FMD turned into a huge short out of the open the bottom was put in around $3.60-$3.70 range - there wasn’t a big spike like I was hoping out of the open but surely a lot of weakness this turned out to be a great trade both short than long

admin Says:
August 19th, 2008 at 12:03 pm

FMD probably a good cover at $3.75 may change direction here.. $4+

FMD - largest percentage gainer today, of course its going to make the list, broke past previous highs watching for support to kick in after testing back under $5, might continue to squeeze towards $6, if it comes out extremely strong I’m watching for .50-$1.00 spike to short on but don’t marry it, take the profits when you have them as it can easily squeeze back like NOBL did

FOUR from today pick up at $1.40 proved to be a decent trade, hitting $1.74, those still holding like I mentioned I’d watch for $1.50 to hold, the risk is limited here especially with a .10-.15 cent buffer at these levels, this probably will squeeze back to $2-3 not because of ANYTHING to do with the company but just short/long battle before turning into a sub dollar stock throughout the rest of the year, as long as it holds $1.50 this may squeeze into close

The following are from this scan.

GPIC turned out to do just as expected, squeeze over $6 followed by a nice correction, currently sitting at $5.40

GPIC earnings fueled move, watch for the gap/squeeze/run over $6 followed by a possible fall but keep in mind people may be happy with the results and begin supporting it just south of $5, so if it spikes and provides a nice shorting opp, don’t be greedy and if it warrants a quick 10% move, take it!

APII failed to get back towards $3 but a perfect reversal right back to a low of day ($2.00 currently) this probably consolidates for a bit now and bores people out of the stock - my opinion, take profits and move on

APII I’d like to see a gap, test of $3 and then reversal back down to sub $2, this fade will be much more gradual than the first in my opinion.

MITI and STAA both sold off today, STAA the only one to shout about currently sitting at $5.05, watch for support around $5 on both. I missed both unfortunately - mostly because the volume didn’t interest me early in the day and it was a slow and gradual sell off which probably would have bored me, these can very easily reverse they’ve come down on relatively light volume, MITI holding support a bit better, STAA I’d like to see in the $4.80 range before reversing - FMD had my attention as well as the FOUR bounce

MITI and STAA both very similar charts and similar moves on Friday. Watching for continuation on both and hoping weakness to kick in after a brief squeeze. These are not shorts out of the gate even if they tank, they are risky and the odds aren’t on your side. The moves have been gradual up from $1-2 range so I don’t think that’s really a factor (if compared to APII you can see gradual vs. not so gradual and why the interest in shorting APII was much greater last week than a pattern as such) on the same note if these don’t do any large breakouts giving us a shorting opp, I’d look for consolidation around $5 for the next squeeze higher

STAA (see above)

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GPIC earnings fueled move, watch for the gap/squeeze/run over $6 followed by a possible fall but keep in mind people may be happy with the results and begin supporting it just south of $5, so if it spikes and provides a nice shorting opp, don’t be greedy and if it warrants a quick  10% move, take it!

APII I’d like to see a gap, test of $3 and then reversal back down to sub $2, this fade will be much more gradual than the first in my opinion.

ID breakout over $16 previous 3-4 attempts in May failed, this has potential upside of $2 on the break

CHB needs to rebreak/hold $5 to gain my interest, another reversal play potential upside back towards $8 in my opinion, if it does reverse/spike/squeeze the better safe sell is around high 6’s to $7 unless you want to marry it for long term, however I know nothing about the company except that I’m interested in the technical aspects of the volume/chart for a quick trade

MITI and STAA both very similar charts and similar moves on Friday. Watching for continuation on both and hoping weakness to kick in after a brief squeeze. These are not shorts out of the gate even if they tank, they are risky and the odds aren’t on your side. The moves have been gradual up from $1-2 range so I don’t think that’s really a factor (if compared to APII you can see gradual vs. not so gradual and why the interest in shorting APII was much greater last week than a pattern as such) on the same note if these don’t do any large breakouts giving us a shorting opp, I’d look for consolidation around $5 for the next squeeze higher

STAA (see above)

PHUN.OB is an OTCBB stock the reason it interest me is it “appears” bottomed and volume is starting to kick back up. If they do any style promotion as they have done in the past this could really move. Before they switched tickers  to PHUN their IPO was quite impressive backed by mailers and big $$ squeezing from $1 to $4 before reality kicked in and the momentum stopped but at this point I’m sure the float has been cleaned up and possible for the next move up - watch for press releases to confirm a possible PR fueled move.

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RAMR up about 100% from lows watching for a gap and weakness, this may have another full day in it towards $2.50 similar to SCA which we nailed Friday! Keep an eye on it, I’ll have more thoughts tomorrow once theres a chance to see it played out.

ABK 76 million shares does not go unnoticed, this is a perfect day trading stock for those who like flipping. It’s a cheap sub 5 dollar stock that is trading nearly 100 million shares. Although most of the day Friday it was heavily supported (higher highs and higher lows) but I expected Monday to have more more .20-.40 cent channels due to long/short battles after the 50% gains Friday

MBI looks like a good reversal coming off the bottom, I’d watch for dips back towards the low 7’s, once support kicks in probably pick up a few for the test of $8, on the $8 break I’d probably add to it

RDN - 46% gains on Friday, this has been liquid since hitting bottom trading many times on average over 10 million shares. This could turn into a major short squeeze if it can hold Friday’s gains Monday.
STEC

From scan on Friday some are still in play:
SCA a nice short on Friday closed weak it may gap and sell off more into tomorrow…
STEC a nice bottom reversal as it holds $10
STAA a nice breakout

You can view those scans HERE.

SCA 200% gainer in the past few days, its probably a good idea to get borrows early at a higher prices in case they are hard to come by once everyone senses the weakness. If it’s a gradual move up tomorrow I ptobably won’t take on a short position until theres an accelerated move or a breakdown is confirmed

BRKR up over 15% today, watch for continuation over $14 out of the open, if it fails to break theres probably a good .50-$1.00 downside, but I’d expect a bit of continuation

Watching for a move to $6.50+ before potential weakness comes in

TWP - watching for a gap and crap tomorrow

Bottom Reversal

STEC As long as $10 breaks/houlds this may head back to $12-14 short term.

STAA breakout watch here very nice chart setting up