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USS great short today! It didn’t break $5, showed weakness and continued to fall over 20% from its peak! It never turned back to test $5 again and fell throughout most of the afternoon. Congrats! This is from last nights scan HERE.

USS I’d like to see a second test on $5 as it very well may break it, if it does I’m watching for a .50 to $1.00 spike to short into, if it doesn’t break $5 and shows weakness i will probably join the sellers and cover only if it test/breaks $5 again

MNKD setting up a beautiful chart here, keep on breakout watch, from scan HERE.

MNKD starting to turn up a bit, this one has fell from grace. This is a buy if it breaks back over $3 and holds it, and I’d add on a $3.25 break. It’s failed to break it the past two attempts ($3.25) but take a look at the 6 month chart below this one… you’ll see the move that it “could” have if it reverses

HW - Watch for the $13 break out of open, this is not an immediate short as there is still upside potential. I’d like to see a gap and squeeze towards mid $13s-$13.75, and once it shows weakness probably short it back towards $13s.

SCON - Setting up similar to (USS) from scan HERE, I’d watch for the $2.50 break as this could squeeze towards $3 easily - I’m watching for a spike in volume with little price movement to signal a top

Bullish Charts

SGEN on a $11 break may see $12-13+ here short term, I’m not convinced yet it needs to break and hold $11

GVHR another bullish chart double topped if you look back to late June you’ll see it peaked out at nearly the same place. I’d like to see this test $8+ quickly for a short, but if it does a gradual move it’s not an attractive short but probably a better long on dips.

RTK - it may be a one day wonder like HDY was today, but if this can consolidate and hold $2 this may be attractive for a squeeze over previous highs

SKNY had 16% gains yesterday, 6% gains today I’m a seller on the gap tomorrow if it doesn’t carry some momentum into market open. Scan HERE.

AKRX squeezing higher, over $5 now from scan HERE.

Tags: AKRX, GVHR, HW, MNKD, RTK, SCON, SGEN, SKNY, SKNY.OB, USS

This entry was posted on Tuesday, July 29th, 2008 at 10:13 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.