Tomorrow will be a potentially slow day due to the holiday weekend. At the same time, their may be less sellers sticking around for the long weekend and instead some nice squeezes. It’s always an interest day in the past years I’ve been trading…

Well there sure were a lot of breakouts today, that’s for sure. I won’t list the charts of all, we know what they were: ABK, FED, MBI, FNM, FRE (was lagging) LEH, GS - more weight the first four in the range that I enjoy playing. All of which I’m looking for a further gap and squeeze and possible sell off, but nothing more than a trade. These are complete short squeezes and taking a gradual week long bullish move and apply the gas this afternoon into the close. I’ve focused on a few of the less popular stocks that are in play that won’t be backed by WSJ, CNBC and others.

STXX originally a Lebed pump, a huge sell off, a large bounce, and huge shorting opportunity and here we are again another spike and potential shorting opportunity. Extremely low volume, spreads aren’t TOO bad which is hard to come by with stocks that trade this low volume. Watch for the test/break/failure of $4, need a $.50-.75 spike to get my interested for a starter short position after that I’ll add on weakness - $3.62 currently in the past it tends to gap heavily the next morning nad sell off through the day

ZINC should test over $8, very bearish over all though, if it can’t continue to squeeze over $8 I’ll join the bears, its at previous resistance now, if it breaks look for mid 8’s to 9 to top out, I doubt much higher

TAYD watching for a gap test of $8 and weakness. It’s possible if it breaks last highs that it continues and it bases in the mid $7 range to support a move much higher. Superman HERE enjoys/has played/will play/is playing this stock and I’d watch for his thoughts on it if historical moves mean anything to you.

PBNY I’ll buy the $14 break with a stop just under it, pur ebreakout chart here ready to test $15

IDMI gradual climber, lots of volume today and close HOD, this is bullish hoping for an accelerated move towards $4

UFI similar feeling as IDMI, $4.50 appears to be a magnet after that I’ll begin monitoring for any acceleration in the move as we saw today on RHD

Few other short potentials can be found HERE.

Last nights scan HERE turned out nicely on the short potentials IPII and FIGI as well as the STSI breakout, watch for a squeeze if it test $3 again tomorrow.

ABK to my surprise actually did test $6! But failed to break it (besides the few that got squeezed thinking it was going higher) $6 proved to be top and presented a near .40 cent drop into close. I will have a recap of this weeks events more than likely tomorrow and a scan Sunday night for Monday trading ideas, so do check back!

ABK with the recent momentum may test $6 but I doubt it breaks it, it’s up a lot after hours, watch for the test if it fails it should head back down from there, if it opens near where it after hours ($5.20) watch for it to lose $5 to short

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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.

I missed the short here! I was preoccupied watching MHGC saw NOBL attempt to test $6 off the gap and should have taken my own advice it on a gap of .30-.40. Woops! It bottomed out for a bit, figured the risk/reward wasn’t there incase it reversed directions and headed higher but was wrong, missed opportunity, isn’t the first and won’t be the last! Hope you all did well though. I know Tim nailed it on the long side and took profits with plenty of time to spare. Key areas are around the $4.90 leve, you’ve seen how fast this can move, personally I’d like to see it squeeze higher for a second shorting opportunity but we’ll see what Monday brings.

NOBL crazy squeeze out of open today you know shorts were caught with their pants down and again a nice move into close. After bottoming out a few times just under $5 and breaking back over $5 and squeezing into close we’ll probably see a gap and potential continuation tomorrow. Max upside here in the next few days I’d say is around $7 (looking back to mid may), I’m looking for it to test $6 either on the gap or out of open and then watching for weakness to kick in. If it gaps up more than .30-.40 its imparative to watch it because of the gap/squeeze and tank potential that we saw today VRNM mentioned above.

Recap: (VRNM) 50 Cent Pop Out of Open, Weakness at $3.75-$3.80 August 7th, 2008

After posting thoughts/trades in real time I recapped the post HERE.

As far as further trades, the big move is done, I wouldn’t be surprised to see it attempt a bounce off the $2.50 level back towards $3 but I anticipate a slow fade over the next few weeks after whats left of the momentum dies out

SGEN worthy breakout, this is in play next week in my opinion I’d like to see a squeeze towrads $13.50, but we’ll see what Monday brings us.

SGEN border line breakout here over $12 - From scan HERE

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

Recap: Airline Stocks HOT Again For Wednesday the 6th and MICG.OB

August 5th, 2008

HRP nice gradual continuation based at $7 from scan, and broke through $7.50 area, this will more than likely be the new low if the move continues north

HRP looks pretty bullish here if it breaks and holds the $7.50 level look for continuation, more of a longer term play than anything

PRTY just about testing $20, this again is very gradual move so I’d be careful with the short - looks like $20 will be tested early next week which will be a double off the lows.. Although it may be a nice short over a few weeks again I’m only a trader and based on the consolidation around $18 the past four days and breaking off to head higher, this may just be basing for an even higher move, normally I like to short into a spike so I’m radaring for just that.. and until I see it I probably won’t short it. I do think this will be a gradual fad back down towards $16s and probably a worthy short but that’s like rolling the dice, and I’d rather not.

PTRY great squeezer nearly 100% gains in the past 2 weeks looking for it to test $20 before I think about the short (unless weakness keeps in before)

Recap:Hot Stock Scan for Tuesday August 5th August 4th, 2008

MOT filled the gap to $9’s. Off radar now unless it begins to squeeze, it might be a worthy short if it fails to break $10, Provided a nice short on the failure to squeeze over $10.

MOT lots of gaps the past few days sitting at some resistance dating back a few months, would like to see this squeeze out of open and provide a shorting opportunity to fill the gap back down towards $9 - unless their new CEO has all the answers and they are going to become a huge contender again I’ll take my chances

OFI pigs get slaughtered! after a breakout happens I usually tend to abide by the rules of selling into the squeeze, if you do it takes away the risk of holding, the risk/reward isn’t in your favor if you don’t take the initial breakout move. In this case there was a 52 week high break around $8 dollars and change and it squeezed $2 in 3 days.

OFI Three days now its been testing $10, if it can break it it will squeeze towards $10.50, risk/reward not worth it anymore in my opinion, the breakout provided $2 of upside already…

From scan HERE.

OFI absolute beautiful breaout chart, this should test $10, if today’s gains hold I’d be looking for a long position for that move up - this could be an extreme squeezer of the momentum continues

Don’t forget to tune into LiveStock today at 1PM EST! You can view his post HERE.