Watchers for the 5-27-10 trading session

Some broader market index analysis to read that makes a few choice points, a worthy read:

http://ibankcoin.com/chessnwine/2010/05/25/hammer-time/

Stock Preacher is coming out with a new alert on Thursday.

I need to remember failed versions of these plays are sometimes shorts on DAY TWO, as was the case with HSCO, which I dropped off watch for today it sold off nicely!

FORD

Closed on hod. Ideally you found this with an EOD scan, as I discussed in a recent post. Possible gap up and profits, a bit more upside early could follow if all goes well.

HAUP

Still watching this for a break below that solid support at 2.80, which in turn takes us to 2.70, after below which it has plenty of potential downside, with no nearby price support to ground upon. It could be a choppy ride and also like watching paint dry waiting for these level cracks, but it is what it is. At this point I only like the short if these technical levels can be taken out on volume and acceleration.

LTXC

Looking a bit toppy after 4 sessions with 3 nice rangers and one with a big high and low shadow relative to the close which printed today. Look for a chance to short the fading momentum if it sports any weakness cues.

BMGP

Similar comments for this stock as for LXTC above. The last daily candle portends fading momentum to short into if it weakens.

SEED

Still looking for more downside. Monsanto this is not. Choppy and unpredictable at times, be aware. Short on any of the usual weakening cues.

LSCG

Lame volume, interesting chart. Possible breakout long above 2.50 and holds, with better volume. Possible short if it tries to test that level and fails. Remember failed chart patterns often give some of the most reliable signals.

OOAG

An ultra-cheapie that has come a very long way in a short time. A distribution day looms, either Thursday or Friday seems a possible target. Getting long in the tooth, a short beckons but trying to find shares will be an adventure and it may not be worth it at 5 cents. Long only if it looks strong again tomorrow.

NBIX

Watching for early upside or open spiking as a potential long. Definitely in play Thursday and possibly Friday.

Unofficially watching:

AVOE

Being spammed. Still hoping for downside to fade.

LMCO

May still have downside after the first clear red day. A big spam culprit.

LVCA

Being pumped. Look to fade this on any weakness.


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