Wednesday, May 05, 2010

Watchers for the 5-6-10 trading session

PDGO

Three white soldiers. Guardedly optimistic of at least an initial continuation. This will be profit taken eventually, but the volume just keeps getting nicer. Skeptics can try for an elongated long scalp in the morning.

SRLS

Volume a bit thin, but at 52's and closed on hod. Down after hours, possible early red to green long.

LEI

If this stubborn runner opens on a gap up and looks strong, get long or stay flat. If it opens down and you get typical weakness cues, go short. You can also short this on an early green to red, but be guardedly optimistic. These speculative energy plays are capable of lasting longer than many anticipate, as is true here.

PNTV

At 52's. Closed on hod. Somewhat recently promoted. Looking for more upside, at least initially, or r/g long.

EVSI

Still in play, but getting top heavy. I expect it could have one last gasp up left at least early. Possible r/g long scalp. Be prepared to exit fast if bullish. Obviously, fading this is possible if it clearly starts to slip.

No play guidance or predictions, but always monitor the last session "winners" from Watchers, usually for more moves in the same direction. For 5/6/10 these are BIOD, MMRF, and the above stock which I am including in the actual prediction list. Often more action is found after it drops off the main radar.

INHX

True, the rise at points was gradual and in reasonable jumps, but so many up closes straight catches my eye for a sell off, particularly in these Greece angst times. I suggest only shorting on clear weakness cues. The key here is to identify the day of the profit taking, and to short into it. Since this could still be some days away, I hesitate to include it on the prediction list. Just keep watching this daily, and wait for a fade chance.

BANR

Long swing play. Uptrending stock with 8 days straight of lower closes. Some grounding in the 5.30 area. This is risky due to an uncertain Dow, but the intent is to roughly time the bottom and hold on for several days. Exit on a close above SMA 5 or an RSI 2 signal method. Daily doji + falling sell volume is a good sign.



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