Today is actually a positive day for us that is overshadowed by the likes of one Skechers Inc. (SKX). We are about to exit three positions this morning in the green. I start with Key Energy Services (KEG). Despite the company’s report that they made an EPS of 0.05, it appears without some one-time gains the company did not hit estimates. I have no idea how it is possible given the numbers they reported, but it is what it is. The stock is slated to open 0.5% above where we bought in, and I will be out of our last 1/3 of the position at the open. It will probably all average out to a gain of a little under 2% since I locked 2/3 of selling at an average price of 10.225 yesterday. Additionally, we are looking out a nice open out of Yingli Green. After entering at 11.83, the stock is poised to open in the 12.20s. We are looking to exit YGE at 12.28 and above. Finally, on the positive side, there is Krispy Kreme (KKD). We got involved at 5.63 yesterday, and the stock is looking to open at 5.85 or more for a solid 4% gain. I will be looking to exit this one around 5.90 area or more.
Three solid trades that could log some nice gains. They are all overshadowed by one Skechers Inc. (SKX). In all my days of playing earnings, never have I seen a company fall short of even the bottom line. What were all the analysts thinking? Anyways, Skechers is a dog, and we are going to have to sell this one. I actually do not want to sell right out of the gate. We have a green day with a strong market that should help to add some quick gains to SKX from its 16% drop it is logging in pre-market. I will look to sell within the first thirty minutes, but let’s see what we can get out of it. I think we will look to sell our second 1/2 close to a 10-12% loss to average our loss to closer to 5-6%.
That loss will be neutralized by a KKD or YGE gain, and we actually end in the green.
Since I am maxed out on Buy positions, I will do a Midterm Trade this morning instead of typical Buy picks. Short sales look to be…
