Into JC Penney ($40.15)

Admittedly in too late and overpaying but I need a spec. stake now after watching for so long. I fully expect it to pull back but...had to do it.

US Steel (X $31.05)

Back into US Steel. Looking for the short squeeze.

Caterpillar (CAT $112.99) blew away their numbers. Netflix ($117.86) is killing the shorts again up $22.82.

Sears (SHLD $49.80)

Until the recent activity in Sears I haven't paid much attention to it since 2007 and 2008. It's up almost 50% in the last week but down 50% since I'd looked at it. Perhaps 4 years is long enough for a turnaround. Let's see what happens.

Blast from the Past

My first 10-bagger as a young broker was Broadvision (BVSN). I haven't looked at this stock for a long time, maybe years, and it's in the news because of the spike in volume over the last couple of days. The stock was a highflier during bubble 1.0, crashed, did a 1:25 split and has now doubled since October 2011.

I had discovered the company reading some tech rags like Red Herring, made some calls, established a line of communication with them and started to build a position. I still remember the day that their PR kits came in a box shoddily taped together as if to say "we've got better things to do than send these to this guy". That's when I knew that I had a good one and I still have one of those kits today.

Ahh, good times. As for the stock today? I wouldn't touch it, momentum or not, 'cause the fundamentals are shit but it still captivates me every time I see that name.

Cramer Pounding the Table for BRCM

I'm not much of a bottom fisher but I did mention that Broadcom was one that I'd make an exception for. Cramer highlighted Broadcom (BRCM $33.35) during his show's "Bottom Fishing for Semiconductor Stocks" segment.

Sandisk (SNDK $51.99)

When I see a chart like this pop up on the screen I immediately think, "Oh yeah, this could get good."

Auto Plants Adding Third Shift

Bloomberg reports that auto plants are at capacity and have added a third shift translating to 24-hour-a-day production for the first time since 2009.
Bloomberg states, "US light-vehicle sales rose by at least 10% for two straight years for the first time since 1984 and grew at a faster rate than China, the world's biggest auto market, for the first time in at least 13 years."
Not only is this obviously good for dealers but also those that are affected upstream like US Steel. This is good news and will help make the decision to buy X even easier when it breaks 29 1/4.

Read the rest of the article

Questcor's PR Engine Revved Up

A number of Questcor news releases have come to light since the falloff in the stock.
In a detailed press release Questcor refutes the claims by TheStreetSweeper.org, took the criticism head on and answered questions by participating "in a telephone conversation with Melissa Davis, who identified herself as a "reporter" for StreetSweeper".
All sorts of QCOR write-ups have been penned in Seeking Alpha includuing a story by David White, an investor with a significant background in biochemistry who writes that Questcor's is quickly building a multi-billion dollar business and that "MS Scripts have grown consistently from 78 in Q1 2009 to 935-950 MS Scripts in Q4 2011".
Brian Lazorishak highlights QCOR on TheStreet.com as one of three non-household names for 2012.

US Markets Keep Moving

US Markets are poised to move higher at the open after good news from a Spanish debt auction and relatively good news out of China reporting that GDP grew 8.9% in the fourth quarter.
Since my bullish note on November 30th the S&P had signaled a triple top breakout January 3rd and with today's action looking to cement itself above 1292. Things are looking pretty good. Keep snacking on long positions.

Agrium on Friday the 13th

AGU ($77.31) got hot at around 2:30 PM EST Friday the 13th and volume spiked resulting in a day with 2X volume. Took a spec stake January 4th at $71.66 after a double top breakout 1/3/12.
It was one of the best performing large cap stocks during the week of January 9th returning 10.47% for the week and 15.20% YTD.
I've not found any significant news. 
January 19th: CIBC Whistler Institutional Investor Conference
February 8th: Earnings Release

More on Questcor

Apparently, QCOR is cratering because of an unfavorable mention in The Street Sweeper, an organization dedicated to exposing corporate fraud. I can find nothing on the blog thus far. Out of this one for now.

Questcor (QCOR $36.32)

Great. Questcor just got punched in the stomach at 10:45ish. Cratered 5 in 45 minutes. Somebody know something? That's institutional movement. Interesting. Throw that news on the scripts out there to garner some strength in preparation for other news. Perhaps that "other news" fell into somebody's lap.
There goes the gains from NFLX.

US Steel Has 24% Short Interest

The Netflix trade worked out so well due to its 18% short interest before it ran up. Terranova and Seymour, during Fast Money tonight, mentioned that US Steel could be another that will set up if auto sales continue to look good and the housing market rebounds.
Back up the truck if it breaks 29.25.

NFLX Down 4 Today

Netflix is back down to 94 and change after almost hitting a hundo yesterday. Will it bounce back? Will it fall back? I don't care. 20% is 20% and you book that...all day, every day.

Questcor (QCOR $42.60)

Into spec stake on strong scripts. Twice the daily volume in the morning session alone.

Netflix (NFLX $88.89)

Surging on good volume. I'll ride this thing for awhile and ratchet up stops.

I think that JC Penney (JCP $34.64) gets worse before it gets better but I like the potential story.

JC Penney (JCP 34.96 +1.19)

JCP up nice today on 2X volume. I've been eyeing an entry point ever since Apple and Target star Ron Johnson joined JCP.

He officially took the reins as CEO Nov. 1 2011 and wasting no time in making moves:
@BusinessInsider articles: Ron may institute a Genius Bar-like atmosphere in JC Penney and he's bringing in talent.
Ron says in this Businessweek Article,"I'm not here to improve, I'm here to transform."
"But you don't need to stock iPads to create an irresistible retail environment. You have to create a store that's more than a store to people." as written in Harvard Business Review.

D & D

Snacking a little more Deere (80.50) and Disney (38.73).

S&P 1276
DOW 12407
NAZ 2648

Spec stakes in AGU (71.66) and NFLX (79.92) too. Sold half of BWX.