Recap: Stocks in Play - Some Breakouts Some Shorts Some Notes
Thursday, June 19th, 2008Scan coming shortly for tomorrow - here is a slight recap as well as some new notes. If this is your first time here please sign up HERE to receive them via e-mail!
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GTE made quite a move as of late and provided a great short after topping out today providing nearly a $2 dollar short from highs. I’d say it’s time to take this one off radar because the easy move is done here. It probably will channel between $7.25-$8 range if its going to head any higher. Most of the move is done, downside will be limited by possible consolidation.
From scan HERE.
GTE Gran Tierra Energy Inc - great break over the $7 we were looking for HERE, no reason to short this one until it spikes .50 to $1.00 in a day. Looking good, although I am monitoring for weakness once it goes red could head back to last weeks prices quickly.
IPSU great move today watching for more of a move tomorrow, needs to hold $14 as support for a confirmed reversal
IPSU Imperial Sugar Co New - coming off bottom, I am a buyer on the $14 break for breakout towards $16
MEA at tough resistance - if it breaks this will easily crack $18 and squeeze towards $19 in my opinion. Worth a watch if it does (it needs to break May’s highs to force any shorts to cover)
MEA Metalico Inc - Not convinced but we’ve had good luck with this pattern lately like ENOC found HERE (which had a great breakout today)
TGC tested $2, profit takers came in ask expected and sat right back down, the move will probably get boring if it doesn’t break any higher out of open tomorrow - if it retest $2 it may have staying power, but I doubt it - we’ll see consolidation around $1.60-1.80 in my opinion.
TGC Tengasco Inc - great scan by Timothy Sykes huge breakout this should gap and test $2, at which point I’d probably be happy with my gains until it consolidates again and proves it can move higher.
From Scan HERE
Sure enough, $7 level consolidation and reversal, good for 50 cents + so far, next test = $8.00.
SONE S1 Corporation - nice break over previous highs, watching for consolidation around the $7 level for a reversal
TIV has surprised me by holding up, if it breaks under today’s closing price I may take a starter short position and add on the break back under $9, looking for $.50 to $1.00 correction. BUT keep in mind, don’t try to guess the top, only if it breaks red - be ready to cover if it shows strength.
TIV Tri Vy Corp - great trade from scans last night this should test $8 easily on the momentum from today
BOLT I’m done with for now, it panned out exactly as anticipated - $24 didn’t crack and it corrected today $1-2 from highs. Right now the easy part is over so I take it off my immediate scan until it shows up on scan again or is nearing a break point, no sense trying to force a play when it could go either way.
BOLT Bolt Technology Corporation - If this doesn’t break $24 I’d look for the short ($1 to $1.50 downside potential, I wouldn’t marry the short). If it test it and can make it past $24 it may test $25+
ARTE unable to pass $2.00, nice .60 cent short for those who went for it - not an attractive trade any longer for me.
ARTE Artes Medical Inc - squeeze mode watching for this to test $2 for a short if it can’t pass it.
ENOC been a fun one, hit $19 today from buying on the $16 break, this is an attractive stock for a gap and squeeze tomorrow, to sell a long position and think about taking advantage of a $1.00 or so correction.
ENOC Enernoc Inc - Great chart, great consolidation I would buy this on a $16 break
From Scan HERE.
This turd falling to new lows, it trades thin so I’m sure they’ll try to prop it up as many times as they can to sell as much stock as high as they can - but we’ll see how it pans out, those who followed the report above regarding doubling stocks made about 90 cents on the short side. My position is listed there as well - I may just let it pan out over the next few months as this thing drops - but we’ll see, trade it at your own risk.
ELNK broke the buy area hoping for breakout over $10.50+
ELNK Earthlink Inc border line breakout here, I’m a buyer on the break of $10. Nice consolidation between $9.50 and $10, I’d say downside near term is limited and a better breakout potential.




