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FMD - First Marblehead Corp has dropped quite a bit in recent months. If it can move above $4 that will break a double top and turn into a multi day move towards $6.00. If it really gains momentum this could fill the gap back towards $8 if you look back towards mid April. Watch for a dip Tuesday and if it gains strength and breaks through $4 definately put it on watch for a buy.

CKNN usually I’m not a fan of these low priced Nasdaq’s since they probably have a looming de-list if their share price isn’t above $1.00. But at the same time some of these stocks usually run through $1.00 on plays like that - so I’m watching to see if this can hold its gains and consolidate a higher level, if it can I’d expect it to turn into a good play since it has dropped significantly over the past few months. However - if it can’t consolidate and start heading higher, its not worth to keep it on watch.

CYTX - Cytori Therapeutics Inc on quite the tear lately, watch for it to test $9 before thinking about shorting if it breaks it could squeeze quick and starting jump up by a dime at a time. If it breaks it, wait for it to show weakness and break back under $9.00.

HGR - Hanger Orthopedic Group Inc - If it can hold today’s gains this should test $14 fueled by the 52 week highs - notice the consolidation between $13-14 these past 2 weeks, supporting a move much higher.

NOG - Northern Oil & Gas Inc - Watching here for it to re-test the $15’s if it fails this may be a good short for a buck and a half. If it fails to break under $14 it’s probably going to consolidate and head towards more highs $16+

XRIT- if this holds $2 support this can become an easy double, it has room to run towards $4.00 with a bottom reversal and minor short squeeze, if it can’t break over $2.50 this may head back to new lows.

GTE - Gran Tierra Energy Inc. - consolidated after the last run and is now ready to attempt more highs, last time it stopped right at $7. If it fails to break again this may turn into a long term short towards $5. Watch for the gains to hold from today, if it can start to break higher it may be worth it to be in when it attempts the $7 break as it may accelerate towards $7.50+ on a squeeze.

SINO - Watch for the $10 test, that is the all time low from this recent IPO. The big players in this deal may try to hold it there and a 50% bounce is possible as we saw earlier. It has not yet tried to bounce and has lost nearly all volume. If $10 breaks watch for the panic to play the bounce. If it dips more than 50 cents I will probably take a starter position since theres not too much downside risk, IMO. Again only a small position so that I can sell easily with a small loss if it does opposite of what I am thinking, or I’ll have the ability to add to the position if I want to let it slide a bit before it attempts another bottom.

CBRX watching for an accelerated breakout for a short. $4.50 is where I’ll start watching because it will either top or break through towards $5 on a major squeeze - on which case I’d like to short into the strength and take the scalp when it corrects.

Tags: CBRX, CKNN, CYTX, FMD, GTE, HGR, NOG, SINO, XRIT

This entry was posted on Monday, June 9th, 2008 at 10:37 pm and is filed under NASDAQ, Plays. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.