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.

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VRNM Hope everyone did well on this short out of open:

admin Says:
August 7th, 2008 at 9:58 am

Watch for weakness here at $3.75-$3.80 if it doesn’t break the triple top, shares are an easy borrow today on VRNM

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.

CHINA needs to hold $3 if the momentum continues it may be good for a squeeze towards $3.50

GSPG.OB again another amazing move I wouldn’t be surprised to see this test .06 tomorrow at this rate and then settle back again towards .055-.057s before consolidating for a week or two, this is as I’ve said week after week just an amazing technically sound TA

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.

ABMD $20.07 is breakout (52 week high) its jumped up quite a bit the last few days I’d watch for consolidation around the mid 19s if it doesn’t squeeze over $20 an break it right out of the open. If it does it’all probably be a nice squeeze and just that. I wouldn’t marry it but has upside towards $22 potential and if it can consolidate above $20 it could move much higher than that. What I’m looking at is the triple top mid June, mid July and just today at/near $20, so the break will send shorts covering similar to what we saw on WMT yesterday when it broke the quad top.

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

GERN - looks pretty bullish here, it’s consolidated quite a bit around the $4.50 level which can support a move higher, theres been a lot of $3 to $6-7 plays as of late thats why this one interest me, $5 is its previous resistance point back in May, may squeeze on the break.

VRNM today’s Nasdaq percentage gainer, watching for a gap and continuation then I’m looking for weakness to kick in, I’ll see if there’s a borrow and reserve it just in case. It had a few upgrades so it might have a bit of support in there.. if thats the case let it squeeze, keep a borrow avail and wait for the opportunity, I’ll be monitoring this one and will post a comment with thoughts tomorrow once it begins to pan out

GSPG from scan earlier today HERE, quite a picture perfect chart here, full of a technical traders dream come true regarding support areas, higher highs, higher lows, consolidation patterns, you name it - its there. I’m not looking for a huge 50% move here in the next day or two because that’s just not the way it trades but I do anticipate an accelerated move over a nickel once it snaps.

MICG from scan last night gave us 15% out of the open on the move, watching for further consolidate and re buy on a .60 break

MICG -MICG.OB a blast from the past this had ran from these levels to $5 on its first move - anythings possible worth putting it on radar

Can’t believe this penny stock has held ALL its gains, and that’s why I’m highlighting it. Normally as I mentioned in this post I am not a sub penny player, but ever since they became increasingly liquid over the past month they’ve got me monitoring. GSPG amazingly enough has held higher highs and higher lows for the past 6 months come up from micro penny level which is pretty much unheard of unless you go back to the QBID days four or five summers ago, or USXP of two summers ago.

At any rate -heres the chart:

Watch for dips the next few days where it may be a good flip towards the .05 break. I’m sure a lot of longs are sticking in with a psychological price point in mind of .05 for the big test, once it breaks that I’m sure they’ll all be jumping on a dime. This shareholder base is ridiculously large given the float so anythings possible.

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ABK watch for this to lose $5 and continue selling pressure downward - after all longs have been given 5x their return off the 52 week low, keep that in mind

RDN amongst other financial stocks beginning to show some weakness (obviously FNM and FRE to thank for that)