Not too much on scan tonight, I’ll have to rescan out of open and looking for the percentage gainers either to join the momentum or short the weakness.

If you guys have any on scan feel free to comment and I’ll take a look and provide any comments I can.

Check out: Ticking Time Bomb Or Sound Investments? (LBAS) (MXFD) (FOUR) and More

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FMD active from today great sell off from open on the short and two decent bounces intraday for .30-.50 cents. Nice support in the upper $3’s lets see if it holds $3.60-$3.65 tomorrow for the bounce back through $4 - It’d be nice to see it drop out of open allowing for a good pick up followed by a run up back towards $4

FOUR will more than likely test $2-3+ on a brief squeeze (based on comments earlier on the last blog post, not necessarily squeezing shorts that are shorting at these levels because its highly unlikely people are … but rather forcing those who DO have a short position to close it out in the possibility it bounces larger than anticipated AND those playing the dead cat bounce causes a spike in the stock) This is what I expect to see today/tomorrow after that I’m not really interested it will lose the volume and start to tapper off

VRAZ held all gains from the spike last week, testing $1.50 tomorrow

CSUN hoping for a squeeze through $10 towards $11 or $12 to open up a decent shorting opportunity

GSPG.OB back to consolidation mode, I won’t buy until a .055 break because it could trade back and forth around this range for quite some time (which does show strength if it can hold .05) but needs to prove it wants higher before I jump on again as it can easily lose it and start to sell off.

FMD turned into a huge short out of the open the bottom was put in around $3.60-$3.70 range - there wasn’t a big spike like I was hoping out of the open but surely a lot of weakness this turned out to be a great trade both short than long

admin Says:
August 19th, 2008 at 12:03 pm

FMD probably a good cover at $3.75 may change direction here.. $4+

FMD - largest percentage gainer today, of course its going to make the list, broke past previous highs watching for support to kick in after testing back under $5, might continue to squeeze towards $6, if it comes out extremely strong I’m watching for .50-$1.00 spike to short on but don’t marry it, take the profits when you have them as it can easily squeeze back like NOBL did

FOUR from today pick up at $1.40 proved to be a decent trade, hitting $1.74, those still holding like I mentioned I’d watch for $1.50 to hold, the risk is limited here especially with a .10-.15 cent buffer at these levels, this probably will squeeze back to $2-3 not because of ANYTHING to do with the company but just short/long battle before turning into a sub dollar stock throughout the rest of the year, as long as it holds $1.50 this may squeeze into close

The following are from this scan.

GPIC turned out to do just as expected, squeeze over $6 followed by a nice correction, currently sitting at $5.40

GPIC earnings fueled move, watch for the gap/squeeze/run over $6 followed by a possible fall but keep in mind people may be happy with the results and begin supporting it just south of $5, so if it spikes and provides a nice shorting opp, don’t be greedy and if it warrants a quick 10% move, take it!

APII failed to get back towards $3 but a perfect reversal right back to a low of day ($2.00 currently) this probably consolidates for a bit now and bores people out of the stock - my opinion, take profits and move on

APII I’d like to see a gap, test of $3 and then reversal back down to sub $2, this fade will be much more gradual than the first in my opinion.

MITI and STAA both sold off today, STAA the only one to shout about currently sitting at $5.05, watch for support around $5 on both. I missed both unfortunately - mostly because the volume didn’t interest me early in the day and it was a slow and gradual sell off which probably would have bored me, these can very easily reverse they’ve come down on relatively light volume, MITI holding support a bit better, STAA I’d like to see in the $4.80 range before reversing - FMD had my attention as well as the FOUR bounce

MITI and STAA both very similar charts and similar moves on Friday. Watching for continuation on both and hoping weakness to kick in after a brief squeeze. These are not shorts out of the gate even if they tank, they are risky and the odds aren’t on your side. The moves have been gradual up from $1-2 range so I don’t think that’s really a factor (if compared to APII you can see gradual vs. not so gradual and why the interest in shorting APII was much greater last week than a pattern as such) on the same note if these don’t do any large breakouts giving us a shorting opp, I’d look for consolidation around $5 for the next squeeze higher

STAA (see above)

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FMD - largest percentage gainer today, of course its going to make the list, broke past previous highs watching for support to kick in after testing back under $5, might continue to squeeze towards $6, if it comes out extremely strong I’m watching for .50-$1.00 spike to short on but don’t marry it, take the profits when you have them as it can easily squeeze back like NOBL did

NOBL border line breakout, held $4.90-$5.00 support we were looking for, this is a possible buy on the $6 break, possible upside of $1-2 from here if it squeezes, if you go back to THESE comments alone, no one really believed NOBL would hold it’s gains, so that may be the same boat many are in and are about to get squeezed… we’ll see.

VASC $9 break could carry out a squeeze, towards $10, I’m watching more for the parabolic action to short on, which should happen soon given a $.75-$1.00 spike

RHD I like this for a bottom reversal with a stop at $2, volume returned today if it can hold $2 start position is probably good, followed by an add on the previous top.

IDEV looking good still holding the previous two days gains - from scan HERE

After long consolidation this is starting to head off the bottom, it’s pharma play but starting to reverse “Indevus says bladder treatment gets US patent” can carry it, watch for support at $2, take a look at the 6 month chart and you’ll see why I’m interested, this dropped fast from $6 range on nearly 50 million + volume, so even if 10% of the volume comes back this could result in a nice squeeze towards $3+

TSYS finally after monitoring it for three consecutive days it longs give in and allow it to slip $1 on the downside. As mentioned in the last scan HERE “short back towards $7″ we are here, time to take profits and move on

TSYS volume steady, $8 needs to hold, if it can’t watch for the short back towards $7, if it squeezes out of open and fails $8.25 (today’s highs) I’ll take a starter position on the short side.

TSYS monitoring like crazy tomorrow, still bullish, it had a nice dip today but fully recovered which is a bullish sign and could cause a squeeze. I will post more tomorrow regarding this because I’ll probably trade it on weakness.

TSYS gapped up, held all gains today, would like to see the test nearing $8 once this shows weakness this may be a nice one back towards $6.75 or so

Great breakout today on FMD! It snapped $4 and is currently trading above $4.50! The important area to hold here is $4.50 for a move towards $5.

From last night:

(FMD) A breakout over $4 is imminent! $4 break is a good buy in my opinion.

FMD - First Marblehead Corp has dropped quite a bit in recent months. If it can move above $4 that will break a double top and turn into a multi day move towards $6.00. If it really gains momentum this could fill the gap back towards $8 if you look back towards mid April. Watch for a dip Tuesday and if it gains strength and breaks through $4 definitely put it on watch for a buy.

View last nights scans HERE and HERE.