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  • Long & Short Ideas for February 17th with PatternDNA 0 comments
    Feb 17, 2011 10:58 AM | about stocks: POT, LVS, WYNN, CSCO, MPEL

    Using the free version of PatternDNA we took a look at Jim Cramer's Lightening Round picks.This week Jim had just a handful of picks - some of which were repeats on earlier picks. Jim's bullish picks for this week were: Potash (NYSE:POT), Buckeye Partners (NYSE:BPL), Scripps Networks Interactive (NASDAQ:SNI), Disney (NYSE:DIS), Las Vegas Sands (NYSE:LVS), and Wynn Resorts (NASDAQ:WYNN). Bearish was he on Cisco (NASDAQ:CSCO) and Melco Crown Enteratinment (NASDAQ:MPEL).

    Stock No. of
    Patterns
    1-day
    % Win
    2-day
    % Win
    5-day
    % Win
    Average Return
    Per Trade (> 5 day)
    POT 53 66 56 66 4.6
    BPL 94 52 58 52 5.0
    SNI 116 39 38 50 2.1
    DIS 97 69 61 60 3.6
    LVS 278 52 54 61 4.1
    WYNN 175 56 62 55 6.2
    CSCO 45 59 64 63 7.3
    MPEL 248 40 43 45 2.9

    Of the eight picks there was a 54.1% probability of a higher close on day 1 (i.e. today's close) rising to 56.5% on day 5 (next Wednesday's close). The outlook for next week is more bullish than it was this time last week.

    Unlike last week, there were a number of stocks for which there was a greater than 60% probability of a higher close, and one which offered a greater than 60% probablity of a lower close.

    The most bullish outlook was for Disney (DIS), with expectations for a higher close for today, tomorrow and next Wednesday at 69%, 61% and 60% respectively. However, at an individual trade basis it had a relatively modest Average Return per Trade of 3.6% off 60.2% winning trades (Average Return Per Trade assumes an initial stop of 10%, raised to 5% off the price reached on a 15% gain. Ultimate Profit Target of 25%).

    In terms of profitable trades, Cisco (CSCO) topped the list with a Pattern which offered 72.7% winning trades and an Average Return Per Trade of 7.7%. It too had a strong probability of a higher close by end-of-day Friday and next Wednesday.

    The one bearish outlook was for Scripps Networks Interactive (SNI). There was a greater than 60% probability for a lower close on Thursday and Friday, improving to a 50:50 chance of a higher close next Wednesday. Overall, Scripps Networks Interactive had a Pattern which generated 54% profitable trades with an Average Return per trade of 2.1%; so while not outright bearish it tended to underperform.

    Stocks: POT, LVS, WYNN, CSCO, MPEL
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