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MHGC the stand out from scan! Did exceptionally well and nailed it on the break out. $15 needed to break and hold, the next test intraday was $15.50 where I expected an immediately squeeze towards $15.75 area. Well we got a lot more than that hitting $16.38! Although extremely strong into close and probably gap on Monday nothing is better than going into the weekend all cash, so that’s exactly what I did. You can see all comments HERE during the trading day regarding the buy/squeeze points and breakout.

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.

I missed the short here! I was preoccupied watching MHGC saw NOBL attempt to test $6 off the gap and should have taken my own advice it on a gap of .30-.40. Woops! It bottomed out for a bit, figured the risk/reward wasn’t there incase it reversed directions and headed higher but was wrong, missed opportunity, isn’t the first and won’t be the last! Hope you all did well though. I know Tim nailed it on the long side and took profits with plenty of time to spare. Key areas are around the $4.90 leve, you’ve seen how fast this can move, personally I’d like to see it squeeze higher for a second shorting opportunity but we’ll see what Monday brings.

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.

Recap: (VRNM) 50 Cent Pop Out of Open, Weakness at $3.75-$3.80 August 7th, 2008

After posting thoughts/trades in real time I recapped the post HERE.

As far as further trades, the big move is done, I wouldn’t be surprised to see it attempt a bounce off the $2.50 level back towards $3 but I anticipate a slow fade over the next few weeks after whats left of the momentum dies out

SGEN worthy breakout, this is in play next week in my opinion I’d like to see a squeeze towrads $13.50, but we’ll see what Monday brings us.

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

Recap: Airline Stocks HOT Again For Wednesday the 6th and MICG.OB

August 5th, 2008

HRP nice gradual continuation based at $7 from scan, and broke through $7.50 area, this will more than likely be the new low if the move continues north

HRP looks pretty bullish here if it breaks and holds the $7.50 level look for continuation, more of a longer term play than anything

PRTY just about testing $20, this again is very gradual move so I’d be careful with the short - looks like $20 will be tested early next week which will be a double off the lows.. Although it may be a nice short over a few weeks again I’m only a trader and based on the consolidation around $18 the past four days and breaking off to head higher, this may just be basing for an even higher move, normally I like to short into a spike so I’m radaring for just that.. and until I see it I probably won’t short it. I do think this will be a gradual fad back down towards $16s and probably a worthy short but that’s like rolling the dice, and I’d rather not.

PTRY great squeezer nearly 100% gains in the past 2 weeks looking for it to test $20 before I think about the short (unless weakness keeps in before)

Recap:Hot Stock Scan for Tuesday August 5th August 4th, 2008

MOT filled the gap to $9’s. Off radar now unless it begins to squeeze, it might be a worthy short if it fails to break $10, Provided a nice short on the failure to squeeze over $10.

MOT lots of gaps the past few days sitting at some resistance dating back a few months, would like to see this squeeze out of open and provide a shorting opportunity to fill the gap back down towards $9 - unless their new CEO has all the answers and they are going to become a huge contender again I’ll take my chances

OFI pigs get slaughtered! after a breakout happens I usually tend to abide by the rules of selling into the squeeze, if you do it takes away the risk of holding, the risk/reward isn’t in your favor if you don’t take the initial breakout move. In this case there was a 52 week high break around $8 dollars and change and it squeezed $2 in 3 days.

OFI Three days now its been testing $10, if it can break it it will squeeze towards $10.50, risk/reward not worth it anymore in my opinion, the breakout provided $2 of upside already…

From scan HERE.

OFI absolute beautiful breaout chart, this should test $10, if today’s gains hold I’d be looking for a long position for that move up - this could be an extreme squeezer of the momentum continues

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Great trade today on MBI!

PGTI - putting this on radar I don’t think its ready right away tomorrow but worth watching as it climbs towards $6. It’s climbed over $1.50 in the past 2 days and can squeeze over $6 extremely easily, watching for a large spike to start a short on

MOT lots of gaps the past few days sitting at some resistance dating back a few months, would like to see this squeeze out of open and provide a shorting opportunity to fill the gap back down towards $9 - unless their new CEO has all the answers and they are going to become a huge contender again I’ll take my chances

FBTX - I’m never a fan of Nasdaq stocks coming up from the sub .50 cent range we’ve had some pretty good success shorting them, watching for this one to gap from some of the carry over momentum and watching for weakness to short on

TGIC large percenter gainer today, in fact it was the leader, if this can’t break $2.50 again its a short, if it can watch for a .50-.75 cent spike to short on, confirmation of weakness as it slips back under $2.50

HW - this consolidated around $13 so may be able to support a move towards $15+ but monitoring heavily for a short once the momentum stops

EMIS great breakout from back near $3 where it consolidated and boom! new highs. From scan HERE.

EMIS beautiful breakout move here, I’d watch for consolidation around $3 as it attempts to break through the $3.50 mark.

OFI Three days now its been testing $10, if it can break it it will squeeze towards $10.50, risk/reward not worth it anymore in my opinion, the breakout provided $2 of upside already…

From scan HERE.

OFI absolute beautiful breaout chart, this should test $10, if today’s gains hold I’d be looking for a long position for that move up - this could be an extreme squeezer of the momentum continues

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EMIS beautiful breakout move here, I’d watch for consolidation around $3 as it attempts to break through the $3.50 mark.

HDY managed to hold higher highs, that’s a good sign that they may actually have something cooking, last run stemmed from a bunch of press releases, looking for the same thing here, if it can break $2.00 which I’d bet on it happening out of the open today, watch for slow continuation - this will only interest me around $2.40-$2.50 as it test previous highs. The small short that one could probably make shorting around $2 and covering around $1.80 is a bit too much risk, after all we want the odds in our favor.

USS I’d like to see a second test on $5 as it very well may break it,  if it does I’m watching for a .50 to $1.00 spike to short into, if it doesn’t break $5 and shows weakness i will probably join the sellers and cover only if it test/breaks $5 again

OFI absolute beautiful breaout chart, this should test $10, if today’s gains hold I’d be looking for a long position for that move up - this could be an extreme squeezer of the momentum continues

SKNY up over 16% today! this may test .40+ where I’d think about taking some profits!

SKNY back under another promotion it looks like, this may be good if it holds $.30

SQNM although boring its still on my radar because a $22 break I’m a buyer, I can’t believe it’s held all of these gains without any major dips, this has been on scans for quite some time, see more HERE.

Huge plays today from our scan last night, two of our favorite shorts acted exactly as anticipated, (ZYXI) down nearly 15% with plenty of shares to borrow, (VISN) lost $2.50 from its highs (near $24). We posted mid day today about it HERE and our scan from last night is HERE.