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Wednesday, May 10, 2006

May 10th - ASR EZM

Cramer's first pick was ASR Grupo Aeroportuario Del Sureste SA de CV

Closing Price: $37.31
After Hours High: $38.64
Percent Increase at High: 3.6%
Price Level Off Point: $38.50
Percent Increase at Level Off Point: 3.2%
Trades on NYSE
Sector: Services

Finally a stock not at its 52-week high, but it is only a few dollars away from it. This one was down .53-cents toady or 1.4%. ASR is up from the $30 level since February. It is also climbing after hours instead of going down from an initial spike. The services sector hasn't been a great sector for shorting with only an average drop of 2.7% from its next day peak compared to other sectors that average closer to 5% drops. Given the recent slew of not-so-great opportunities to short I certainly wouldn't force the issue here with a short.

Cramer's second pick was EZM EuroZinc Mining Corp.

Closing Price: $2.66
After Hours High: $3.28
Percent Increase at High: 23.3%
Price Level Off Point: $3.16
Percent Increase at Level Off Point: 18.8%
Trades on AMEX
Sector: Basic Materials

This is being pushed to a new 52-week high after hours now. It had a big down day today, going down 10%. The Basic Materials sector has been pretty good for shorting, averaging a 5.8% drop from its peaks. Two other "under-10" stocks (KRY and OMN) had 10.9% and 10.2% drops from their peaks, keeping in mind that KRY did have higher peaks but had a large drop right at the opening bell. There might be a lot of people that would like to short this but can't due to the price. In my digging into brokers (http://compareonlinebrokers.blogspot.com/) there are some brokers who have minimum prices on the shares you can short. This is a very risky one to short for those who can (me not being one who can), and there is no sense being too greedy and I know I would be happy with a .10-cent drop in a pick like this.

Comments on "May 10th - ASR EZM"

 

Anonymous Anonymous said ... (May 11, 2006 11:11 AM) : 

Just to let you know on EZM today. The AMEX did not open until 10:26 am today so that was why the big spike occured then - Everybody including myself who put in sell short orders at the open got it for 3.25 at 10:26am. I'm thinking of covering right now at 3.05

At least those who use Fidelity did.

 

Blogger CramerTracker said ... (May 11, 2006 11:33 AM) : 

Thanks for that update. My broker is down compeletly right now, not that I could short EZM anyway due to the minimum price restriction I have. At least the problem with the AMEX didn't hurt you!

 

Anonymous Anonymous said ... (May 17, 2006 8:23 AM) : 

Greets to the webmaster of this wonderful site! Keep up the good work. Thanks.
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