Elliott Auckland's  Instablog

Elliott Auckland
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Work in Russia and focus on Eastern European equities
  • Trading Ideas For 1 To 2 Weeks 0 comments
    May 3, 2012 11:47 AM

    I've pulled my short of ARM (NASDAQ:ARMH) with decent profit, they are failing to break below support and there is significant options movement indicating a higher move.

    Ultimately I think the market goes risk on, and thus the high valuation will not be punished and the recent pull back will be seen as a buying opportunity.

    Long ARM. I have a 2 week PT of 570p - London listing (about 15% above current price). ARMH

    Long Home retail at 80p now, looks like a trading buy. (about 25% trading upside to former support 100p). OTCQX:HMRLF (has a US listing as well, but I know the London shares in terms of trading; also is where the major moves take place as its a London stock)

    Long All European banks are hitting trading lows, they all look ready for a trading bounce also. I am long term bullish on Italian banks, as Draghi mentioned today Italy has made remarkable progress and is on the right path.

    STD OTC:UNCIF OTC:BMDPF OTCPK:SCGLF . Unicredit and Banca Monte Dei Paschi pose least short term headline risk

    Other interesting short term trading names include Long Apple which is at a lower end of a current range. Long Green Mountain Coffee been hammered on cut growth forecasts but now on extremely cheap valuation and still growing (is down 45% on the day after results last night) AAPL GMCR

    Mako is pressing on support in its new trading range which is around $40, currently at $40.8. Has trading upside to its highs of $45. (about 10%). MAKO

    Unfortunately the stock has been on a small run, but Disney's new film Avengers looks set to be huge, after its international sales are mind blowingly impressive. However, there still could be a 3-5% move off the back of strong box office numbers and risk on. DIS

    Disclosure: I am long ARMH, OTC:UNCIF.

    Additional disclosure: I may open a long position in Home Retail in the next 72 hours.

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