The last piece of the puzzle in the market now that all of the major earnings are in… is the Fed’s rate decision tomorrow. Join us in chat tomorrow and take advantage of the volatility in the market. Most of the time stocks moves in the opposite direction first. before retracing and breaking to new highs (if its what the market anticipated) BUT not always, so its best to keep the trades quick and profitable, and cut losses if it doesn’t spike in the direction you anticipated.

Yahoo’s Release

ENOC reversal watch - watch here for the $16 break here this can start a major reversal but more importantly a short squeeze opportunity.

TMY - not a fan, watch for this to test .75 again, it could spike towards $1.00 but keep in mind it was just at .235, who isn’t content at 300%, once it starts to sell off you’ll see this right back to the .40s

SOHU $73 break is the squeeze trigger - if it can’t break it again it may retest through $70 (-$2.00 correct potential)

SWHC - looking for a ‘gap and crap’ in the $8 dollar area - if it heads above $8 you need to be cautious if it holds the $8 support, I’d like to see this squeeze towards $8.50 to 9 before betting on any correction back to $7.25-7.50. After it consolidates this may see $10 short term

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As I had mentioned before it’s not always the next day that the scan plays out. Most of the charts I post are up over 30-40% in just the past 10 days alone. Note how they’ve squeezed, topped off and corrected.

The two previous scans with the most charts can be found HERE and HERE.

MMR - Three failed attempts to break higher than $29 and change (-$2.00 correction)
EXM - Four failed attempts to break $45 dollars (-$5.00 correction)
JRJC - After the squeeze to short on detailed in this point (-$3.00 correction)
BEXP - Double top at $10 - unable to break ($-1.00 correct)
HL - After a failed second attempt to break $13 ($-3.00 correction)
CLR - After a squeeze Monday $1.00 after the mornings dip ($-5.00 correction)
CF - Unsuccessfully breaking $160 after a multi month squeeze (-$29.00 correction)
BTU - After the quick squeeze above $70 - the breakpoint and failure it’s base ($-10.00 correction)

This is not a “I told you so” style posting. AT ALL. This is to show that yes it does work, we wait for the pattern to play out, you need to focus on break points (previous highs, psychological, 52 week highs, double/triple tops etc.) and watch for weakness. Additionally it’s worth watching for spikes. I tend to watch for a spike of .50-1.00+ to short on, normally if these types of squeezes happen (or even a multi dollar squeeze) this signifies a “blow off” to the squeeze which you need to take advantage of. Many would argue that shorting is the riskiest thing to do since you can lose everything… but I’m not suggesting going short for a long period of time, you are simply taking advantage of an over extension.

As I mentioned in last nights blog, it might be time to buy after some of these consolidate, after all in most cases its healthy to have a pull back. Get the traders out, those happy with their short term 30-50% gains (as I said most scans are up 30-50% in 10 days), shake out the weak and bring in a new batch of longs taking a position for the longer term.

I will have a scan for tomorrow (Wednesday) shortly!

Previously highlighted HERE in our Under the Radar stocks section, GTXO is developing a very nice chart

GTXO I like the way this is setting up

KYUS - busy week last week, spike shake recover shake recover shake, now steady again?