January 10th - SKS PETM
Cramer's theme tonight was 2 retail turnaround stocks (which he says is rare). The first being Saks Inc. (SKS)
Closing Price: $17.68
After Hours High: $18.50
Percent Increase at High: 4.6%
After Hours Most Recent: $18.26
Percent Increase at Most Recent Price: 3.3%
Sector: Services
Days to Cover: 3.1
Short %: 10.84 %
% Held by Insiders: %
% Held by Institutions: %
50 Day Moving Average: $16.79
200 Day Moving Average: $13.85
Average Price Drop for Sector: 2.8%
For anyone that watches Fast Money, SKS has been a pick of some of the analysts on that show (including Macke who is the retail expert) five times in recent months. I doubt that will have any effect on the price action tomorrow, but it shows Cramer may be a little late in recommending it? Anyway, I don't see many reason why this price should go up any higher tomorrow then it did tonight ($18.50). The stock was down today, has very little short days to cover to cause a spike and I don't see any info for insider or institutional holders (although I don't always trust that info). I think a short anywhere near the after hours high of $18.50 would be a good entry point. If the stock were to go higher then that in the pre-market or shortly after the bell, I think it would be unlikely to go higher then $19.
The second retail turnaround was Petsmart Inc. (PETM)
Closing Price: $30.22
After Hours High: $31.20
Percent Increase at High: 3.2%
After Hours Most Recent: $30.75
Percent Increase at Most Recent Price: 1.8%
Sector: Services
Days to Cover: 2.7
Short %: 2.92 %
% Held by Insiders: 1.46 %
% Held by Institutions: 86.00 %
50 Day Moving Average: $29.40
200 Day Moving Average: $27.13
Average Price Drop for Sector: 2.8%
Based on percentages, SKS is up more after hours, which means it has more room to fall which makes it a more favorable pick for shorting. The stock was also up just over 2% today and did just break through its 50-day moving average price on higher volume then average which are bullish signs. The stock is also declining after hours, so for a worth while short in the morning, it would be nice to see a spike back up to at least $31.
Finally, Cramer played "Am I Diversified".
posted by CramerTracker @ 1/10/2007
24 comments
Comments on "January 10th - SKS PETM"
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Anonymous said ... (January 10, 2007 6:17 PM) :
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CramerTracker said ... (January 10, 2007 6:33 PM) :
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Anonymous said ... (January 11, 2007 3:56 PM) :
post a commentIts like trying to catch a fish jumping out of the water. I put an short order for 18.50...it did not get filled...I'll watch and see if it goes up a little during the show...not sure I want to get in at 18.30 or not...
The after hours are so hard to get a read on sometimes. Thats why I like shorting in the morning when the market is more liquid. I would guess it would go back down to at least 18 tomorrow if it doesn't break 18.50.
Is the show already over for you guys? It's only half way through here. Got 2.6k in @ 18.34 and out @ 18.24
If the show airs an hour earlier for some, then the after hour price must peak twice, because I'm seeing the same spike you are posting.
OT; your take on AAPL at these levels
I watch from 6 to 7pm Eastern time. It just finished as I type this now.
I think you are asking for my take on AAPL? I like their new products and think they will do well (the phone and a system to link computers and tvs). They have an estimated 5 year (per annum) growth rate of 20% with a forward p/e of 29. That means if the company doesn't hit any growth obstacles, the stock price easily has room to grow. The lawsuit over the name iPhone from Cisco probably won't hurt the stock, but if it brings it down it may be a good entry point. And as Cramer always says, buying in increments is always a good idea. Also, keep in mind AAPL reports on the 17th. There could easily be a pre-earnings runup as I am sure there are expectations that this was an "iPod Christmas" and that sales could have been very strong for the previous quarter. But with high expectations means they had better beat their numbers and give good guidance, or all the momentum players will flee. But please don't just take my opinion and make sure you do your homework (if you haven't already).
You said somewhere else that you use Questrade. I use it as well. I just want to know why you use Questrade rather than Interactive Brokers, since they appear to have cheaper commissions. I use it for it's decent $4.95 commission and the fact that they give you $100 in free trades for a referral (and the referred get $50), which is great for me because I'm in university and am trying to convert a bunch people to start trading/investing.
Thanks for your imput on all this cramertracker. To thoes other posting comments and reading this blog lets not forget to take a click on and look at some of the adds on this page. For thoes of you non bloggers this is how bloggers get paid (it aint much but it is nice) for some of the information they provide. Jason, why did you cover your short so soon. tyicaly the low gets hit the next day 10-10:15. There is nothing wrong with takeing profits on the other hand. Im going to try to short SKS in the morning spike and I got PETM in tonight. We will see how all this goes.
Why dont you guys use Zecco. No commision trades...Im not trying to sell them...just look into it. Its great for day trading. I think its like 3 free trades per day
To be honest I use questrade on a referal from someone who posted some comments here a while back. I got booted from Ameritrade Canada when they merged with TD and had to find an alternative to TD because they charge so much more for trades. I can't say I'm totally sold on the platform for questrade (webtrader) but it does the job (but I really enjoyed Ameritrade). In the end, as long as I'm not paying over $10 per trade I'm pretty happy. Having said that, there certainly wouldn't be any harm in me checking out Zecco. Thanks for the heads up on that.
KO takes MOBE at the open! Any ideas how to play this...
I can't seem to get a feel on his picks. But they do seem to initially go up more so than Cramers -- But this thing already went up alot today.
I'd say Go long in the pre market. Try to be one of the first buyers before most people realize what is going on. It should be in the 4's all day though -- the day trade is a little bit out my confort zone though.
It maybe more of a good swing trade for a week. But I would go long on this. Off to watch some Cramer videos... Yes I have no life
Ko is very hard to get a read on beacuse not everyone sees the picks at the same time like people do with Cramer. It causes a little more drawn out volatility. I normally check his site for his picks, but didn't the last few days. I was thinking maybe there is a call/put strategy that could be used with Ko's picks? Maybe some protective puts on a long position? It may be a little too cheap of a stock for that though.
Green Alien,
$260.00 is more than my regular job pays may a day. The way I figure it, I worked doubletime all day today with ony half the work.
Who is KO...(not talking about coca cola I assume. Where can I see his picks? Thanks in advance
Thomas Ko is part of MSN Money's strategy lab, where there are a bunch of investors that compete in a fantasy portfolio. Ko himself won a spot in the lab after winning some other competition. He has a large following and his picks always sky rocket. It looks like the are starting up a new round so there isn't much activity for him yet. The link is a link to his commentary and specific transactions.
http://articles.moneycentral.msn.com/Investing/StrategyLab/Rnd15/P2/Transactions.aspx
Shoot. Looks like the link got cut off. Anyway, type in Ko Strategy lab into yahoo or google and you should find it.
Found it, thanks Ill keep on eye on this.
Cramertracker,
Your comments about PETM stated that you would like to see it hit 31. Well I got in at 31.3 a few minute ago, so well see what happens. Is it best to get in and out early in the morning?, or is it safe to play in the middle of the day too.
When I say I would like to see it come close to $31 it means in the morning (like right after the bell) because that means the Cramer buyers have all rushed in and pushed the price up, and it could be ripe for a quick fall. For me, after the morning spike and drop is over (if it happened) then the trade is over for me, because after that, the market takes over and decides to support the price or not. This strategy is more about taking advantage of the people who buy Cramer's picks blindly at the open (or after hours). So again, I personally don't short later in the day.
Anyone,
How often does KO do his picks?
Ko has no pick schedule that I'm aware of. He just adjusts his portfolio whenever he sees fit. Before the end of last year he even sold all of his positions as he was expecting the market to fall.
Yes I agree with cramertracker...the trade is over for me by 10:15 most all the time. For example today...I was able to get out of SKS at 18.10 after buying at 18.20 (by no means the high) I made a little on it but then SKS rose and is at 18.41..OUCH! however PETM bit me on the @ss I covered at 31.20 after having got in at 31...another net negative trade for me...I think its harder if the market in gerneral is not good for shorts...I don't know