So… I was off by a PENNY on my low end cover range for where I expected MKTY to fall to in last nights scan listed below, or HERE. I’ll work on more accurate cover ranges for the future, I hope to narrow it down to within a fraction of a penny!

MKTY watching for a gap and crap, this is probably a pretty decent short tomorrow, but lets see how it trades out of open. Tim had a decent trade on it (from his alerts) but later in the day, it turned up towards high and closed relatively strong. This gives us another day for a possible squeeze and a higher short average. I’d let it squeeze out of open, failure to break $6 and confirmation of a breakdown I’d jump on board on the short side - back towards $3.75-4

Last nights stocks are still in play for tomorrow - commentary stands.

AKRX - earnings are coming so this is a play into that, could move hard in either direction but looks pretty bullish .. Without doing too much due diligence since I never really do… it looks like earnings are the last day of July - so I’d expected this to be volatilie until then, it may squeeze towards $5 and present a good shorting opportunity to those who panic before they are released.

EPAX - another earnings play, my take is its just a low float squeezer, watch for a gap and tank… i doubt it heads much higher than $20

SGEN looks bullish towards $12 at which point I’d watch for weakness

EZCH took out the $18 resistance this has the possiblity of heading towards $20

EZCH - On scan before - hasn’t been able to break $18 for the past 4 attempts, I will be monitoring this stock to see if it tops there, notice how fast its covered $14 to $17.50+ vs. the previous attempts where it slowly made its way there. This is what happens when a few too many shorts think its heading the opposite way and then get caught… and with that they can help it break previous resistance..

Keep on radar the Airline Stocks we posted HERE. Many squeeze back mid day into the close leaving another day of opportunity for tomorrow similar to MKTY, watch for the morning gap and squeeze and sell off into close.

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CV continuing off that $20 break - went straight to $22 this may support a larger move than I originally anticipated, on the $22 break can cause a squeeze .50-1.00+
From scan HERE.

CV  Central Vermont Public Service Corporation - I’ll buy $20 break for a squeeze towards $22+

SOAP still sneaking up towards $5 after a few attempts have been unsuccessful, if it does break it should squeeze towards $6+
From scan HERE.

SOAP  Soapstone Networks Inc $4.50 break is what I’m watching for, it could spike if it breaks and holds. If $5 can break after consolidation this could turn into a multi day move.

CHCI - never like these penny stock Nasdaq stocks, almost good second or third day shorts… the hardest part is determining if it is just that… a short on the second or the third day. Watch for it to gap and test .50 and watch for weakness back towards the low to mid .30s

CRNT great bottom reversal stock, broke past $8 today with power - watch for the gap and squeeze out of open and keep an eye for weakness back towards mid 8’s.

EZCH - On scan before - hasn’t been able to break $18 for the past 4 attempts, I will be monitoring this stock to see if it tops there, notice how fast its covered $14 to $17.50+ vs. the previous attempts where it slowly made its way there. This is what happens when a few too many shorts think its heading the opposite way and then get caught… and with that they can help it break previous resistance..

MWY can’t believe I’m giving Lebed credit but he nailed this one on his newsletters… (don’t think we forgot about BSGC which was also going to the moon), very nice break out from the bottom and its turned into a ’story stock’ for the time being if it gaps over $4 and runs it may be a good short back towards $3.50 to watch for more accumulation if it continues

Last nights watch for OSTK move higher towards $20 lookiung good so far, approaching intraday highs now.

“OSTK - see chart HERE - this is ready for another move HIGHER toward $20 IMO”

UNS down .70 today down $2.00’s from its highs
EZCH took a breather today, RGN gave back all gains it made yesterday before recovering …

MMR watching for this thing to squeeze before any short position taken. This looks like it wants $30, but need to watch in case it tops off before that and starts showing weakness

BIDU reported after the bell today, Q1 profit surged on ads, you can read the report HERE. It’s trading up just over 2% higher after hours. Option players: too bad for you (sidelines was the better play!) Maybe tomorrow brings the $25 to 50 dollar swing you were hoping for in sympathy of GOOG’s move after earning.. sure it’d be nice, but HIGHLY DOUBTFUL.

Although its not a $90 dollar surge on earnings it’s still extremely significant that it’s still trading at $150 dollars higher than it was one month ago. That means the market has accepted (for now) the powerful surge we saw in the last month and in fact gave it even more of a premium to that move today after hours. Just look at the chart, up $160 dollars within the past month, up $60 within the past week, NOT BAD! This says a lot about where the market may be headed now that some of the biggest companies have released their numbers versus the fear wall street had less than a month ago. This may be even more meaningful than GOOG since GOOG didn’t have any earnings priced in, people were wearing about what they’d produce for results. All and all, I think its a good thing, the real test is tomorrow - we’ll see, after all I’m not buying these things to hold, they are just trades.. and with that all I want them to be is VOLATILE. MSFT down AH’s on earnings.. eh.. Not too worried its BIDU, AAPL and GOOG that will pull the market up down or as we’ve seen the past two days… keep it at tight consolidation phase.

Anyhow, next is MA and V. Visa which as we saw how $70 was THE KEY BREAK and moving straight up following MA.

Now .. For Friday:

Scan: UNS MMR EZCH RGN UTEK

Yes a revisit to three stocks - but they are all still in play USN MMR and EZCH

UNS - without going into detail again, the way it should be played can be found HERE. To add, it may gap over $32 tomorrow to try to scare off some short sellers into covering, tease some longs into buying and yes… ‘gap and crap’ is the play I’m looking for out of open - but play with caution it can squeeze at any moment - read THIS first.

MMR - attempting to test that $30, if this starts to fall again it may not come back so easily this is up 100% in a month. One last hoo-rah of a push by the longs before the shorts take over and give a $2-3+ correction. A good play if it squeezes out of open is to use today’s strategy on USN watch for it to triple top before you jump in, take a partial position if you feel you’ve nailed the top and add once it has confirmed. The way it came back today shows that it is strong … so I’m not jumping all over this to short it, I’d like to see a squeeze first.

EZCH - from last nights scan - this is why it’s important to watch for key breaks and see how it reacts. Most importantly - Let IT put the top in, don’t throw a dart thinking you’ve nailed a bulls eye. I am using the same strategy I spelled out last night to play this one. It broke the $15 barrier now I’d like to see it test the next dollar mark at $16. If it does I will watch for a large spike to short on, if it doesn’t I will short when it breaks back under $15

Two new ones

RGN - this has been quite a move off the lows up over 120%. Watching for this to test $2.00’s. This really isn’t that much $ volume so it could go either way as you saw with PDO. Watch for spikes more on this as it plays out…

UTEK - if this can’t break $14.50 tomorrow radar it heavily, if it does.. use a EZCH style apprach

PGNX would be on my scan, but I looked at it after hours… it’s up 20% on news…Progenics and Wyeth Announce FDA Has Approved RELISTOR No thanks!

Many times I scan back through my previous scans - its easy.. and all of the charts are there and update daily … Today scanning back things that didn’t pop up on my regular scan which show decent plays setting up are:

FCSX - see chart HERE watching for $40.80 to drop can be a good play back to $38
OSTK - see chart HERE - this is ready for another move HIGHER toward $20 IMO.

GRMN may squeeze towards $50

“GRMN has it sank enough yet? $43, if the market is strong tomorrow this
could move towards $45, I’d expect a small bounce before it hits more
lows. In fact I believe $42s will be the lowest this goes for the next
month”

Not TOO many on scanner tonight, but that’s ok tomorrow is Friday. Remember, don’t force a trade, if there isn’t volume don’t bother. You want something that trades so that you can always get in and out at the click of a bottom without getting ripped off. At times, if it lacks volatility and/or volume there may be a spread between the bid and ask, if you decide you want to cover there could be a .25 to .50 cent spread.

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