Last nights watch for OSTK move higher towards $20 lookiung good so far, approaching intraday highs now.

“OSTK - see chart HERE - this is ready for another move HIGHER toward $20 IMO”

UNS down .70 today down $2.00’s from its highs
EZCH took a breather today, RGN gave back all gains it made yesterday before recovering …

MMR watching for this thing to squeeze before any short position taken. This looks like it wants $30, but need to watch in case it tops off before that and starts showing weakness

BIDU reported after the bell today, Q1 profit surged on ads, you can read the report HERE. It’s trading up just over 2% higher after hours. Option players: too bad for you (sidelines was the better play!) Maybe tomorrow brings the $25 to 50 dollar swing you were hoping for in sympathy of GOOG’s move after earning.. sure it’d be nice, but HIGHLY DOUBTFUL.

Although its not a $90 dollar surge on earnings it’s still extremely significant that it’s still trading at $150 dollars higher than it was one month ago. That means the market has accepted (for now) the powerful surge we saw in the last month and in fact gave it even more of a premium to that move today after hours. Just look at the chart, up $160 dollars within the past month, up $60 within the past week, NOT BAD! This says a lot about where the market may be headed now that some of the biggest companies have released their numbers versus the fear wall street had less than a month ago. This may be even more meaningful than GOOG since GOOG didn’t have any earnings priced in, people were wearing about what they’d produce for results. All and all, I think its a good thing, the real test is tomorrow - we’ll see, after all I’m not buying these things to hold, they are just trades.. and with that all I want them to be is VOLATILE. MSFT down AH’s on earnings.. eh.. Not too worried its BIDU, AAPL and GOOG that will pull the market up down or as we’ve seen the past two days… keep it at tight consolidation phase.

Anyhow, next is MA and V. Visa which as we saw how $70 was THE KEY BREAK and moving straight up following MA.

Now .. For Friday:

Scan: UNS MMR EZCH RGN UTEK

Yes a revisit to three stocks - but they are all still in play USN MMR and EZCH

UNS - without going into detail again, the way it should be played can be found HERE. To add, it may gap over $32 tomorrow to try to scare off some short sellers into covering, tease some longs into buying and yes… ‘gap and crap’ is the play I’m looking for out of open - but play with caution it can squeeze at any moment - read THIS first.

MMR - attempting to test that $30, if this starts to fall again it may not come back so easily this is up 100% in a month. One last hoo-rah of a push by the longs before the shorts take over and give a $2-3+ correction. A good play if it squeezes out of open is to use today’s strategy on USN watch for it to triple top before you jump in, take a partial position if you feel you’ve nailed the top and add once it has confirmed. The way it came back today shows that it is strong … so I’m not jumping all over this to short it, I’d like to see a squeeze first.

EZCH - from last nights scan - this is why it’s important to watch for key breaks and see how it reacts. Most importantly - Let IT put the top in, don’t throw a dart thinking you’ve nailed a bulls eye. I am using the same strategy I spelled out last night to play this one. It broke the $15 barrier now I’d like to see it test the next dollar mark at $16. If it does I will watch for a large spike to short on, if it doesn’t I will short when it breaks back under $15

Two new ones

RGN - this has been quite a move off the lows up over 120%. Watching for this to test $2.00’s. This really isn’t that much $ volume so it could go either way as you saw with PDO. Watch for spikes more on this as it plays out…

UTEK - if this can’t break $14.50 tomorrow radar it heavily, if it does.. use a EZCH style apprach

PGNX would be on my scan, but I looked at it after hours… it’s up 20% on news…Progenics and Wyeth Announce FDA Has Approved RELISTOR No thanks!

Many times I scan back through my previous scans - its easy.. and all of the charts are there and update daily … Today scanning back things that didn’t pop up on my regular scan which show decent plays setting up are:

FCSX - see chart HERE watching for $40.80 to drop can be a good play back to $38
OSTK - see chart HERE - this is ready for another move HIGHER toward $20 IMO.

GRMN may squeeze towards $50

“GRMN has it sank enough yet? $43, if the market is strong tomorrow this
could move towards $45, I’d expect a small bounce before it hits more
lows. In fact I believe $42s will be the lowest this goes for the next
month”

Not TOO many on scanner tonight, but that’s ok tomorrow is Friday. Remember, don’t force a trade, if there isn’t volume don’t bother. You want something that trades so that you can always get in and out at the click of a bottom without getting ripped off. At times, if it lacks volatility and/or volume there may be a spread between the bid and ask, if you decide you want to cover there could be a .25 to .50 cent spread.

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Wednesday’s scan played out EXTREMELY well. The first three stocks on scan, GSI, UNS and TBSI turned out exactly as anticipated.

Starting with GSI, it didn’t break the $11s like I figured it may out of open but it did attempt too, managed to get to $10.87 ….. following that it took an immediate drop of about $1.30. The target cover was around $10 anticipating it may find some type of support there and attempt a bounce (since we are traders and we are only trying to get the quick drop and not marry the stock) but it didn’t even flinch and went straight to $9.50. It did recover over the course of the day but the easy part is over. I wouldn’t be surprised to see this at $9 by next week but I’m only in it for the easier technical trade, its rolling the dice if you stay in, could squeeze back towards $11.

TBSI was a perfect short out of open - it walked down $4.00 right away before coming back $1.00. It’s possible that it continues down but again, its a guess. The more obvious trade was the correction after the squeeze/stop loss profit taking that happened today out of open, not really worth shorting anymore more likely a long if it dips another $2.00s.

UNS - played out EXACTLY as anticipated (wow!). This was a perfect example as to why you should only take a partial position until the stock confirms it’s going in the direction that you want it to. UNS attempted to break $33 multi times, it did, it traded above it but finally topped out and started its downtrend. When this bounces intra day it goes up on hardly any shares at all, when it comes down a lot of shares are exchanging hands. What is this important? Although its chart is completely over extended - there is still a lot of buying interest. Tomorrow if it breaks $32 I would watch for the fall back under it to see if it continues its downward trend. It may be another ‘gap and crap’ style play. This does have a gap to fill around $30 so there is still plenty of downward potential and pressure that may come towards that level. Be cautious if it begins to squeeze again and don’t feel bad about taking a profit.

EZCH a great example as to why we let them find their tops first before guessing about it, this is back on watch for Friday. More on this later.
MMR had a nice dip of $1.00 out of open but battled back immediately and closed green, a sign of longs being in complete control. This will be on watch for Friday as well. More on this later as well.

I hope you’ve found some of this weeks plays profitable. EXM is down near $4.00 from where it opened.. this is a text box “gap and crap” as explained in the last post. MMR is down just over a dollar, it still has a way to go.

TBSI is down over $4.00!!!
GSI down about a dollar! Right past our $10 dollar target to cover

UNS is squeezing over the $32 dollar mark. $33 dollars is key here, it can either break it and spike or it can jumble around just above $33 before losing steam and falling back under. Watch for any .50 cent spike to short on if it does squeeze over $33. The best strategy (the one I will use) is see how it reacts once it breaks $33 on the dip back under it, if it doesn’t break it again, odds are in your favor.. (Similar strategy to KOG join the weakness, don’t throw a dart guessing at the top)

Watch it like a hawk from here on out. If it loses $32.50 profit takers will start to come in by the masses hoping to by it back $3-5 dollars lower.
UNS is currently at $33.03 as I right this post, looks like a top is being put in BUT has not yet been confirmed. It’s always a good strategy to take a partial position whenever enter your trade on plays like these, worst case you are wrong and you only lose a percentage of what you would have if you dived right in! You can always add to your position once it has been confirmed. For example (on UNS), it may want to test $33 dollars a few times before it decides to top off, or…… it may break it and sprint to $34 (in which case you’d look for a .50 cent spike as mentioned above). This can have a $2-3 dollar downside potential over the next two days IMO (in my opinion). As far as downside and when the steam will pick up, if $32.50 breaks its possible to knock out a few stop losses and see a quick move towards $32.25 - if this happens the magnet will intensify at $32 and probably end up there by end of day. Good luck and don’t forget to take profits!

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