Some short potentials for week of 4/21/08
Thursday and Friday gave us quite the surge in the market, hopefully a lot of that carries over on Monday… especially to some of these smaller cap stocks where we can take advantage of the inefficiency!
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UFPT - Watch this one here if $11 doesn’t crack we could see $9-10.00 very easily. Back in late December after it ran up it corrected very quickly within three days. If it does watch for at a .50-$1.00 spike towards $12 before taking any position as it could squeeze to $12+
WMG Watching for $8.50 break followed by the $9. $9 was the last highs and held it down before a quick $3.00 correction. That kinda move intrigues me… so on watch!
If BONT doesn’t break $8.00 it will be a good short. It had some trouble three months ago failing to break any higher. This can head back towards $6.75-$7.00 on failure to break.
CDY - watch for $2.00 break. Every big run it has is always followed by many weeks of falling back. Everyone will watch for the $2 break but if it can’t … 1.50-1.75 is coming shortly…
DXCM almost a double now, watch for this to break $7.30 (Friday’s high) if it doesn’t a short is in the clear with a stop loss at $7.30 or above. This can head for a 50 cent to dollar correction but I’d like to see one more day with a try towards $8, but doubtful.
FCSX seems to be getting a bit toppy again, watching for it to break $40 towards the upside. If it does I will either short on a squeeze or .. wait for it to head back under $40 to short. It may correct back towards mid $30s. This could squeeze to $42+ based on how the chart is turning up, so the play … only one it puts in its top will I short
KOG made scan again, if it fails to break $3.00 its a good short, hard bounce off $2.50 tells me longs are in control.. but for how long? If it does break watch for a .25 to .50 cent squeeze to short on.
OSTK had a nice run, I feel like it may still be a buy with a run towards $20 before it decides to lose $18 and head back towards $16. So there are two plays here…
RDTA (TIGR), geez give me a $10 gap area followed by a sell of to $8.50 and a job well done.
NOG doesn’t want to give up, seems like longs are trying to hold the $10.00 mark. Although this is up a lot lately its realy holding, a loss of $9.85 will send it for a correction towards $9 but its not that much of a ‘no brainer short’ based on how its been acting, could squeeze towards $11-12 before we see a nice $1-1.50 correction on the short side
Potential Longs!
Keep V on watch for breakout! $70 break again people will start thinking $100 is imminent!
Tags: BONT, CDY, DXCM, FCSX, KOG, NOG, OSTK, RDTA, TIGR, UFPT, V, WMG
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