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

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!

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.

Last nights watch for OSTK move higher towards $20 lookiung good so far, approaching intraday highs now.

“OSTK - see chart HERE - this is ready for another move HIGHER toward $20 IMO”

UNS down .70 today down $2.00’s from its highs
EZCH took a breather today, RGN gave back all gains it made yesterday before recovering …

MMR watching for this thing to squeeze before any short position taken. This looks like it wants $30, but need to watch in case it tops off before that and starts showing weakness