DFT I was hoping would have continuation ended up doing nothing but consolidating, keep an eye for further upside but I’m not really interested in it until it really makes a bounce

FNDT had a nice move towards $9 slow and steady, wasn’t worth the short out of open as I wanted to see it retest the $9 mark – sure enough it did and settled back down 70 cents from the highs

OPTR further move towards $9 for those who held in chat from Friday – I didn’t, but it was a nice break out over $8.50 today before trading sideways at the $8.75 mark, keep an eye for the gap followed by weakness tomorrow

NAEN still in from $2.12 this is turning into a nice one on that $2.25 break I was looking for. I’m interested in this as long as it holds $2.25 level on support, this can easily test $2.50+ this week quite a bit of volume coming in

FRD had no carry over momentum and fell right back as I had thought but just wanted it to jump a bit first for a shorting opportunity

BGS trying to break over $5, still has not done it but may, keep an eye on this one for a move in one direction or the other soon

SKF back of $180s yet again always a good one when market shows weakness

CHIP and GTE great plays in chat today, thx Muddy, as well as SPSN

The server decided to cause a few issues between 3:25 and 3:40PM today but a few changes were made and its a lot healthier we shouldn’t have anymore issues tomorrow.

I’m sure if you check out any of the ETF stocks I mentioned last night you saw why I love them so much. SKF one of my favorite opened $170, ran to $195 before falling back to $147. Playing 100 shares can reward $10-15 point swings if you nail it in the right direction. When the market is churning its harder to trade so I normally wait for the volatile days.

ETF’s: TZA, FAZ, BGZ, EEV, SMN, SRS, TWM, SKF, EFU, MZZ, SCC, SDS, QID, REW, DXD, EUM, FXP, DTO to name a few.

MYL many people nailed this short out of the open today in chat from $9.25 down to mid $8s and back to $9 on the bounce reshort on the $9 break down to nearly $8/share before rebounding a dollar. Three possible big range plays.

CROX in chat watching for the flat line, managed to hold .80 level for 5 minutes before reversing for a near 25% bounce over $1

CTCM tested $5 as expected, didn’t play it but watch for continuation and weakness

FTBK great short out of the open faded before rebounded green on the day

WNR another one on watch last night for the scan gave us a HUGE short out of open as well once it lost $8s and went straight to the low $7s before touching the high $6’s – lots traded this one, congrats on that!

There’s not a lot on scan tonight – the highest percentage gainer was only 25% – I’m looking at recent run ups that are starting to flat line and in this market probably worth the short as soon as they crack support. Futures still pointing down for the morning, we’ll see what happens by 8-9am tomorrow. Scan is slim but ETF’s still breaking to new highs, as many of you know SKF one of my favorites has a few new friends (mainly – TZA, FAZ and BGZ) which happen to be on a tear as well.

Other ETF’s worth noting are: TZA, FAZ, BGZ, EEV, SMN, SRS, TWM, SKF, EFU, MZZ, SCC, SDS, QID, REW, DXD, EUM, FXP, DTO to name a few.

DTO has been on a complete tear for the past three months. As you can see some are more volatile than others – when trading SKF I like to have SPY and QQQQ pulled up along side.

MYL watched for the $10 test today didn’t happen weakness kicked and and tested $9, if it can break under that $9 level where it bottomed out last time it may be able to test to the low $8s or more

CROX had horrible earnings after hours yet again down quite a bit after hours we might have a sub dollar play tomorrow

CTCM potential following knife bounce play ready to test $5 before falling back to new lows, keep it on watch

FTBK watch for this momentum to slow and weakness to kick back in, bounces on this stock haven’t last more than a day or two for the past 3 attempts

Keep an eye on BGS and WNR from our previous scan HERE – they are getting toppy just waiting for the bottom to fall out

From lats nights scan HERE

CPHD gave a nice 5% return on the short today (about a $1.00/share) from open, expect it to test $14 tomorrow

CROX – was the best one of the day, we nailed it in chat around $3.05-$3.10 per share before it fell straight down to $2.60 before selling off yet again to $2.30. End of the day provided a nice bounce I went long at $2.35

CIT tried to squeeze through mid morning, starting to weaken after failure to re-break high, spotted the weakness with the market falling on the break under $6 and provided a .50/share short

ESLR great short today right to where I expected – may continue to fall towards $3.50-4 over the next week

RZ finally decided to give back some of its gains late in the day – hopefully it test higher tomorrow before finally sticking the plug in it back under $5

SKF nice 20% mover on the market failure

Chat logs will be posted later tonight – you can review the previous two days HERE, keep in mind they are in Pacific Standard Time

CVH still top on my list for reversal potential, didn’t touch it today but once the market proves its going to carry a solid bounce this is most definitely on my watch

SPAR brief consolidation watch for the $3.50 break

JAG keeping that $3 level support, watch for continuation tomorrow

TKR 12% bounce today don’t expect it to last more than a gap and brief continuation out of the open

DRYS is the global shipping industry really this awful? I’m watching for a long on the first market day that carries out a reversal and this should test back to $17-18 easily

OIH good for a decent trade today, sold out about $3 dollars to early but still managed to grab about a dollar gain

SKF held support through the day and squeezed like crazy into close watch for the gap and potential short out of open on market reversal

EMAG continue watching this one, as long as it holds $2.50 this will hold the bullish channel and should continue towards $3

LGDI sold off out of the open about 30 cents towards $1 but recovered, still bullish wait for it to test $1.50 and spike before shorting, if it doesn’t make a move in the next few days just take it off radar since it lost a lot of its volume

SLXP held the $7 range support watch for the $8 break and spike

UTEK as expected turned into a consolidation machine wait for the move towards $16

UAUA nice shorting opportunity out of open and yet another full recovery towards the high of the day

XJT first day it doesn’t move towrads the upside large, but lots of consolidation leaving more of an upside potential, keep an eye for the $2.50 test, once it moves off there watch for weakness back under $2

ABK long and short battle today – tomorrow will tell the tale

AAPL grabbed this one right off the bottom, watching for the reversal around $94.19 to be exact (my entry) sold right around $95 leaving a few dollars on the table, but I like to lock in gains so that just comes with the territory

CVGI from our alert around $1.50 and entry, mentioned a few times today, $1.80s, once it cracked $2.07, and once it spiked to a near 40% one day move

SKF had a few good trades today predicted by the DOW, QQQQ’s etc covered a bit too soon end of day in the low $129s before it dropped to $126

BMI slight bounce nothing to shout about, going to monitor this one and SA the next few days for dips, once they reverse hoping to grab $2-3 bounce off a squeeze

AAI not really a shorting opportunity too much risk involved it touched $3.50 sat back and then consolidated, took it off scan

ABK another great trading day for this one lots of swings in one general direction… up .. watching for the squeeze and hopefully a nice shorting opportunity again

Airlines were hot hot hot as expected

UAUA great shorting opportunity for $1.00 downside mid day followed by a $1.00 plus bounce back towards highs, this will still be in play Monday

UTEK closed at highs but this is the most likely short of the bunch, this looks a bit less strong than the rest

NWA similar chart to UTEK monitor for the $12 test and then short if it fails

These airlines may continue to squeeze with the market if it comes out green Monday morning so keep that in mind, I will have a scan Sunday night for Monday.

SKF and EEV all great intra day trades on small shares they move $5-10 dollar swings many times per day

CVGI $1.50 we grabbed for the reversal, quickly hit $1.72 closed at $1.64 looks good for a reversal but take your profits on the bounce, don’t marry it

As you saw in Hot Stock Scan for Tuesday the 14th of October I felt EEV was a complete over exaggeration compared to other short indexes like SKF. EEV fell to pre market fall levels, mid September before the market fell EEV was trading at $90-$95 a share. If you compared it to SKF in that same time period the stock was trading between the same range, $90 to $95 a share. Although both tanked extremely similarly EEV took an extra leg down towards mid September levels before the market fell, while SKF consolidated a bit higher. So Tuesday morning the stock tanked and I began monitoring at $93-94 and wanted to see it test $90 before jumping in. Sure enough it tested $90 for the entry I figured it’d test $110-120 and yes we made it $110, but still had a way to go. Today gapped open held gains all day and squeeze to a $130 close and is currently sitting at $145 after hours for a near 40% intra day gain and a 60% gain from yesterday’s entry yesterday. Do I think it’s going higher? I expect a bigger gap than whats shown now at $145, futures are already pointing down the stock will probably gap and if the market shows any signs of reversing it’ll probably begin to sell off. I’m not too sure yet that the market is convinced this dip is a good buy, we may go lower… AGAIN.

EEV this is an over exaggeration, keep an eye as soon as the market reverses down tomorrow this one should spike towards $120-125 – Don’t take SKF off watch either its the best long when the market begins to tank!

Our second trade SKF entry at $107.50 has provided 25% gains today as well near 40% returns from yesterday and has room to run towards $150 easily if the market looks to open 200-300+ points down

Yesterday we posted about it HERE as well suggesting a stop loss so you could continue riding the wave, hey.. there’s always a bull market somewhere and yes we found it in the short indexes.

To view scan please visit HERE.

RRI with the gap over the $6s squeezed out of open and fell back nearly $1.50/share – worked out exactly as anticipated

MHY didn’t really give a trade opportunity, yes it was down 21% today but opened nearly 15% down

PFD showed no weakness, had the run towards and over $6 monitoring this one for weakness tomorrow – this will be on my scan later for a short tomorrow on the test towards $8

EEV absolutely nailed this one today under $93 was a buy all day, suggested it if it tested $90, it was an overreaction from Monday felt it would test $110 from $90 range and sure enough hit $100.37 giving everyone a potential $18-20/share profit

SKF entered at $107.50 figured it’d test $120+ ended up hitting $123+ possible $15/share profit!

XL once I saw a triple bottom at $11.60 I knew if it lost it sellers would more than likely jump on and take it under $11.50 and profit takers would take it down towards $11, long story short it dropped over a dollar per share when it lost the triple bottom

From scan last night and comments today EEV and SKF have provided us with over $10/share profit each!!

We were looking for $90 to test on EEV for the purchase and a probably bounce test towards $110-120 short term but regardless a good buy under $93

SKF we entered $107.50 looking for $120 – well we got $118/share or $11.50/share! If the market heads red which it’s on its way to doing this will crush through the $120’s either way with a stop order in place you can be sure to nail at least $10/share profit.

EEV this is an over exaggeration, keep an eye as soon as the market reverses down tomorrow this one should spike towards $120-125 – Don’t take SKF off watch either its the best long when the market begins to tank!