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FXEN FX Energy Inc - I’m a buyer if this holds $5.75 range or breaks back through $5.85 for the move/squeeze over $6, I like this consolidation around $5 and breakout from it…

GSI General Steel Holdings Inc - $12 break I’m a buyer only for a quick flip because thats big resistance to break should spike .50-$1.00 + on the break (it has run to spike another $1.00-2 max in my opinion (on this move), after that I’ll be looking for reverse sides for downside potential of $1.00 or so, based on its past it seem as though once it reverses direction it gives back nearly all its gains.

GAIA Gaiam Inc beautiful bottom reversal, rather large move on Friday. I want to see this continue but I don’t trust $15 yet, I’d watch for it to dip out of open once it finds support buy on the $15 break. If it holds $15 out of open, go for it and it may put in a good squeeze.

NOA North American Energy Partners Inc. This thing has been on cruise control since $10 and has hardlk looked back. This has consolidated the past week around $20 - $21.43 is breakout (52 week highs) if it holds $20.50 I’m a buyer for the $21 break.

SDTH Shengda Tech Inc $20 proves four times to be tough resistance - (March and May) - if it can break it should squeeze another $1.00 or so, otherwise if it can’t seems to always fall right back down to the $8 level (keep this in mind if it shows weakness)

SNS The Steak n Shake Company - I’m a buyer on the $7 break for potential squeeze towards $8 where there’s heavy resistance

Wednesday’s scan played out EXTREMELY well. The first three stocks on scan, GSI, UNS and TBSI turned out exactly as anticipated.

Starting with GSI, it didn’t break the $11s like I figured it may out of open but it did attempt too, managed to get to $10.87 ….. following that it took an immediate drop of about $1.30. The target cover was around $10 anticipating it may find some type of support there and attempt a bounce (since we are traders and we are only trying to get the quick drop and not marry the stock) but it didn’t even flinch and went straight to $9.50. It did recover over the course of the day but the easy part is over. I wouldn’t be surprised to see this at $9 by next week but I’m only in it for the easier technical trade, its rolling the dice if you stay in, could squeeze back towards $11.

TBSI was a perfect short out of open - it walked down $4.00 right away before coming back $1.00. It’s possible that it continues down but again, its a guess. The more obvious trade was the correction after the squeeze/stop loss profit taking that happened today out of open, not really worth shorting anymore more likely a long if it dips another $2.00s.

UNS - played out EXACTLY as anticipated (wow!). This was a perfect example as to why you should only take a partial position until the stock confirms it’s going in the direction that you want it to. UNS attempted to break $33 multi times, it did, it traded above it but finally topped out and started its downtrend. When this bounces intra day it goes up on hardly any shares at all, when it comes down a lot of shares are exchanging hands. What is this important? Although its chart is completely over extended - there is still a lot of buying interest. Tomorrow if it breaks $32 I would watch for the fall back under it to see if it continues its downward trend. It may be another ‘gap and crap’ style play. This does have a gap to fill around $30 so there is still plenty of downward potential and pressure that may come towards that level. Be cautious if it begins to squeeze again and don’t feel bad about taking a profit.

EZCH a great example as to why we let them find their tops first before guessing about it, this is back on watch for Friday. More on this later.
MMR had a nice dip of $1.00 out of open but battled back immediately and closed green, a sign of longs being in complete control. This will be on watch for Friday as well. More on this later as well.

I hope you’ve found some of this weeks plays profitable. EXM is down near $4.00 from where it opened.. this is a text box “gap and crap” as explained in the last post. MMR is down just over a dollar, it still has a way to go.

TBSI is down over $4.00!!!
GSI down about a dollar! Right past our $10 dollar target to cover

UNS is squeezing over the $32 dollar mark. $33 dollars is key here, it can either break it and spike or it can jumble around just above $33 before losing steam and falling back under. Watch for any .50 cent spike to short on if it does squeeze over $33. The best strategy (the one I will use) is see how it reacts once it breaks $33 on the dip back under it, if it doesn’t break it again, odds are in your favor.. (Similar strategy to KOG join the weakness, don’t throw a dart guessing at the top)

Watch it like a hawk from here on out. If it loses $32.50 profit takers will start to come in by the masses hoping to by it back $3-5 dollars lower.
UNS is currently at $33.03 as I right this post, looks like a top is being put in BUT has not yet been confirmed. It’s always a good strategy to take a partial position whenever enter your trade on plays like these, worst case you are wrong and you only lose a percentage of what you would have if you dived right in! You can always add to your position once it has been confirmed. For example (on UNS), it may want to test $33 dollars a few times before it decides to top off, or…… it may break it and sprint to $34 (in which case you’d look for a .50 cent spike as mentioned above). This can have a $2-3 dollar downside potential over the next two days IMO (in my opinion). As far as downside and when the steam will pick up, if $32.50 breaks its possible to knock out a few stop losses and see a quick move towards $32.25 - if this happens the magnet will intensify at $32 and probably end up there by end of day. Good luck and don’t forget to take profits!

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Scan: GSI UNS TBSI UTEK CRYP EZCH

GSI wants 11 bucks, plain and simple. Looking at the intra-day chart today, it was a slow and steady move up all day. Longs are most definitely in control BUT it was $7 three days ago. My strategy for GSI is similar to what I was watching for on KOG and EXM. It clearly wants to make new highs but I’d rather the top be put in for me and short the weakness (such as this $11 mark). So what does this mean? I’d like to see it test $11 - if it breaks it squeeze mode is still on and could pop another $.50 to $1.00. BUT-lets say it goes to $11.15-11.20 and starts selling off towards $11. I will short on the downward break of $11 with a target cover around $10 and change.

UNS is in complete squeeze mode looking for $32.00. This is another slow and steady intra-day (this is important to note because if the longs continue to stay in control you’ll find yourself adding and adding to your short position with no top in sight.) Strategy here is similar to EXM looking for it to “gap and crap”

TBSI - It’s trying to break $45 but failed today and fell back almost identical to EXM. I’d be looking for another bullish move out of the gate - one last attempt of the bulls to keep this move going, but the move has been fairly large for a $30 dollar stock less than a week ago. This doesn’t mean it won’t go to $50, I’m only in it for a trade when the technicals are a bit overextended. It needs to consolidate near $40 creating a new base before it heads higher. If it does open a bit higher there is a potential for a $3 to $4 dollar short here.

UTEK consolidated around $13 and managed to burst through $14. Up nearly 60% despite the profitable quarter and upgrades it needs to consolidate a bit more before these gains will hold. I’d look for it to retest the low 13’s before moving to $16+.

CRYP one of those stocks where $20 is a magnet, a key break and a key support level. I think this will test the mid 18’s on a breakdown through $20.

EZCH beginning its prowl towards earnings on May 5th. Up 40% in less than a week. If it doesn’t break $14 its a short, if it does break $14 I’ll watch for the squeeze and let it confirm a top. $15 is a lot of resistance. I will post more on this as it plays out.

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From the earlier post today MMR and EXM are still very much in play, MMR may have $2 more in upside (if that) before a $2-3 dollar correction. EXM may gap past $45 in an attempt to save it, and sell off through the day.