Thursday, April 15, 2010

NEP cancels conference call...

NEP cancelled their conference call that was scheduled for this morning. This triggered a sell off in the pre-market and it now seems that NEP is going to gap down big when the market opens.

So I have removed NEP from my focus list. However, I have added RINO as it is now very near to triggering a confirmation in the beautiful head and shoulders pattern I highlighted several posts ago.

I plan to short it on either a break below the neckline ($19.00) or on a pullback to the 20 day MA. Below is the chart depicting one of the cleanest head and shoulders pattern after a massive run up in a growth stock that you will ever see.

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