Navivest Stocks and Options Blog

Stocks To Watch – 06/30/10

Jun 30, 2010 Stock Market, Stock to watch, Stocks

With the major indices trading in a very tight range, there isn’t much movement in individual stocks. A few standouts include electric car company Tesla Motors (TSLA), which went public yesterday and gained 40% in its first day of trading. The stock is up another 33.12% so far today, on a $6.83 to $27.45 in the shares.

Fertilizer producer CF Industries (CF) is up $3.17 or 5.12% to $65.13. Online retailer Amazon (AMZN) is up $3.33 or 3.07% to $111.94.

Among the losers, Celgene (CELG) is off $2.11 or 3.96% to $51.13. The stock is off the lows of the day however. CELG traded as low as $49.54 in earlier going.

Tags: amazon, celgene, cf industries, tesla

Amazon A Possible Buy On Disapointing Forecast

Apr 23, 2010 Company News, Earnings, Stock Market, Stock to watch, Stocks On The Move, Trading Idea

Yesterday after the bell, online retailer Amazon (AMZN) reported better than expected 2010 Q1 revenue of $7.13 billion, against estimates of $6.87 billion and net income of $299 million or $0.66 per share, against forecasts of $0.61 per share.

Tempering the better than expected earnings news, the company reported that it expects operating profits for the 2010 Q2 period of $220 million to $320 million on revenue of $6.1 billion to $6.7 billion against forecasts of $6.43 billion in revenue and $327.8 million in operating profit.

On those forecasts, the company’s stock was sold off in after-hours trading, tradiing as low as $139.50 overnight. Fifteen minutes before the opening bell, the stock has recovered somewhat and is now only down $4.92 to $145.17.

Traders might want to watch the stock and if it continues to improve, go long the shares. That the stock is not down substantially could be a bullish sign and we may actually see it close higher today if the overall market is in bullish mode. If buying the stock, do so only if it is moving off the current lows of $145 and make this a one day trade, exiting the position today.

Tags: amazon

Amazon Extends Downward Trend

Mar 24, 2010 Technical Analysis, Trading Idea

On February 26, Amazon (AMZN), which had traded sideways since the first of February, began a sustained upward climb that saw the stock close higher everyday but one through March 11.

On March 11, the stock closed at $133.58. The next day, the stock hit a high of $134.20, but closed at $131.82, a negative signal, considering the recent bull run. During the trading day on March 12, we sent out an alert to subscribers of The Options Capitalist, that they purchase the April 130 puts as we felt the stock had hit a near term top.

Since then, the stock has slowly trended downwards, closing today at $128.04.

We would have liked to see the stock close below $128, which would have been a breakdown of near-term support. If the stock holds above $128 tomorrow, we will be closing out the position.

With a hold above $128, Amazon could rebound a bit although we do advocate caution. The market is still due for a correction and the Greece story keeps getting worse and now Portugal is coming to the forefront with its problems.

Tags: amazon, amzn