A Small Recap of the Past Two Days, and a Scan Coming Later!
Wednesday, July 30th, 2008Please sign up for these nightly alerts of trade ideas for the following day! Sign up HERE to receive these blog’s once a night via e-mail and never miss a potential move again!
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A brief recap of the past two trading days which have provided some extremely successful trades off of scan! MNKD the first which is still in play was setting up to be a perfect breakout. It took out the $3.25 early, held $3.25 support all day and squeezed into close!
These are the previous blog entries the past two days regarding MNKD:
MNKD setting up a beautiful chart here, keep on breakout watch, from scan HERE.
MNKD starting to turn up a bit, this one has fell from grace. This is a buy if it breaks back over $3 and holds it, and I’d add on a $3.25 break. It’s failed to break it the past two attempts ($3.25) but take a look at the 6 month chart below this one… you’ll see the move that it “could” have if it reverses
RTK took out the $2 level, I’d like to see this consolidate around this level so it can support a higher move than just $2.50.
From scan HERE.
RTK - it may be a one day wonder like HDY was today, but if this can consolidate and hold $2 this may be attractive for a squeeze over previous highs
SCON I am monitoring every aspect of this for a squeeze followed by a lot of weakness (if history repeats itself) it’s almost made it to the $2.50 level I’m hoping it squeezes and gives us a shorting opportunity.
SCON - Setting up similar to (USS) from scan HERE, I’d watch for the $2.50 break as this could squeeze towards $3 easily - I’m watching for a spike in volume with little price movement to signal a top
EMIS up another 8% today, watching for a squeeze tomorrow and then I’d think about profits… once it consolidates possibly jump back in but good enough for the quick trade if it test high $3s out of open.
EMIS beautiful breakout move here, I’d watch for consolidation around $3 as it attempts to break through the $3.50 mark.
SKNY good sale today, it was lacking momentum on its move up, didn’t break $.40 and turned out to be a good sell out of open
SKNY had 16% gains yesterday, 6% gains today I’m a seller on the gap tomorrow if it doesn’t carry some momentum into market open. Scan HERE.
HW nice profit opportunity and the cover available under $13 for quite a while, it squeeze up into the after noon which means its still in play hopefully takes out more highs and gives us another shorting opportunity.
HW showing more weakness here, topped out in the mid 13’s ($13.48) almost back to $13, longs may try to hold the $13 support but if it test it there should be a good covering opportunity when stop losses are filled on the loss of $13.
HW - Watch for the $13 break out of open, this is not an immediate short as there is still upside potential. I’d like to see a gap and squeeze towards mid $13s-$13.75, and once it shows weakness probably short it back towards $13s.
