johnpaulca
12,036 posts
msg #130459
- Ignore johnpaulca |
8/17/2016 10:03:53 AM
REN($17.16....2nd bar open below $17.36, buyers will now try to take to $17.36 sellers down to low of day($16.71)
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johnpaulca
12,036 posts
msg #130460
- Ignore johnpaulca |
8/17/2016 10:22:01 AM
REN....scalp the retracement from $16.71 to $17.36 (:
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mahkoh
1,065 posts
msg #130461
- Ignore mahkoh |
8/17/2016 11:22:38 AM
CMCM in freefall today.
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Kevin_in_GA
4,599 posts
msg #130463
- Ignore Kevin_in_GA |
8/17/2016 4:18:07 PM
Shorted 100 shares of CTAS at the close ($115.65) based on the short filter - first signal in a few days.
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johnpaulca
12,036 posts
msg #130475
- Ignore johnpaulca |
8/18/2016 9:28:07 AM
SPY...BB125 resis above on 30-min timeframe. Dips will be bought since daily trend still intact. Volume is pathetic so be careful with longs.
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Kevin_in_GA
4,599 posts
msg #130476
- Ignore Kevin_in_GA |
8/18/2016 9:53:29 AM
Out of CTAS at $114.50 for a gain of $111 after commissions.
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Kevin_in_GA
4,599 posts
msg #130478
- Ignore Kevin_in_GA |
8/18/2016 3:57:50 PM
URBN pulled up today but it is right on the upper BB. May not qualify. Will wait to see if I can get in at a better price tomorrow.
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johnpaulca
12,036 posts
msg #130479
- Ignore johnpaulca |
8/18/2016 4:10:27 PM
PFE...long 4000 shares at $35.10.
-Pullback below BB40 and then consolidated for about 9 days, lots of buyers sitting here. Holding overnight with stop at $34.68
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Kevin_in_GA
4,599 posts
msg #130480
- Ignore Kevin_in_GA |
8/18/2016 7:16:46 PM
Also jumped in on 1000 shares of VXX @ $36.14 based on another set of VIX filters I have developed. These typically trade at 90% win rates but it takes several weeks on average to close out the trades.
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BarTune1
441 posts
msg #130481
- Ignore BarTune1 |
8/18/2016 9:34:49 PM
All my trading systems are short term and are based essentially off price-action rather than any fundamentals. The parabolic move in REN has me puzzed. I'm actually a CPA full time and I just perused REN's annual financial statements for 2015. Total Assets at the end of 2015 = $391 million. This is down from $1.4 billion the prior year ... no doubt from write-downs in oil reserves. Total Liabilities at the end of 2015 = $594 million. That leaves a deficit of around $200 million. No enterprise value - nothing. Total revenues last year = $155 million. Total operating expenses = $931 million. Well, it does not take a rocket scientist to see that the corporation is nearly bankrupt. In fact, they were close to being delisted from the NYSE for trading under $1.
Note also there are 77 million outstanding/issued common shares. At $20, where REN was trading at one point today, that puts a value of over $1.5 billion on the company - when as pointed out, they have more liabilities then assets. Even, with no liabilities, they only reported $391 in total assets.
I can't see that alot has fundamentally changed and can't see that this company will ever be profitable. They have some favorable hedges in place for 2016 and 2017, but these are expiring and that is buried in the notes to their financial statements.
I'm no Andrew Left, but I can't see where the current valuation is coming from .... and I can't really see how they can continue long term. To finance some of their hedges, they sold off the upside (entered into collars) ... so even if oil was to go way up ... they wouldn't fully participate because the hedges set a floor but also a ceiling in many cases.
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