Welcome to Mr. Molo's Picks Email Me Here! The picks of Mr. Molo are not to be construed as recommendations to either
buy or sell these securities. Please do your own Due Diligence. 10/21/01
Well Mr. Molo has been not been making picks lately, but now I am back.
The first pick I'm going to make is one I made some time ago, and that is to
short Kohls (KSS)at $56.50. You know, I really like this store. I shop there
all the time. This stock fell really hard after the WTC tragedy and has
recovered all the way back to a prime short area. I'm just not very positive
on retail right now, and I don't see this holiday season being able to pull
it out. So either short KSS or buy puts. You could use a price of 59 as your
stop loss.
Do you like to play with fire? If so try your hand at trying to trade
Q-Logic (QLGC) currently at $39. This stock has more than doubled in the
past couple weeks. It's either going to pull back considerably or it could
keep going strong on a break out above 40. They report earnings on 10/23 and
that likely will send it one way or the other, pick your side right and you
could do very well. My inclination is buy a couple puts as opposed to an
outright short, as it is sitting right at resistance and should fall back
from here. But a decent earnings and conference call could propel this bad
boy. With puts, you limit your losses.
I like Biotechs right now and a couple that have some interesting charts
right now are DNA currently at $47, IDPH at 55, CELG at 30, XOMA at 7.50 and
VRTX at 22.85. Preferably, getting these on pullbacks is my goal.
Remember, this should not be taken as recommendations to take positions on
any of these securities. Always do your own research.
Mr. Molo wishes the best for all those impacted by the terrorists attacks on
our country. May God always be with you.
Mr. Molo 8/20
Looks like the market isn't done sliding, IMHO. I believe the market is
definately telling us that the April lows are going to be tested. Any long
positions should be protected with Stops. Still no reason to go aggressive.
Use neutral spreads or covered calls if long.
Defensesive issues like MO and REIT's are the only thing that look half way
decent right now. Even GE broke support at 41 on Friday.
I'm not looking for any long positions at the moment.
Mr. Molo (oYo) 8/20
Looking over some charts today. JBL is sitting right at a key level. Either
it bounces or it collapses. Which way do I go? I guess I could go long with
a stop at 22, then short it if my stop gets hit. The picks of Mr. Molo are not to be construed as recommendations to either
buy or sell these securities. Please do your own Due Diligence. 8/13
Well, the market really flirted with disaster Friday morning. I thought the
nasdaq was going to break a key barrier at 1900, but it bounced back nicely.
The biotech is very weak right now, as most stocks in that sector are
breaking new lows. There is still a lot of downside in Biotech and that is
where I am focusing now for short trades.
INHL looks like a great short today, as it rose right to resistance levels.
Looks good for a pullback. Having just lost $17.5 million in the last
quarter can't bode well going forward! Buy Stop at 16
MEDX looks to be a good short target as well. It broke a descending triple
bottom yesterday. Buy Stop at 20
And last, GLGC, which broke a double bottom yesterday as well.
These stocks were up a bit on Friday, which should give a nice entry to
short while minimizing upside risk. A weak sector and weak stocks usually
are unable to hold onto gains and mount a reversal.
On the
long side, ALTR, CTXS and QLGC bounced off support which should be a
very good indicator of what these stocks can do when we actually have a
positive day on Nasdaq. Noticing DIGL trying to start a reversal. 8/10/01 The market is trying to hit on key break points but hasn't yet. Having said
that, I see no reason to be aggressive in this market. Certainly not with
tech. However, I do see some compelling positions that are basically
considered to be neutral. I think the retail sector and the building sector
look like good areas to short. Here are my current picks:
Short ANN with a stop buy at 33. Same store sales looked horrible.
Short APOG at 12 if you can get it.
Buy CIEN with a stop at 28
Buy ALTR also with a stop at 28.
Buy CTXS with a stop of 31
Given the potential for the market to fall, I am staying away from most long
positions, prefering to write ratio call spreads or short strangles to take
advantage of weakness and/or neutrality.
I like CTXS as a target for a long ratio spread. Buy the Sept 37.5 calls and
sell 2 Sept 40's for every 1 37.5 you buy. This should give a nice profit
range with virtually no downside risk if the market breaks down. CTXS is on
a nice uptrend, that seems to be holding well despite software struggling
right now.
For the record Mr. Molo has taken positions on these issues.
Sectors to buy right now may be regional banks and business products, both
are strong. ADVP looks good if it hits 65. I'm also lookng at AVY with a
stop at 47. I don't have any picks in banking because I find the sector
boring as hell.
Mr. Molo (oYo) 8/9/01 1) Short KSS, cover of breaks above 61
2) Short DY, cover if breaks above 20. 3)Long OIH, stop loss at 56. 4) Long ASN |
