MaoXian.com -- Archive > October 6, 2004

Intraday Update on PTEN

Update on today's coil pick, PTEN. The stock took off from the get-go and gave a lovely spot above $19.65 to get long with very little initial risk (about a dime's worth). These range contraction plays are very simple, and I'm happy to say that the set-ups I give to donors will be more sophisticated. (I just have to switch a few things around this month before I launch the "new" site... and yes, I will use the donation model, at least at first.)

PTEN, 15-min. Chart

Posted on October 6, 2004 at 17:25, GMT

$4 is the Wall

$4 in SIRI is the Wall... being aware of key price levels will keep you out of trouble.

SIRI, Weekly Chart

Posted on October 6, 2004 at 14:55, GMT

Stocks to Watch

Early movers this morning. This screenshot is posted every weekday morning at around 9:15 ET.

Posted on October 6, 2004 at 14:15, GMT

Stern Gets Sirius

Every day trader in the universe is on top of SIRI this morning... I liked this line from the 8-K the company filed today:

"We estimate that we will recoup our fixed obligations under the agreement [with Howard Stern] when we acquire approximately 1,000,000 incremental subscribers."

Posted on October 6, 2004 at 13:55, GMT

T.T.T. Without C. Means Squat

I haven't read Richard Florida's book, "The Rise of the Creative Class," but plan to. Florida identifies 3 Ts as necessary for economic growth: technology, talent and tolerance. Makes sense. It also helps to have some C: Capital.

Posted on October 6, 2004 at 13:25, GMT

Keep an Eye on PTEN

The coil scanner picked up PTEN. Patterson-UTI Energy is flirting with all-time highs, and you could argue that it has already gotten over the major hump (the horizontal red line) from several years ago. Is this the pause that refreshes?

PTEN, 30-min. Chart

Posted on October 6, 2004 at 7:55, GMT

An Embarrassing Defeat

I watched the vice presidential debate. Edwards wasn't as strong as I would have liked, but he looked good and his Southern twang is invaluable. On the other side, Cheney scowled and growled and stayed steady. Hate to say it, but the Democrats lost this round, badly.

Posted on October 6, 2004 at 7:45, GMT

Commodity-Rich Countries' ETFs

You can see that the equity markets in commodity-rich countries have moved to new highs. The single country ETFs are a very easy and cheap way to diversify your portfolio. (It's best to buy things when they're out of favor, not when they're making new highs.)

Australia (EWA), Canada (EWC), South Africa (EZA), Weekly Charts

Posted on October 6, 2004 at 7:35, GMT

Gross Gets Dissed

Bill Gross's 'Con Job' Was Inaccurate and Flawed, by John Berry:

"Gross may run the world's biggest bond fund, but his column amounted to an inaccurate and analytically flawed diatribe."

Posted on October 6, 2004 at 7:25, GMT

Unusual Suspects

You can find yesterday's Unusual Suspects on the Unusual Suspects page. I've also started to post a screenshot called "Notable New Highs & Lows" that you may find useful.

Posted on October 6, 2004 at 7:15, GMT

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