WARNING:
Any of the long set-ups are inherently risky due to the unstable conditions in Europe. It is not clear how much of a correction will ultimately occur. Those waiting forever for a 10% retracement of the Dow may get more than they bargained for, depending on how "spooked" the herd is.
Program sell trading, as the market is controlled as ever always by large institutional players with deep pockets, can only add fuel to the fire of panic, arguably. Look at tons of charts today, and the daily candle is a high wave stick or a deep fall right near the last 1.5 hours of trading essentially "mirroring" the market as a whole. Look at AAPL vs. SPY. Proceed with the utmost caution if going long, unless it is a short biased ETF, like SDS, etc.
Be aware that some of the best plays in a new Bear, if it occurs, are often former real stock leaders, like AAPL, etc. The reason is that when speculators become afraid, they book profits in their biggest winners to keep their multi-month stash of gains. Sadly, market fear among the ordinary Joe tends to reduce the amount and quality of penny stock pumper plays, and even the same in unpromoted cheap stocks in general...
CVGI
News drove this up nicely on a terrible day. It faded considerably from its highs, but is up after hours. Be careful if the intent is to go long, but it might have some life in it early on.
PPO
I would like a pull back on lighter volume to the $18.90 level before entering long. Recovered nicely with the Dow. Tough to like anything long in these uncertain times, but this earnings winner is at least worth a look.
PNTV
Daily doji close, still in play for Friday. With any luck this has more life left for longs, but watch every tick and be prepared to bail on short notice. It could easily fail near the open and dump all day, so be flexible.
HTRN
Potential breakout long if it can defeat and hold with acceleration and volume the 3.69 resistance level. Nice accumulation given the limited candle price range.
EVSI
Still on watch for more upside, but only nominally and probably at outset. I suspect it could sell off by tomorrow and finally yield a fade play for the shorts.
AEZS
Good volume. If this can retest 1.82 and best it, we might be in business. I suspect even if it does continue up tomorrow we will not be that lucky.
UPI
I almost put this on my potential long list the night before, based on the closing price action Wednesday. Today a big gap up and near immediate fade nullifed any Bull advantage, but it might be in play again Friday. Either it has another nice fading session evident early on, or it sees new arrivals long near the open, I predict.
I am also watching GNXP, but it is not on the official list. This could keep going or retreat immediately. Also a tweezer bottom near former support on SNV looks interesting. This may not hold due to the wider market problems over the coming days. It is also not on my official list of picks. My failed swing play BANR may deserve a second look, as it might yield a bounce soon. Hammer on the daily stick. Also not in the offical list.
As I noted earlier, if a new Bear ensues, some of the best plays will be former leaders in their sectors. The hotter the better. If you cannot afford to sell AAPL, check bigcharts.com and their handy industry analyzer screener for these cheaper per share stocks over a monthy or yearly period.
Some unofficial examples:
FITB, F, CAR, etc.
If price per share is less of an issue, try subscribing to Investor's Business Daily, to find hot leaders with bigger resumes. For an unofficial example, PCLN is now taking it on the chin, if it has been one of the best stocks the past 12 months, it will probably see trouble in the coming correction if it has legs, as it very possibly might.
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