Wait for the bulls if you want to write covered calls
sorry, but this sharp downturn calls for shorting
The overall market sold off today.
DJIA: 12,601.19 -227.49
NASDAQ: 2,448.27 -43.99
S&P 500: 1,390.71 -22.69
NYSE: 12601 -227.49
Today I will be watching ACXM at the open and throughout the day. Acxiom Corp has a terrible ROE, ROA and ROI. I found this dirty dog in my screener today, and noticed that it surged on monday only to be sold off below it's 30 min moving average yesterday. It's at a 7 month high, so it would make sense that tomorrow will be a day to trade on the downside. I wouldn't go long, that's for sure!
I now have a short watch list which includes another dog by the name of :
CENTEX CORP: CTX
Centex constructs residential houses and finances mortgages..really great profits! I love CTX with their ROA at -24% and ROI at -31% and ROE at -71%! Awesome, maybe I can set my sights on this dog to short. Afterall, the 52 week low is 17 bucks and it isn't even close to breaking the 30 minute moving average.
I'll add more possible "dogs" later.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment