TradeMaster Daily Stock Alerts Blog

Friday, June 27 was a solid one-day performance for TRIGR. I’ll repeat the caveat that TRIGR is not a daytrading sytem. It’s best suited for short- to medium-term trades. Part of the reason for that is market timing. TRIGR doesn’t check index futures in pre-market. And it doesn’t read the news.

So it’s going to put up its Top 5 longs no matter what the market is doing. That’s not meant to be a directional call on the DJIA and the Nasdaq. It’s just what TRIGR does. And if a certain sector makes a surprise rally, like the financials and homebuilders did last week, TRIGRs not going to abandon those positions. In fact, to avoid getting whipsawed, TRIGR is programmed to ignore one-day counter-trend moves.

On to Friday’s action. Graham Corp (NYSE:GHM) opened at $66.72, promptly dropped to $65.50 and closed just shy of $70. Today, Graham is trying to break above $75.

Rex Energy (Nasdaq:REXX) has taken a very similar path, opening at $25.52 on Friday, closing at $26.40 and pushing $27.50 today.

On the short side, First Marblehead (NYSE:FMD) dropped 6% Friday and is down another 6% today. FirstFed Fincancial (NYSE:FED) fell 10% Friday and is down another 3% os so today.

We’ve started calling it the Big Kahuna. That’s BankUnited Financial (Nasdq:BKUNA). It’s been on and off the TRIGR Tops 5 shorts for a while now. A week ago, it traded between $1.30 and 1.40. Today, the Big Kahuna is struggling to hold above $1.

Finally, we’re going to get the Top 5 posted earlier in the morning. Benson wanted me to pass along a reminder that just because the Top 5 comes out early doesn’t mean it’s a daytrading service. I told him I thought we were probably getting the hang of that.

But do pay attention to new entries on the Top 5. Perfect World (Nasdaq:PWRD) is a great example of a relatively new member that has yet to make a move. As for Acura Pharmaceuticals (Nasdaq:ACUR), I still don’t like it. But Benson does. Or did, before today’s big drop. Let’s see if it keeps making the list.

Ian

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