Many of the best plays are coming intraday on plays that are hard to predict in a list like mine, in a day trade market like the one we are increasingly finding ourselves in. The following selections represent the exceptions to that new set of circumstances. A lot of conditional entry plays will be included in tonight's list.
No obvious timed release gimmick plays showed up in my E-mail in box by the usual spammers...
PBTH
Several Twittersphere names are planning on aggressively shorting this hod closer SCAMEX breakout that has been on a tear lately and has banked coin for my subscribers for days now. Fair enough, it is getting a little overdone, but while I agree the play is mostly to the short side now, do not enter except on weakness. That may come early, especially if it gaps up (like many hod closes do) and if the Dow is positive early, because profit a taking dump may come calling. I think trying to go long now, unless you bought EOD, is a bit too risky. Keep in mind, though, that unless we are talking about stock up a few hundred % in a couple of days, it is not such a sure thing to assume it will pull back. Breakouts can go on longer than is sane. If we go flat or green to red early, then the odds go way up for the fade play entry.
BGP
Borders today pledged to support the Gulf Coast oil spill relief efforts by donating 10 percent of customer transactions made this weekend. This is a NYSE stock, so be aware. It will be interesting to see how this plays out Friday, now that it has had its initial bounce. Now barely down in after hours, I think some profit taking on this PR may happen already. At best, come Monday some sell-off commences. Conditional entry is to fade any early signs of profiteering, watching from premarket if it trades that early. Long possible, but only if it really looks bullish early and often.
LOOP
Motley Fool in 2008 called this the perfect stock to invest in. Trouble is the share price never really matched the value they claimed was inherent in the equity. In fact, it has recovered to the same levels it was when they originally recommended it. As we are traders, not investors, I like this long on the complete correction hold above 12 per share, which we hope is new support. This can be treated as a swing play, possibly. This is also a short if it fails to hold 12, a cue signal to fade the fakeout breakout.
QCC
Share repurchase and name change hype apparently drove this up today. Shorting failed or unsustainable breakouts is an art form. Here, the chart provides some clues. A high wave shadow relative to the close, PR, and nearby new support to fall back under, etc. Any fall under 1.43 is a possible short, especially 1.40 if the 3 daily candles in April are to be believed. This is also a long if it powers above 1.45-1.53 on volume early.
TECO
Sketchy OTC strikes oil like Jed Clampett. Hokey web site. Up 83% today. Me thinks it pulls back soon. Short on weakness. Not sure if this spikes out of gate or just dumps right away, but even if true a fade awaits.
TIGR
Needs more volume, but this is a potential breakout long above 4.50 with acceleration and holds, and a potential short fade on a failed test of that resistance level. Play at your own risk because it may be hard to enter and exit due to the liquidity here.
EMMS
Bullish engulfing from a basing stock, possible breakout long. Confirmation is trading above the high of the previous session, which is 2.29 on this modest daily candle, which makes it easier in terms of managing risk. Place your stop below the low of the same session, here that is 2.22. If it does not take out the high for the long, continue to watch and play the fade off the take out of today's low on the engulfing candle.
TTCS
This Pinkie needs more volume but has seen some interesting moves lately, particularly EOD today. I think it is fast becoming over extended, and fade bait on weakness. Another technological wonder claim to handle the oil spill is involved, and you know what happened to the other junk stocks with magical claim PR's on that! If it does not die Friday, which is likely, it soon will, so look for shares and wait to chase the ambulance.
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