Sunday, August 15, 2010

Watchers for the 8-16-10 trading session

CNCG

Over extension in the making, this is on watch until a fade entry on weakness arrives. It might not come Monday, as volume is still strong, but it could. Stalking is the name of this game, much of the time. 

LQMT

First red day of Supernovae on Friday. Question is, can more down side exist on a stock that fell over 35% in a day? Possibly. I can see an argument for this being in play both ways tomorrow. I think the best approach is live price action monitoring. If it looks strong early, either be long or flat. Short more panic dumping scenarios.

AFYG

Three White Soldiers. Over extending, look to short on weakness cues. A Pinkie, so be careful here. Volume still strong as well. Closed well off the high Friday so it might be coming back to earth soon.

ZBB

Closed near the 200 SMA @ 0.88 by striking it overhead from below. This price is some psychological resistance until it is convincingly removed, which might come Monday. Lots of technical support at 0.80 and 0.70 permitting longs to play for pull back entry bounces if footing is found there, hoping for a 1.00 test. Remember this is in play both ways, if we fail at 0.88 which could still hold as a ceiling.

PRXI

Great early spike long & then big fade potential here! The Titanic salvage firm won a key ruling in court which sent shares soaring on  Friday. In play both ways, but you know which one I hope plays out classically.

Off record, YTBLA is near some recent support after its thrashing on Friday, so it might rebound a bit. LBSR may not get over .07 ish, but better plays have dropped it from my main list. Some retrace seems imminent.


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