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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.

Tags: APII, FCFS, IRC, LNG, LZB, VRAZ

This entry was posted on Monday, August 11th, 2008 at 11:00 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.