EXM and MMR take a breath … TBSI and GSI follow - UNS hawk watch
I hope you’ve found some of this weeks plays profitable. EXM is down near $4.00 from where it opened.. this is a text box “gap and crap” as explained in the last post. MMR is down just over a dollar, it still has a way to go.
TBSI is down over $4.00!!!
GSI down about a dollar! Right past our $10 dollar target to cover
UNS is squeezing over the $32 dollar mark. $33 dollars is key here, it can either break it and spike or it can jumble around just above $33 before losing steam and falling back under. Watch for any .50 cent spike to short on if it does squeeze over $33. The best strategy (the one I will use) is see how it reacts once it breaks $33 on the dip back under it, if it doesn’t break it again, odds are in your favor.. (Similar strategy to KOG join the weakness, don’t throw a dart guessing at the top)
Watch it like a hawk from here on out. If it loses $32.50 profit takers will start to come in by the masses hoping to by it back $3-5 dollars lower.
UNS is currently at $33.03 as I right this post, looks like a top is being put in BUT has not yet been confirmed. It’s always a good strategy to take a partial position whenever enter your trade on plays like these, worst case you are wrong and you only lose a percentage of what you would have if you dived right in! You can always add to your position once it has been confirmed. For example (on UNS), it may want to test $33 dollars a few times before it decides to top off, or…… it may break it and sprint to $34 (in which case you’d look for a .50 cent spike as mentioned above). This can have a $2-3 dollar downside potential over the next two days IMO (in my opinion). As far as downside and when the steam will pick up, if $32.50 breaks its possible to knock out a few stop losses and see a quick move towards $32.25 - if this happens the magnet will intensify at $32 and probably end up there by end of day. Good luck and don’t forget to take profits!
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April 25th, 2008 at 1:04 am
[…] - without going into detail again, the way it should be played can be found HERE. To add, it may gap over $32 tomorrow to try to scare off some short sellers into covering, tease […]