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Recap from yesterdays scan here.

Airline stocks showing signs of resistance today

Three border line breakouts in order of how I like them

FCFS snaps the double top at $20, I’m a buyer and worth holding as long as it can maintain $20 +/- .10 support.

IRC a breakout over $15 (more likely $15.05 or so as a trigger price since its hit $15.03 a few times and sat back down) this should be an easy $1.00 upside on the break.

LZB momentum has to hold low $8 range, I’d watch for the dip to buy on and add on an $8.50 break

Short watch

VRAZ another sub-dollar stock watching for the gap and squeeze over $1.00 and will short on weakness.

APII careful with this one but putting it on watch, not ready for a short yet even if it tanks, its too thinly traded, rather I’d like to see a parabolic squeeze since there’s probably some shorts screwed as is stuck in the low volumeness. These are where some of the best squeezes begin.

LNG looks like a one dayer, watch for the gap, squeeze and crap back under $4, if it starts off strong remember watch for a $.50-$.75 spike before trying to guess the top, go in with partial size and add once weakness is confirmed. Looking back mid may if past can predict anything… it may have 2 days of a squeeze in it before it heads back to almost where it started furthermore, based on the intraday chart today this was a late day move, shorts got fried and will more than likely feel more pain out of the open.

Here’s a recap of last nights scan which you can view HERE. I will have a scan shortly for trading ideas for tomorrow, the 12th of August.

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CHC panned out perfectly this morning giving a .50 cent spike right out of the open, weakness kicked in, a second attempt at breaking towards a new high failed right around 11AM as you can see on the daily chart below. It broke down a bit at the end of the day this may still be in play because of the dividend I’d watch for the support to kick in just below $3 ($2.75-$2.80).

From last night’s scan:

CHC 300% off bottom watching for continuation over $3 tomorrow and hoping for a squeeze to short on ($.50 to $.75 spike) if not I’ll watch for weakness to kick in and join it. A brief look at Yahoo does show they have a few things going on, such as a divy of 7.5 cents and instead of losing $150m they made $3.6m. So with all of that it may be a worth while long once it consolidates after a brief correction.

GTCB another one actually spike higher than I thought but even better for those who could get a borrow, I didn’t. Either way you can see the second attempt at 10AM to creating a lower low and weakness kicking in throughout the rest of the day.

From scan last night:

GTCB on radar for the test of $.60. I’d assume it’all test it right out of the open, once weakness kicks in it’all probably sit right back down.. like all of this sub-dollar stocks but its possible to have another full day of momentum towards $.70, it may be a hard borrow as welll being under $1

ISIS up nearly 7% today this is a great break of previous resistance points, look for more continuation out of the open tomorrow and then I’m probably happy with 10% profits in two days

ISIS I’ve attached two charts, $18 is VERY tough resistance its been over it once in the last year (the first chart is 6 months, the second is a year) if it breaks this should be a good play towards $20 plus and a worthy buy on the breakout

You can’t win them all especially selling on Friday with a move like MHGC, but I could sleep well, realize next weeks a new week and come into Monday with no positions, missed another 6% today, I know a lot were playing this on Friday from some of the comments and more so the e-mails I received, so I hope everyone had a good profit opportunity there. I’d expect this to test $18 before slowing.

MHGC the stand out from scan! Did exceptionally well and nailed it on the break out. $15 needed to break and hold, the next test intraday was $15.50 where I expected an immediately squeeze towards $15.75 area. Well we got a lot more than that hitting $16.38! Although extremely strong into close and probably gap on Monday nothing is better than going into the weekend all cash, so that’s exactly what I did. You can see all comments HERE during the trading day regarding the buy/squeeze points and breakout.

MHGC this is probably a good buy on the $15 break - triple top and break will make it squeeze towards $16 probably good for a quick dollar or two.