The MTG Stalk Sheet
April 29, 2008
The MTG Stalk Sheet presents you with the best individual
stocks that Morpheus Trading Group is stalking for potential trade entry
each day, all in a concise and easy to understand format. Please be sure to read the MTG
Stalk Sheet User Guide in order to understand the terminology below and to
receive the maximum benefit from your subscription. Enjoy!
"FULL-SERVE" STALK LIST
We plan to lay low ahead of Wednesday's Fed meeting, so there are no new setups for today. Most leading stocks are quite extended and need some time to consolidate recent gains. If any new trades are made, we will notify via intraday alert.
"SELF-SERVE" STALK LIST - UPDATED EVERY MONDAY (Click here to view the "Self-Serve" Stalk List
section of the user guide.)
LONG WATCHLIST AND TRIGGER PRICES - (changes to trigger prices are highlighted in red)
Pullback entries - (2-5 day pullback in a strong uptrend or pullbacks to the 20 & 50-day MA's)
New setups
- DRYS - pullback to 78-79 area (establish small position/ add over the recent swing high)
- EXM - pullback to 39.50-40.50 area (establish small position/ add over the recent swing high)
-------------------------------
- ITRI - pullback to breakout pivot (99.00 - 100.00)
- ILMN - 78.51
- CBD - 43.26 (false trigger on the open 4/28)
- IVGN - 92.51 (triggered 4/28)
- SMS - 33.06 (triggered 4/28)
- CNX - 82.01 (triggered 4/28)
Breakout entries (from cup and handles, bull flags, flat bases,and downtrends)
New setups
- BKE - 49.61
-------------------------------
- FEED - 19.70 or 20.11
- EMR - 54.12
- SOL - 19.06
- NKE - 69.15
- NUE - 76.15 (triggered 4/28)
- PRGO - 41.01 (triggered 4/28) - earnings 5/8
- UTHR - 89.26 (triggered 4/28)
- DSX - 31.26 (triggered 4/28)
- MELI - safe entry over highs at 53.70 (early entry triggered 4/28 at 52.86)
- Note: Check earnings before entering new positions over the next few weeks.
SHORT WATCHLIST AND TRIGGER
PRICES
- CMG - short bounce to 50-day MA (from 106.50 - 107.50)
- UNH - 33.28
- SCHL - 27.84
Daily Stalk Summary
Below is an overview of all
"full-serve" open positions, as well as a performance report on all "full-serve"
positions that were closed only since the previous day's newsletter. Net
P/L figures are based on the $100,000 Stalk
Sheet model account size. Changes to open positions since the previous
report are listed in red text below:
Open positions (coming into today):
Closed positions (since last report):
Current equity exposure ($200,000 max. buying power):
Notes:
- We are cancelling the ILMN setup bacause we don't want to get in ahead of the Fed without a profit buffer. We are also cancelling yesterday's buy setup in AEM via intraday email alert.
Market Conditions / Gameplan:
- Most leading stocks are either in consolidation mode or struggling to push higher, but aside from the fertilizer stocks, we do not see any serious heavy selling. We wouldn't mind a 3-5 day pullback in the market to give us some quality pullback/breakout entries.
Market Leaders:
Monitoring the price action of leading stocks is the best way to gauge the health of the market (when the market is trending higher). Keep a watchlist of these symbols up at all times and review the price action every night after the close. This list of leaders is updated every Monday.
Leaders -
AKS
ANR
APA
BUCY
CF
CLF
CLR
CMP
CSX
DVN
EOG
FDG
FSLR
HAL
HP
JRCC
LNN
MOS
MTL
POT
RRC
SID
SQM
STLD
SWN
USO
UNP
X
XEC
Strong stocks at/near the 50-day MA (a key institutional support level) - CBD, SIAL,
Leading stocks breaking the 50-day (last week) - AEM, GOLD, TRA
Notes on leaders:
We saw another day of heavy selling from Fertilizer stocks. If these stocks fail to hold support and begin to fall apart, it would not be a healthy sign for this rally.
Open Position Detail:
Edited by Deron Wagner,
MTG Founder and Head
Trader
DISCLAIMER: There is a risk for substantial losses trading
securities and commodities. This material is for information purposes only and
should not be construed as an offer or solicitation of an offer to buy or sell
any securities. The Company and/or its affiliates, officers, directors and
employees may or may not buy, sell or have a position in the securities
discussed in The MTG Stalk Sheet and may profit in the event the shares of the
companies discussed in The MTG Stalk Sheet rise or fall in value. Morpheus
Trading, LLC (hereinafter "The Company") is not a licensed broker,
broker-dealer, market maker, investment banker, investment advisor, analyst or
underwriter. This discussion contains forward-looking statements that involve
risks and uncertainties. A stock's actual results could differ materially from
descriptions given. The companies discussed in this report have not approved any
statements made by The Company. Please consult a broker or financial planner
before purchasing or selling any securities discussed in The MTG Stalk
Sheet. The Company has not been compensated by any of the companies listed
herein, or by their affiliates, agents, officers or employees for the
preparation and distribution of any materials in The MTG Stalk Sheet. Past
performance never guarantees future results.
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