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  • Long and Short Ideas for March 18th with PatternDNA  0 comments
    Mar 18, 2011 12:34 PM | about stocks: BKE, BPO, DEER, GRMN, MFW, HRBN, LIWA, STV, SXL, USNA

    This week, for a change from the usual Jim's selection we instead look at 10-Value picks as offered by Boris Senderovich. His 10 picks were Buckle (NYSE:BKE), Brookfield Properties Corp (NYSE:BPO), Deer Consumer Products (OTC:DEER), Garmin (NASDAQ:GRMN),  M&F Worldwide (NYSE:MFW), Harbin Electric (NASDAQ:HRBN), Lihua International (NASDAQ:LIWA), China Digital TV Holdings (NYSE:STV), Sunoco Logistics (NYSE:SXL) and USANA Health Sciences (NYSE:USNA).

    Stock No. of Patterns 1-day
    % Win
    % Win
    % Win
    Average Return
    Per Trade (> 5 day)
    BKE 201 58 60 51 2.6
    BPO 125 51 52 63 1.9
    DEER 159 61 53 47 2.4
    GRMN 146 60 53 46 2.6
    MFW 78 44 51 53 3.4
    HRBN 49 78 60 68 8.1
    LIWA 100 46 44 50 2.9
    STV 327 54 58 64 3.3
    SXL 110 50 46 51 1.0
    USNA 147 48 47 51 1.5

    There was only one standout pattern in the mix and it belonged to Harbin Electric (HRBN). A strong probability for a higher close today, Monday and next Thursday, coupled with 69% winning trades over the longer term for an Average Return per Trade of 8.1% (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%) makes it the clear player for the week.

    Outside of Harbin there wasn't a whole lot on offer. Brookfield Properties (BPO) and China Digital TV Holdings (STV) both had probabilities of a higher close by next Thursday's close above 60% - but the long term win percentage of 46% and 51% respectively is not particularly attractive.

    The net projection was mildly bullish across the 10 stocks but nothing to get the juices going, especially with the longer term win percentage running at a coin toss (for an Average Return per Trade of 3.0% for the 10 stocks).

    Maybe this market isn't oversold enough to support a decent bounce?
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