Scan For a Slow Friday Expected - Day Before Memorial Day Weekend
Few on watch for tomorrow. Lots of plays today, if you are around during the trading day tomorrow take a stop in chat at http://www.investorslive.com/chat.php
PSDV nice walk up, finally got some volume and a breakout, watching for any follow through.
TWP - Watching for the gap and run towards $14. That’s the key level here, either it breaks $14 and squeezes more (where we watch for the short on any .50 to 1.00 move) or it doesn’t break $14 and we short it for a correction back to $13.
BHBC - Consolidation around the $2.50-2.75 level, watching for a $2.85 break which could push it through $3+ for a spike back towards $4. If no volume comes in and no follow through… this may just float around the same level and head back into the 2’s. So I’m only watching for the $2.85+ break.
TSYS has been flirting with $5 dollars for about 2 weeks now, closed today at $4.99. After a big dip today and closing at the high of the day this shows a bullish (longs in control) move which may be able to support the break to $5.50+
SINO is going to be the best one to trade tomorrow I expect swings both ways to be enormous $2.00-$3.00 both ways.
MXC / PDO / PFF
These again will be volatile I’m sure, MXC may want to gap a bit to try to scare shorts to cover or it may want to gap down to trap more shorts so it can bounce. Either way the bounce will be limited in my opinion and as you’ll see over the next few weeks the volume will go back to slim to none before it craters back to the $20-22s. But since there is volume, it is in play I do expect a slight bounce. If it test $30 it’all probably screw a few market sellers with the wide spread and those orders will fill $28 range. That’s where I’d buy for a bounce back to $35+
PDO and FPP I’m using the same game plan
PDO may want to test $17-18s before heading back to $22 - $23-25 is top in my opinion the move is done, longs will try to squeeze shorts again but there is a point where it even gets risky for the longs if they get stuck holding a bag of exactly what these companies were 2 weeks ago (nothing of interest to anyone .. anywhere)




May 23rd, 2008 at 11:46 am
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