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  • Long and Short Ideas for March 3rd with PatternDNA 0 comments
    Mar 3, 2011 10:46 AM | about stocks: Q, NBR, SLB, GG, MEE, WLT, BTUUQ, HAIN, WFM, NVDA, NGD
    Jim Cramer's Lightning round picks included nine bullish calls and two bearish ones. The nine bullish stocks were Hercules Offshore (NASDAQ:HERO), Nabors (NYSE:NBR), Schlumberger (NYSE:SLB), Goldcorp (NYSE:GG), Massey Energy (NYSE:MEE), Walter Energy (NYSE:WLT), Peabody (BTU), Hain Celestial (NASDAQ:HAIN) and Whole Foods Market (WFMI). On the bearish side were Nvidia (NASDAQ:NVDA) and New Gold (NYSEMKT:NGD).

    Stock No. of
    Patterns
    1-day
    % Win
    2-day
    % Win
    5-day
    % Win
    Average Return
    Per Trade (> 5 day)
    HERO 303 50 45 50 2.6
    NBR 39 43 44 51 1.8
    SLB 12 47 22 58 7.1
    GG 19 48 25 46 -0.3
    MEE 85 47 49 54 2.4
    WLT 16 42 51 59 0.1
    BTU 200 47 53 56 2.7
    HAIN 173 53 58 55 3.4
    WFMI 261 50 55 57 3.3
    NVDA 145 64 59 60 4.1
    NGD 20 51 42 40 1.4

    There is a much more modest appraisal for this week after the bullishness of last weeks' Patterns. There is no advantage in either direction which suggests a trading range will emerge.

    Only Nividia (NVDA) offers a bullish outlook above the 60% probability grade for a higher close in five days. On the bearish front was a 78% and 75% of a lower close by day 2 for Schlumberger (SLB) and Goldcorp (GG).

    The Average Return per Trade was relatively lackluster (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%). Schlumberger (SLB) with its rare Pattern had an Average Return Per Trade of 7.1%, with 75% winners. But there was little else positive on offer.

    Might be a quiet week.

    Stocks: Q, NBR, SLB, GG, MEE, WLT, BTUUQ, HAIN, WFM, NVDA, NGD
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