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

Wednesday, February 21, 2007

On Tap For Thu Feb 22, 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.

Whoa...tomorrow looks like it's going to be a busy day with lots of earnings. I'm watching to see which of the following companies are making big moves tomorrow. Here's the list:

  • The following companies reported after the close today (please note that these are not all the companies that reported after the close - just the ones I'm watching): Inc. (CRM) - down in after-hours
Ambercrombie & Fitch Co. (ANF) - down in after-hours
Analog Devices Inc. (ADI) - up in after-hours
Kinross Gold Corporation (KGC) - down in after-hours
Oceaneering International (OII) - down in after-hours
Trinity Industries Inc. (TRN) - up in after-hours
  • The following companies are reporting before the open tomorrow (please note that these are not all the companies that are reporting tomorrow morning - just the ones I'm watching):

  • Finally, I'm watching General Maritime Corporation (GMR) after it declared a special one-time dividend of $15/share after the close today...GMR was up 7.2% in after-hours trade; GMR closed at $39.72

Please note that those stocks denoted with a * and highlighted green indicate that they are on the SHO Pilot List which means you can short them on a downtick.

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  • Don't overpay on GMR

    Im long on the stock $35.69/sh and selling covered calls. the company took an early hit unloading single-hulled tankers NOW ahead of the industry mandate for 2010. The fleet is younger, more modernized and in prime position to attract contracts and spot rates for future.

    Fundamentally the company is gorgeous, so the last year's stock price decline on revenue disappointments was a great buying opp.

    The special dividend only justified the contrarian/value purchase here, but while the stock may zoom to $50 while many try to pile in for the special dividend, be aware that it is a THIN stock and it may be hard to get out as quickly after the declaration....between tax burden and the quick depreciation of the stock, you may actually take a loss if chasing the stock to far.

    The company is solid.
    If you buy under $45, you may still be able to hold and cover with a $45 or $50 call.
    Good luck!

    By Anonymous Matt Goldseth, at February 22, 2007 8:53 a.m.  

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