Special note to my subscribers:
This was posted on my blog mirror site shortly before midnight last night, June 6, 2010. Blogger.com would not allow log-ins for more than 12 hours from around 10 P.M. EST on the 6th until this afternoon! I Tweeted the link to the mirror just after I posted this list, but several of you with E-mail or News Reader subscriptions may have missed the Twitter update.
I have a link to my Twitter page by clicking on my cartoon image, but will be adding a click-able icon for it on the blog. I deeply apologize for the inconvenience and confusion it may have caused some of you. Blogger has been pretty reliable but this was a big disappointment for me.
In case of any future failure, if you find yourself with 30 minutes to go before the open and find no list here, check my Twitter page for a posting on a mirror blog host. See:
http://twitter.com/traderbigt
-----------------------------------------------------------------------------------------------------------------
Worsening market conditions are taking a toll lately on good plays in the penny realm being available. If things get slow it may be best to concentrate on preserving capital and waiting for quality setups, which is hard, I know.
Volume is decreasing lately as the market tries to regain the 200 day moving average. Choppy and thinly traded, some opportunities will occur daily as they always do, but it is best to be as selective as possible just now. Consequently, I do not have many really choice plays turning up in my scans for the Monday session. At least futures are pointing to a positive open last I heard.
The timed release gang is at it again for Monday. Refresh your browser just before 9:30 A.M. EST using the following links:
Beacon Equity
http://beaconequity.com/dailyalert/
Penny Stocks Finder
http://alerts.thehotpennystocks.com/todays-alert/
Stock Preacher
http://stockpreacher.com/dailyalert/
My recent article on how to play these gimmicks should be read first:
http://traderbigt.blogspot.com/2010/06/timed-release-gimmick-play-management.html
Do not forget the short on fading momentum is usually your best bet, as explained above.
EMIS
Nice chart. Much depends on how the broader indexes perform next week, the tone of which may be set as early as Monday. A 2 month price correction is trying to break out above 3.50-3.60 from below. If it can take out these levels with volume and acceleration, coupled with a cooperative market, it might be a long. Reached 52’s on Friday. A failed test of that resistance level is a short play. Again, allow the S&P to clue it.
PIP
Strong volume and range on Friday, but closed off its highs. A possible modest gap down with an early red to green move on Monday if all goes well. This will enable a long for the morning & a lunch time or somewhat earlier exit, but probably not much more.
CMED
Obviously I do not trust any Chinese firm long or short. But check out this bullish engulfing candle! Already on track to open on a gap down of 1% this could go red to green early for the longs who may benefit early on with an exit within the first few hours.
TLAB
Bottom fishing bouncer play here. Held support near the 200 day moving average. Massively oversold, and up over 1% after hours. The idea is to catch early momentum long and scalp or otherwise exit within the first few hours. If it trades in premarket, try to watch it from the gun.
ARWR
Up after hours, this took out the 1.75 recent ceiling and had a hod close. It may test 2. A few things can happen here. We could gap up with some early upward mobility, or do so and fade quickly under the previous close and go red to green soon thereafter for the bulls.
HYTM
Flying high on no obvious news, this is a possible fade play Monday. A quick check of the message boards turned nothing up except advice to check for news prior to the bell. Ok…
AZGS
Very impressive moves the last few sessions with some volume. Possible early red to green upside seeker, probably after a gap down open on Monday. It also may be peaking so watch out for an early fade as well. Often in trading it helps to remain flexible, and act accordingly to the price action you see developing before you in real time. In other words, trade what you see.
Unofficially watching:
JSDA
Dropped from my regular list after disappointing me on Friday, this should still be monitored. It is hard to tell if this is going to just be a day late for the short I wanted to see realized last time, or if it has a nagging upside or many days of annoying choppy nothingness ahead. I do not want to get caught in another HAUP. Still, if it sports sideways price action long enough to establish some firm support, a fail of that could make a great fade later. So, starting Monday I will watch only.
The blog has a terms of service. Be sure to read it at:
http://traderbigt.blogspot.com/2010/02/please-read-my-terms-of-service-i.html
No comments:
Post a Comment