuation to match. 47 x forward EPS and 20x sales. Recent Oct 26th/28th swing, projects 35.30 top.

More to follow

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