A good sign of worsening market conditions is the lack of good pumps and other assorted penny brigade plays. When times are good, promoters move their product to a naive public, and they find willing customers as amateur market dabbling is all around them. Guess which kind of conditions seem to be taking hold?
Timed release gimmick guys targeting the opening bell are at it again on Wednesday:
Stock Preacher
http://stockpreacher.com/dailyalert/
Beacon Equity
http://beaconequity.com/dailyalert/
Hyper Growth Stock
http://www.hypergrowthstock.com/wednesday-june-2-pick
Use your browser refresh constantly a minute or so before 9:30 A.M. EST to partake in the fun and games. If you are in at warp speed from the bell you can sometimes grease a long scalp. It is much better to wait and see if it rises significantly in a short period of time and try to short, at least as a quick trade. Often, these loser spammers are so in bed with each other the same pick is touted at the same time by one and all! That is good as it might provide more fuel for the moves, in both directions. Play these at your own risk, it's a crap shoot.
HAUP
Yeah, I know I am stubborn. But the fact remains this choppy hunk of junk closed below the by now oft noted 2.80 area. Ideally, we get below and hold 2.70 for the deeper fade. AAPL cannot save this thing forever.
JSDA
Now a Supernovae scan return, this stock used to have serious shareholders. I wonder how many remain and are bitter. You know how this goes, do not stand in front of the bus, if it looks strong early, do not short it. Your task, beginning Wednesday, is to wait for it to begin to falter and then fade it. I cannot promise it will sell off tomorrow, but it is already up quite a bit. One prominent Twitter trader scalped this long and thought the top was in, but it made new highs after their exit. It is probably safer to go long on a "real" stock like this, despite its low price, than most similar plays, if it looks strong early. I prefer the short if an entry cue turns up.
WOLV
Upward momentum looks to be stalling. This finished unchanged, with a very small body range and high wave stick shadow. A short on any weakness, like opening down or an early session green to red, fall from open, etc.
PANL
This has been on a tear lately, and it could retest 18. I can see this both ways, as a long on the journey back to 18 and as a short there if we stall out at 18ish due to profit taking. I prefer the short if it develops, though.
PBEC
Closed on hod. Possible gap up and profits or that and some additional gravy for EOD longs. As this is also looking a bit over extended, an outright fade may be in the cards Wednesday, too.
CSIQ
This tanked today and also burned up in after hours, due to this:
http://www.howardsmithlaw.com/SecuritiesFraudCases/CanadianSolar.html
Now, the usual scenario is not a bargain hunting bounce, but even more reddening. At any rate, it should be interesting Wednesday. If pressed for a prediction, I would look to fade more panic, if it develops, and the odds of that seem bright.
NBIX
We need this to crack 4 and hold under to consider a short, which may yield a nice fade play. It closed right on 4, but intraday it touched 3.92 and rebounded. Choppy but still in play having finished unchanged. See my analysis for the last session in reference.
BSGC
5 cents exactly seems to be a brick wall of resistance for this stock. Volume is fading, and a fail at that level may yield a short. Obviously, if such a barrier is defeated, it would be a strong breakout long. I expect the fade is more likely, as it has tested 5 cents several times already and retreated. If it reaches 5 cents on a dime, get short, betting that the top will be that price yet again.
Unofficial plays:
THC
Call option skews did not save this firm which is in negotiations to acquire another company, from decimation. Already bouncing after hours, more upside may follow tomorrow if bargain hunters arrive on the scene.
VRAL
Closed on hod. May have a bit more and profits after a gap up. Lots of volume in the last several minutes. Watch both ways on Wednesday, it should be interesting. Ideally you are already in this from EOD.
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