Tuesday, February 8, 2011

Update and watch list for tomorrow...


$STVI since triggering a buy yesterday @ $2.90 is now up about 19%! This stock is still a hold as it closed right at the HOD and on stronger volume than yesterday. Note, however, that this stock is now becoming very extended. So I will be looking for a big gap up and/or big price/volume spike to sell into now.

$EEE triggered right off the open cracking the $4.40 level on massive volume and was down as much as 12.5% in the morning. Ordinarily would have booked into the panic but with only 3 day trades (I am imagining that I were live...lol!) holding over night looking for another panic or gap down is worth the risk. So will be looking for either of the two to book profits. Other wise a push and hold above $4.25 - $4.30 triggers an exit for about a flat on the trade.

$NTUR never triggered and was dropped from my watch on account of extremely low volume. This is a pure gamble..stay away!


My best idea for tomorrow is a long swing in $CHGS.

$AVL, $MCP and $SHZ moved up big today with $AVL being the clear leader up almost 13% on about 9.6M shares. As often happens, I believe that $CHGS (the laggard) will follow the leader and break out of the very clean pennant it is currently forming. The entry trigger is $3.40 ish with a stop @ LOD. If it gaps up wait and see how it as well as the other rare earths are trading before getting in; let it trade for about 1/2 hour then look to buy if the intra day trend is up with a stop @ LOD or if it gaps up and then pulls back look to buy when it goes green with a stop @ LOD.

I also like $ALJ for a short. However, I would like to see some sort of spike and preferably after a gap up on massive volume, side ways intra day move and then a crack of support on heavy volume. A simpler approach will be to wait for it to spike in the morning, go red in the afternoon and then shorting into the close looking for a gap down or morning panic the next day.

Thats all folks.

Good luck and good trading!

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