JRJC hit an intra-day low of $17.94 today just after noon eastern time. This completes the pull back I anticipated HERE back to $18. Reasoning can be found below:

The short: HERE
The dip/bottom put in: HERE

The easy part is now over, it corrected as anticipated after a .50 to 1.00 squeeze out of the open yesterday, after failing to break $21 three times, weakness came in and profit was taken. This doesn’t mean its bottom today at $18, as mentioned in last nights post, its consolidation time. Once it consolidates around this level watch for the break back towards $21.

WSCI had a nice correction after not making it past the $18 dollar mark. I’d expect this to consolidate around the $15-15.40 range as mentioned HERE. (I will talk about this in tonights blog)

Visa and Mastercard are not disappointing today. Visa got a boost from MA and has since gained some momentum of it’s own. Master card is almost at its $275 mark. Visa has gained momentum and is starting to take on a move of its on… it may test the $80 mark today.

JRJC on scan last night for the potential squeeze, opened at $19.95 and squeezed to $21.18. Most of the time the first thing I look for on a move is a .50 to 1.00 move and then signs of it topping off. As you can see intra-day it rose over the $21 mark after its third failed attempt to re-break $21 it began to sell off. No I don’t think this is a short overall I’d watch here for a dip tomorrow, should bottom and head back towards the $21+ level if it consolidates around $19.75-$20.00.

This can turn into a big move if it can break the resistance levels from back in March (which is about where it topped out today)

List: JRJC OMNI MMR RJF WSCI

Not to many on scan tonight - the one I like best is JRJC. The key break here is $20. If it can’t break and heads down in the morning its a short back to the $18 range. Each day the morning is powerful about 30 minutes after open (the past 2 days) it squeezes to its high of the sale before selling off and leveling out through the day. The previous high is $22 area, so upon a $20 break this could turn into a rather bullish move. Here’s how to play: Watch it for the squeeze 30 minutes into open, see how it reacts, if its sub $20 and unable to break it… may begin its sell off.
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On another note, after it consolidates, a $20-22 break this can turn into a nice play, heres a 1 year chart to see what it’s done in the past

OMNI has been quite the runner in the past and you have to be careful for that. But $5.25 is the breakout here. If it cant break it, this will test sub $5 again.

MMR - has made scan quite a bit lately and definitely worth the watch. My previous thoughts on how to play this still stand. It’s got $30 written all over it but that doesn’t mean it will make it there. If it does… we watch for the squeeze over it to short on .. if it doesn’t theres a good $2-3 dollar downside. But Thursdays dip and recovery shows the strength in this stock, so I’d love to see a squeeze but still going to jump on the short the first second I see it.

RJF - its a short if it can’t break $29. If it does watch for the spike towards $30 before thinking about it. This should retest $27.50.

Bounce or short time? AWBC
I like this one for both sides (long and short), I played both sides on Friday using a 1 minute chart to find support levels or resistance levels. Each .40 to .50 cent move was followed by a .20 cent correction. The stock may want to retest $4 before it decides on bouncing - if it looks like it may head that direction… theres a lot of downside, keep in mind Fridays low was $3.22. Come to chat on this one, many people will be playing it.

WSCI - $18 is key, if it can’t break to any new highs out of the open Monday this should have a $1 to $1.50 downside towards $16. I’d like to see it squeeze closer to $18.50 or $19 to really capture a nice downside.