Scan: GSI UNS TBSI UTEK CRYP EZCH

GSI wants 11 bucks, plain and simple. Looking at the intra-day chart today, it was a slow and steady move up all day. Longs are most definitely in control BUT it was $7 three days ago. My strategy for GSI is similar to what I was watching for on KOG and EXM. It clearly wants to make new highs but I’d rather the top be put in for me and short the weakness (such as this $11 mark). So what does this mean? I’d like to see it test $11 - if it breaks it squeeze mode is still on and could pop another $.50 to $1.00. BUT-lets say it goes to $11.15-11.20 and starts selling off towards $11. I will short on the downward break of $11 with a target cover around $10 and change.

UNS is in complete squeeze mode looking for $32.00. This is another slow and steady intra-day (this is important to note because if the longs continue to stay in control you’ll find yourself adding and adding to your short position with no top in sight.) Strategy here is similar to EXM looking for it to “gap and crap”

TBSI - It’s trying to break $45 but failed today and fell back almost identical to EXM. I’d be looking for another bullish move out of the gate - one last attempt of the bulls to keep this move going, but the move has been fairly large for a $30 dollar stock less than a week ago. This doesn’t mean it won’t go to $50, I’m only in it for a trade when the technicals are a bit overextended. It needs to consolidate near $40 creating a new base before it heads higher. If it does open a bit higher there is a potential for a $3 to $4 dollar short here.

UTEK consolidated around $13 and managed to burst through $14. Up nearly 60% despite the profitable quarter and upgrades it needs to consolidate a bit more before these gains will hold. I’d look for it to retest the low 13’s before moving to $16+.

CRYP one of those stocks where $20 is a magnet, a key break and a key support level. I think this will test the mid 18’s on a breakdown through $20.

EZCH beginning its prowl towards earnings on May 5th. Up 40% in less than a week. If it doesn’t break $14 its a short, if it does break $14 I’ll watch for the squeeze and let it confirm a top. $15 is a lot of resistance. I will post more on this as it plays out.

If you haven’t already:

JOIN US IN CHAT: http://www.investorslive.com/chat/index.php

JOIN OUR NEWSLETTER: http://www.investorslive.com/newsletter.php

From the earlier post today MMR and EXM are still very much in play, MMR may have $2 more in upside (if that) before a $2-3 dollar correction. EXM may gap past $45 in an attempt to save it, and sell off through the day.

A brief recap of last nights scan before I post tonights.
Overall most of the stocks did exactly as their chart said. You can view all tickers here: BEXP KOG PDO ENT DGLY EXM ICO SCA MMR WMG

EXM - although it didn’t fall immediately, this is a great example of the “gap and crap” I mentioned last night. It had a lot of momentum going into Wednesday’s open gapped up (opened higher then its previous close) and squeezed $2.00’s before it began its sell off. From what was up $4.00 at one point today came to within +.50 on the day. I’d expect the selling pressure to continue for at least another day before it starts to look for support.

MMR - still worth watching like a hawk. $28.00’s held for most of the day before the EOD (end of day) sell off. I’d watch for it to break $28 again since this appears to be extremely strong but if it cant break this can correct to the downside for $1.50-2.00. I’d personally like to see it test a bit higher before shorting.

ICO sold off 8% and is down an additional 8% after hours on a wider quarterly loss reported.

PDO from last night:

“PDO - very thin not worth it to take a big position. I would watch for
the test of $7.00 again before shorting. This is one of those stocks
that could wash out to $5.50 and immediately recover to the $6.50’s
leaving shorts confused and before you know it … its double digits.”

PDO tried to test $7 again today… failed… and started its downtrend. This could wash out (dip heavily knocking out lots of stop losses causes more of a move than anticipated) but watch for it to quickly regain its composure once it hits bottom. This has not traded many shares for a Nasdaq stock and can move in both directions rather quickly. If you did take a position today based on the comments from yesterday.. keep an eye on Tim Sykes, he is trading it and can be helpful to those looking for an in depth analysis on who, what when where and how.

It’s good to keep an eye on the charts from previous post because although they may not play out as anticipated the day of … within a few days most of these have had a nice downside move. GNVC has sold off to where the first anticipated support level is, watching for consolidation this may turn the jets back on and head towards higher highs, but first it has to confirm its at bottom.

Scan List: BEXP KOG PDO ENT DGLY EXM ICO SCA MMR WMG

This is a purely technical scan and what I’m looking for on each. There may be earnings expectations being built in and if hit could spike further, or upon a miss could sink, there also may be news releases that come out and disprove any reads on the charts as of tonight 4/21/08! So with that, proceed with caution but here are my thoughts!

Big day in the markets tomorrow with AAPL first and then BIDU Thursday

KOG
Very nice move as of late. Lots of players trying to find the top (which it did top temporarily) but managed to squeeze higher and higher. The top is near in my opinion. Watch for a morning spike, if it loses $3.20 this should test $3.00 support again and end up near the $2.75 mark shortly there after. Worth a watch here could be an easy .50 cent play given a morning squeeze.

PDO - very thin not worth it to take a big position. I would watch for the test of $7.00 again before shorting. This is one of those stocks that could wash out to $5.50 and immediately recover to the $6.50’s leaving shorts confused and before you know it … its double digits.

ENT - A lovely chart, volume is really kicking in now. The volume tells me there is still more to come and may very well take out the last high of 2.65-2.70. On this break it should see $3.00. It’s not ready to be shorted … yet…

BEXP - quite a break out lately watching for the break of $10.00. If it breaks $10 it will probably start consolidating around this level before it heads for $12. If it breaks over $10 proceed with caution, and wait for the trade to come to you. $10 is a key area. There are two plays I am watching for.
1) Any spike to the upside of .50 to .75 I will likely scalp (rather quickly unlikely to hold for any period of time)
2) If it opens above $10 and squeezes higher I will wait for it to show weakness, upon breaking $10 on the downside I will enter looking for mid 8’s.

DGLY - met some resistance today, if this loses $9.00 it may retest low 8’s before heading back towards $10.

EXM - what a breakout $28 to a near $45 in a week. Watching for this to “gap and crap” tomorrow. This may open up $43.50-$44.00 and sprint towards the $45 before closing near $41. Most definitely on radar!

ICO nearly 10 million shares traded hands today. If this trades above $9 tomorrow I will watch for the fade under $9 to begin my short. What does that mean? If its $9.10-9.20 and begins to sell off towards the $9 mark I will short then, rather trying to catch the top. This can very easily see $10 so I’d rather not try to find the top by picking it out of a hat but rather let it form and then just join the fall.

SCA - starting to turn off bottom here, I’m not usually a fan of the sub dollar plays. If this breaks $1.18 it could turn into a supernova of sorts after it breaks $1.50 in which case I’m sure you’ll find Tim PennyStalking it but its time time and as he’s mentioned its just a POS random stock. I agree. BUT its on the radar just in case it squeezes not worth a position yet, although I do think we’ll see .80 before 1.20.

MMR some of these NYSE stocks vs. NASDAQ stocks are unbelievable. They just trend straight up without looking back. It’s heading towards $30 but I don’t think it will make it. This is on watch for any weakness, potential upside I feel is $31.00 potential downside support is around $24.00. Tomorrow may be the last day it closes green before taking a breather to gain additional momentum.

WMG - Heading towards $9.00. Note back in February it had trouble getting past that. This is what I’m looking for, if it fails as you can see it corrects rather quickly to the downside!

RDTA a great short heading right to where it belongs…

As always if you trade, JOIN US IN CHAT, if you’d like to just stay current with trading ideas JOIN OUR NEWSLETTER!

Breakouts:

CMO is on the verge of breakout, this could easily fill the gap to $16.00 on a break of $13.92 (lets call it $14) which is the 200 day moving average. There is a double top around the 13.75 area. The play here is buying on the $14.00 break.

BCF is breaking its all time highs, this is well on its way towards the $20s

ENI - Amazingly bullish stock, this is heading for over $20 and hasn’t shown any weakness to this point.

Short Watch: Near Term

BEXP topping off it may squeeze through $10 but if volume dries and starts to show weakness this will test sub $9

GBRC - this one is topping off, perhaps one more squeeze towards the $4.50 range and that’s about it, this is up way to much.

The following I am looking for spikes to short on, these are all on the verge of breakout but still have another $1 to $2.00 in their squeezes, if they don’t and turn red, perfect time to short - these are not long term shorts they are just short term trades. It’s taking advantage of a price correction after a huge move higher, although they may sustain over the long period and make even more highs they still need to consolidate and filter out some of the longs. Investors/Traders end up satisfied with there enormous gains in such a short period of time and the first sign of weakness they are afraid to give them all back.

HL I’d like to see test $14

HA - this could squeeze almost to $10 before it takes a break

AAV looks very toppy today but given market conditions I’d like to see another squeeze out of it before I’m convinced theres a good short side opportunity

CLR - what a move for the longs, this may test $45 again shortly but needs a break if it’s going to hold any of these gains longer term

CF I wouldn’t be surprised to see $160 before it gives shorts some ease

BG on watch towards $130

BTU $68 I’ll start watching