VIT - breakout out, watching for a gap and run to potentially short on, on a slight correction but this could be a major move beginning

IAR from scan today broke through the days highs at $4.60. It appeared very strong into close. This should be in play and test $5 tomorrow. This is the biggest volume days in months, and first reversal in about 6 months, so this way have some legs…

WSCI if you played it, great job on the bounce. The easy parts over… on the $13 break it moved to $14.15 and ended +1.13 on the day. This may gap and consolidate tomorrow but IMO, the easy parts over. On a $14.15 break this may test $14.50-$15, otherwise it will probably consolidate around $13.50 and not be worth the trade.

JRJC up $2.00 today, that’s why its so important to watch for the consolidation at higher levels and breakouts above previous resistance. This stock should test $25 IMO.

WMG on the verge of breakout
BONT stuck under $10, break = squeeze, fails to break = short
HA down a buck today unable to break towards new highs
All charts viewable HERE

AAPL on the verge of a +5.00 day or a correction back to $178-180

MA made it to $300!
MMR finally made it to $30

JRJC was able to break the last resistance and looks rather strong. I don’t think much will be in play on the short side due to probable consolidation at these higher levels.

WSCI it sold off a bit more Friday before recovering, this should test $14+ Monday perhaps recovering towards mid 14’s low 15’s by Wednesday.

UTEK still relatively strong, it didn’t test $14 the play here is the $15 break. It’s becoming less appealing on the short side… $15 break could send it spiking $1-1.50.

CNC did correct about .50 cents Friday, it needs to lose $18 again and could play down to $16.50-$17. It has to break through $18 though, or else its not even worth your radar screen.

MESA played out really well, the squeeze over $1.00 and it sat right back down after that move Friday morning. This may open a bit higher and try to consolidate around $1.00 but I’m sure we head back there sooner then later.

Scan coming soon for Monday!

JRJC - This is why its important to be a trader and not make stupid bets! After a brief correction towards $18 back on track and broke WAY past the $21 I anticipated for the bounce. This is definitely in squeeze mode and may play towards $25! This is why pullbacks are healthy because it locks in new longs and those who don’t just play the healthy corrections and cover get squeezed. $22 is a BIG break, that will push it past prior highs, it should gap over this resistance.
Some other blogs HERE HERE and HERE.

WSCI - I’m watching for bounce here at $13.63. This had a low of $13.02. This is definitely one to radar. If it sells off out of open, watch it like a hawk. This can do what FEED did today, sell off .50-1.00 more knock out any other stop losses (force people to panic sell) before recovering towards the upside. Also similar to what we saw above in JRJC, and squeeze right up past prior resistance.

Many of Wednesday breakout stocks are still on scan: VIEW HERE

If UTEK can’t hold $14 this will be good for $1-1.50 downside IMO. It squeezed at the close today watch for a gap and crap. If it can’t break $14.50 radar it for the short back to $13.

CNC - it’s attempted to break $19 twice, both unsuccessful, watch for the third attempt, if it doesn’t again, third times the charm see you at $16-17. IT HAS however corrected and recovered quickly from Tuesdays dip to the mid $17s (this is a sign of strength -bulls are still in control) so I’d like to see the bulls win, have this surpass $20 and then think about the short!

MESA - watch for this one to break over $1.00 it may squeeze from there but the more it squeezes the better because this will more than likely end up back in sub dollar range once it passes. Even with the recent settlement.

As I had mentioned before it’s not always the next day that the scan plays out. Most of the charts I post are up over 30-40% in just the past 10 days alone. Note how they’ve squeezed, topped off and corrected.

The two previous scans with the most charts can be found HERE and HERE.

MMR - Three failed attempts to break higher than $29 and change (-$2.00 correction)
EXM - Four failed attempts to break $45 dollars (-$5.00 correction)
JRJC - After the squeeze to short on detailed in this point (-$3.00 correction)
BEXP - Double top at $10 - unable to break ($-1.00 correct)
HL - After a failed second attempt to break $13 ($-3.00 correction)
CLR - After a squeeze Monday $1.00 after the mornings dip ($-5.00 correction)
CF - Unsuccessfully breaking $160 after a multi month squeeze (-$29.00 correction)
BTU - After the quick squeeze above $70 - the breakpoint and failure it’s base ($-10.00 correction)

This is not a “I told you so” style posting. AT ALL. This is to show that yes it does work, we wait for the pattern to play out, you need to focus on break points (previous highs, psychological, 52 week highs, double/triple tops etc.) and watch for weakness. Additionally it’s worth watching for spikes. I tend to watch for a spike of .50-1.00+ to short on, normally if these types of squeezes happen (or even a multi dollar squeeze) this signifies a “blow off” to the squeeze which you need to take advantage of. Many would argue that shorting is the riskiest thing to do since you can lose everything… but I’m not suggesting going short for a long period of time, you are simply taking advantage of an over extension.

As I mentioned in last nights blog, it might be time to buy after some of these consolidate, after all in most cases its healthy to have a pull back. Get the traders out, those happy with their short term 30-50% gains (as I said most scans are up 30-50% in 10 days), shake out the weak and bring in a new batch of longs taking a position for the longer term.

I will have a scan for tomorrow (Wednesday) shortly!