The MTG Stalk Sheet
May 15, 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
There are no new setups for today. We cancelled the FEED and VIP setups for now, as we want to see how the market reacts to yesterday's late selloff. We have reduced our long exposure by moving most of our stops to breakeven. 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)
- FEED - 19.31
- CHL - 85.51 (triggered 5/14)
- LFC - 63.76 (triggered 5/14)
- MA - 293.11 (triggered 5/14)
- GFA - 42.21 (triggered 5/14)
- BIDU - 348.00 (triggered 5/12)
- GOOG - 576.00 (triggered 5/12)
- SPWR - 85.01 (triggered 5/12)
- GMCR - 38.55 (triggered 5/12)
- SOL - pullback to 18.50-19 (triggered 5/12)
- ABFS - 38.86 (triggered 5/12)
- ESRX - 71.76 (triggered 5/13)
- CTRP - 63.26 (triggered 5/13)
- APA - 134.76 (triggered 5/13)
Breakout entries (from cup and handles, bull flags, flat bases,and downtrends)
- NOV - 76.85
- HESS - 119.11
- IPI - 52.16 IPO (50.65 early entry)
- JASO - 27.11
- CNX - 92.26 (triggered 5/13)
- TCK - 48.51 (triggered 5/13)
- OXY - 88.80 (triggered 5/13)
- ILMN - 81.30 (early entry triggerd on 5/12 at 79.11)
- EXM - 46.32 (triggered 5/12)
- POT - 201.01 (triggered 5/12)
- AGU - 87.51 (triggered on 5/12)
- AME - 50.80 (triggered 5/13)
- ADBE - 40.70 (triggered 5/13)
- AKS - 71.01 (triggered 5/14 on false breakout)
SHORT WATCHLIST AND TRIGGER
PRICES
- LFG - 28.58
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):
SOL long (200 shares from May 12) -
bought 19.21, stop 19.21,
target new highs, unrealized points = + 3.09, unrealized P/L = + $616
UTHR long (175 shares from May 2) -
bought 90.86(avg), stop 92.65
target 99.50, unrealized points = + 2.56, unrealized P/L = + $446
V long (100 shares from May 12) -
bought 79.01, stop 77.85,
target new highs, unrealized points = + 3.22, unrealized P/L = + $321
BMRN long (225 shares from May 9) -
bought 38.23, stop 38.23,
target new highs, unrealized points = + 1.17, unrealized P/L = + $261
ISRG short (40 shares from May 2) -
sold short 289.60, stop 296.20,
target 252.00, unrealized points = + 3.75, unrealized P/L = + $150
POT long (50 shares from May 14) -
bought 200.95, stop 194.68,
target new highs, unrealized points = (2.15), unrealized P/L = ($108)
AKS long (200 shares from May 13) -
bought 70.06, stop 67.49,
target new highs, unrealized points = (1.91), unrealized P/L = ($384)
Closed positions (since last report):
EXM long (200 shares from May 12) -
bought 46.41, sold 51.15,
points = + 4.74, net P/L = + $944
Current equity exposure ($200,000 max. buying power):
Notes:
- Per intraday email alert, we sold EXM to lock in a + $900 gain.
- Per intraday email alert, we bought POT on the breakout of an hourly triangle pattern.
Market Conditions / Gameplan:
- Yesterday's late reversal action is a concern, as it represents churning at the highs. Though we are not ready to call this rally dead, we plan to lay low for the next few days. Let's ses how the market pulls back off over the next few days. If the volume is light, then we should see some good buying opportunities on weakness. If the volume is heavy, then we will probably start looking for shorts.
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
Leading/strong stocks at/near the 50-day MA (a key institutional support level) - CMP, STLD, PCU, MDR, SYT, CELG
Leading/strong stocks breaking the 50-day (last week) - PRGO, ITRI
Notes on leaders:
Monitor leading stocks for potential heavy volume distribution (which could be defined as closing 4-5% down on volume that is at least 200% greater than the 50-day moving average of volume).
Open Position Detail:
- UTHR - We are trailing a tight stop to lock in profits. New stop above.
- ISRG - Nice selloff in the afternoon. New stop above.
- BMRN - The breakout has been steady, but not impressive. New stop above.
- V - Holding up well. New stop above.
- SOL - Powerful breakout action, so we want to let this stock breathe. We have a breakeven stop.
- AKS - False breakout, we should have raised the stop and ditched the position sooner....but that was one heck of an ugly selloff....no bounce at all intraday. We will look to exit on any strength this morning. If not, our stop is just below.
- POT - We have small size and risk, so we are letting the setup go.
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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