Tuesday, June 22, 2010

Watchers for the 6-23-10 trading session

BRNZ

So ripe anymore, this over extension pattern may be shorted on any weakness cue signal for the fade play.

AMEL

May still test a dollar. Resistance area not much above that, so longs should be conservative, but optimistic.

BVF

Bullish sentiment on this, up for 2 days now, and in after hours some more. Might go up even more, at least initially, so be prepared to scalp this long from or near the bell in pre (if it trades there) or regular session. A "real" stock with an important news catalyst, and not a penny, but it should be monitored closely for a while. Trying to time a top on a profit taking drop is tricky, and should be scalped only by the most jaded souls.

ETRM

Possible gap up and dump or gap and crapper. Up over 110% today, we may see a bit more greening before some fade opportunities beckon. This will be in play both ways on Wednesday.

MVIS

Look for a test and probable fail of 3.50 area ceiling on this already over extended stock. If it gaps down barely and begins to sell off I still like it short.

ULU

This had some hype to propel it, not just the pumping of the timed release gimmick gang, who chose it today when it ran up 65% or more. I suspect some profit taking tomorrow can be faded. Look for shares all over.

STHG

Also on fade watch, this ultra cheapie Pinkie is a fade play on any sell pressure panic.

EMIS

A favorite chart pattern of mine. A breakout continuation and pull back entry to just above 3.50 would be nice, which is an area it needs to hold consistently to be held long by swing traders looking to ride this stock up a spell. It got there day ago, but with any luck we will get another chance before another bigger up day makes it chasing. Needs more volume to be taken seriously. Buying this is for the patient, not the scalper.


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