An NYSE Scalper's Tale - A Trader's Diary

Thursday, January 11, 2007

On Tap For Fri Jan 12, 2007

The following are some of the NYSE stocks that I will be keeping an eye on and possibly trading tomorrow. Obviously there may be news on other stocks that come out overnight or in the morning, so I may be trading those stocks as well.

Hrmmmmm....there are a few stocks reporting earnings warnings in the list. Here it is:
  • Murphy Oil Corporation (MUR) lowered guidance for Q4 after the close...the company now expects Q4 earnings to be 40 - 45 cents per share while average estimates were for 63 cents per share; MUR closed at $46.25
  • SAP AG (SAP) dropped like a rock at around 3:15PM today after it announced that it's expecting less-than-expected revenues...SAP dropped more than 10% during the last 45 minutes of trade; SAP closed at $48.50
  • Advanced Micro Devices Inc. (AMD) also warned after the close today...AMD is now expecting revenues of $1.37 billion while analysts had been expecting $1.84 billion...AMD was trading down 2% in after-hours; AMD closed at $20.18
  • Lear Corporation (LEA) was up 14.4% today after it upped it's guidance...I wanted to trade this stock today, but I didn't find a good opportunity to do so; LEA closed at $31.81
  • I'm going to continue to watch ConocoPhillips (COP) continues to move down and I need to practice a little more patience when trading this stock; COP closed at $61.82
  • I'm also going to continue to watch AMR Corporation (AMR) and Alcan Inc. (AL) as they both continued to act strong today
  • Finally, I'll watch these stocks as they made 52-week highs today: MGM Mirage (MGM) which closed at $68.55, Hewlett-Packard Company (HPQ) which closed at $42.64, and Tyco International Ltd. (TYC) which closed at $32.15

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  • As a trader, all of your trades are counted as business income and taxed at regular income margin tax rates correct? What business expenses can you claim as a trader?


    By Anonymous, at January 12, 2007 2:05 p.m.  

  • hi,jc
    DO you only trade the stocks having news recently ? my friend is good at trading these stocks. he offen get 1000shares/per trade.
    IN CHINA,this month,almost all proptraders can't trade NYSE and NASDQ,because earthquake had happen in TAIWAN that lead to the line connecting America was shattered.
    JC , which coutry do you live in now? CAnada?

    By Anonymous wj, at January 12, 2007 4:04 p.m.  

  • MillionDollarJourney,
    Thanks for your comments. To tell you the truth, I'm not quite sure! This is the first complete year I've been doing this, so I'll probably have to ask the branch manager at where I work. If I find out, I'll let you know!

    Thanks for your comments. Yes, recently I've been focusing on stocks in the news, but in the past, I mainly traded the same stocks everyday (I used to trade WMT, MOT, GE, AMD, HD, HPQ, C everyday). But I think there are more opportunities when you trade stocks in the news. Yea, I heard that earthquake that disrupted the lines overseas...hopefully they'll get it fixed soon. I currently live in Canada in the city of Toronto.

    Have a great weekend folks!

    By Blogger J.C., at January 12, 2007 7:56 p.m.  

  • Regarding the bounce in Oil on Friday, I thought readers might find this free article I published last night interesting -

    Best Regards,

    By Blogger RalphSE, at January 13, 2007 6:03 p.m.  

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