Wednesday, January 19, 2011

Update

Apart from IMRS and UTA, nothing else triggered from last night's watch list. Well UTA never recovered and sold off very hard along with most of the market. IMRS did not really move much and with the weakness in the markets I would have peeled back about half of this position.

GGAL exploded in the afternoon to close up over 6% today and up over 7% from where I recommended buying. This is a stock to hold into the 17ish resistance looking for a break out. I would take half the position off into this level and hold half with a stop at break even.

AUGT pulled back into the close but still looks good. The worst I would take on this position from here is break even.

PAM continues to look very good although the volume remains a bit low. This stock is a definite hold with a stop at $17.25ish.A break of $17.75 could lead to a huge push. This stock has a history of spiking in the morning then doing nothing for the rest of the day. If it breaks out it might be a good idea to exit half into the morning spike and hold the other half looking for a bigger move.

GSL continues to act nicely despite the weak market. I would move my stop on this to the $6.20 - $6.25ish area.

Hope you find this useful.

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