A brief recap of last nights scan before I post tonights.
Overall most of the stocks did exactly as their chart said. You can view all tickers here: BEXP KOG PDO ENT DGLY EXM ICO SCA MMR WMG

EXM - although it didn’t fall immediately, this is a great example of the “gap and crap” I mentioned last night. It had a lot of momentum going into Wednesday’s open gapped up (opened higher then its previous close) and squeezed $2.00’s before it began its sell off. From what was up $4.00 at one point today came to within +.50 on the day. I’d expect the selling pressure to continue for at least another day before it starts to look for support.

MMR - still worth watching like a hawk. $28.00’s held for most of the day before the EOD (end of day) sell off. I’d watch for it to break $28 again since this appears to be extremely strong but if it cant break this can correct to the downside for $1.50-2.00. I’d personally like to see it test a bit higher before shorting.

ICO sold off 8% and is down an additional 8% after hours on a wider quarterly loss reported.

PDO from last night:

“PDO - very thin not worth it to take a big position. I would watch for
the test of $7.00 again before shorting. This is one of those stocks
that could wash out to $5.50 and immediately recover to the $6.50’s
leaving shorts confused and before you know it … its double digits.”

PDO tried to test $7 again today… failed… and started its downtrend. This could wash out (dip heavily knocking out lots of stop losses causes more of a move than anticipated) but watch for it to quickly regain its composure once it hits bottom. This has not traded many shares for a Nasdaq stock and can move in both directions rather quickly. If you did take a position today based on the comments from yesterday.. keep an eye on Tim Sykes, he is trading it and can be helpful to those looking for an in depth analysis on who, what when where and how.

It’s good to keep an eye on the charts from previous post because although they may not play out as anticipated the day of … within a few days most of these have had a nice downside move. GNVC has sold off to where the first anticipated support level is, watching for consolidation this may turn the jets back on and head towards higher highs, but first it has to confirm its at bottom.

Last Nights Scan of potential shorts all in play! ENI breaking towards $20, CLR CF BG BTU all dropped heavily, and HA and HL I’m watching for more highs and a brief squeeze before shorting.

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As expected GNVC hit under the $2.00 mark and tested it’s previous support near $1.80

NOG is beginning top off at these levels, MEA broke towards $14, watching for this spike for a $.50-$1.00 downside correction

Lots of good things happening around the markets today. Very bullish day all around not to mention IBM!! IBM’s Q1 earnings jump 26 pct, company increases outlook - this should lift the markets into a spectacular day tomorrow!
Wall Street Journal: IBM Bucks Slowdown, But We’re Not Out of the Woods Yet
Seeking Alpha: Is It Really a Tech Tell?
Seeking Alpha: Big Blue Delivers Big Profits

AAPL $160 breakout

BIDU shorts have been and continue to be toast

IBM great numbers out after the close and unlike CROX they actually increased their outlook

MA - we’ll see if it can bring V with it, again I’m not buying V until it breaks $70, then its a sure break towards $100 since its a physiological target

ICE on the verge of breakout, another great set up here, this can easily squeeze towards $165

Trade Ideas for tomorrow?

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

GNVC - This one finally peaked as expected - didn’t quite make it to $2.50 but surely lost it from there, should test $2.00 before testing $2.50 again - in fact it should test around the $1.80 mark.

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IOMI topped off today, should test $2.00 - a good bounce spot around $1.80

GNVC about topped maybe one last squeeze to $2.50 before it retest $2.00
 

FEED on the verge of a breakout here! Watch for a squeeze towards $18 - then put your shorts on.