June 7th - PMTI AGN
Major problems with blogger today! Sorry for the delay!
Cramer's picks tonight dealt with vanity and were PMTI Palomar Medical Technologies Inc. and AGN Allergan Inc.
PMTI
Closing Price: $43.29
After Hours High: $44.23
Percent Increase at High: 2.2%
After Hours Level Off Price: $43.73
Percent Increase at Level Off Price: 1.0%
Trades on NASDAQ
Sector: Healthcare
Short %: 15.5%
Days to Cover: 6.9
ANGO no-short rule here today since the daily high of $46 is higher (a lot higher) than the after hours price. Not to mention the short interest is relatively high already and its a bit on the pricey side. Check out my shorting rules on the right side links to get more details on the ANGO no-short rule.
AGN trades at $99 and change. Way too expensive here and up under a percent tonight. Not much opportunity here.
posted by CramerTracker @ 6/07/2006
6 comments
Comments on "June 7th - PMTI AGN"
-
Anonymous said ... (June 08, 2006 1:01 PM) :
-
Anonymous said ... (June 08, 2006 2:06 PM) :
-
CramerTracker said ... (June 08, 2006 3:49 PM) :
-
Anonymous said ... (July 12, 2006 3:47 PM) :
-
GoldenZ said ... (July 12, 2007 6:50 PM) :
-
Anonymous said ... (July 27, 2009 12:29 PM) :
post a commentYou mentioned this site -
http://www.shortsqueeze.com
What do they mean by the "Squeeze Ranking", the site has no scale or explanation of this.
Do you short other stocks as well, or do you just stick to the Cramer effect to gain the edge?
(Sometimes I think I'll just short the stocks I want to buy, reverse physcoligy or something like that...)
On his radio show today, Cramer mentioned that he will talk about a company NOV that has gone from 77 to 60. Let's see if his radio shows moves it (at 1:58pm EST)
To be honest I'm not sure what the Squeeze Ranking represents. I just use the site to get an idea of the current short % to see if they may impact the price movement the next morning, even though the data is only updated monthly from what I understand.
And right now, yes I only short Cramer picks, because, like you said there is an edge to be had, even if that edge is only for a few hours.
It seems like in this market it might be worth shorting anything with an uptick though! The thing I am looking into a bit right now is some deep in the money calls for 6 months or so out. I have looked at Lenny Dykstra's column on thestreet.com and he has done very well with this strategy. I plan on creating another blog to track his option picks. Assuming that we are hopefully not too far from a bottom it may be a good time soon to control a lot of shares with options and look for a market reversal......but I'm just not convinced we are quite close enough to that bottom.
...from the web site...
http://www.shortsqueeze.com/squeeze-ranking.php
Short Squeeze™ has developed the Squeeze Ranking™ system used to gauge a stock's squeeze potential. We use a proprietary algorithm used to rank a stocks potential for either a bullish or bearish stock price move. Squeeze Theory™ is the creation of Dylan Wetherill, the founder of Short Squeeze™. The theory seeks to identify the basic principles that cause a stock to experience a short squeeze (bullish) or a long squeeze (bearish).
For example, a Squeeze Ranking™ of 0 is neutral, with unlimited up or down values to mark bullishness or bearishness. A Squeeze Ranking™ of 2,000 would be more bullish than a Squeeze Ranking™ of 50. Conversely, a negative Squeeze Ranking™ of -3,000 would be much more bearish than a Squeeze Ranking™ of -50. As a Short Squeeze™ member you are able to search all stocks and find stocks with the highest Squeeze Rankings™: short squeeze (bullish) and long squeeze (bearish). The process Squeeze Ranking™ system is designed according to the principles of Squeeze Theory™.
Many people assume that short interest in a stock alone biases a stock to either upward or downward price moves. This is not the case. The potential for a squeeze is dependent upon two market forces: the amount of concentrated short interest that exists in a stock and the price action of the stock.
Part 1: A stock's Days To Cover (Short Ratio) and it's Short Percent of Float are both used to identify the amount of concentrated short interest that exist in a stock. The higher these numbers, the higher the amount of relative levels of concentrated short interest there is in a stock.
Part 2: The second factor in evaluating a stock Squeeze Ranking™ is the stock's price action. The stronger a stock's price performance is, the more pain will be felt by people who are short a stock. If someone is short a stock and the price action is relatively flat, there is little immediate incentive for a short to cover their position (buy stock). On the other hand, a stock experiencing powerful upward performance, or even making new 52-week highs, can cause an extreme desire by short traders to exit their trades. This is done by buying stock, which can initiate a chain reaction of buying interest to surge into a stock. This powerful market force is called a short squeeze.
so basically.
if its negative then its going to go UP. the more negative, themore down it will go.
if its positive then its going to go down. the more positive, the more down it will go.
if its 0, then it could go up or down.
am i getting this right?
NO, if it is negative it is showing bearish signs (may continue to drop in pps)
The higher the POSITIVE number the more likely there will be a squeeze