Thursday, August 19, 2010

Watchers for the 8-20-10 trading session

BSDM

First red day of Supernovae sell-off. Now a red floater, this might yield more fading if the herd cooperates on Friday. As always, let live price action decide. If it looks strong early, do not jump in. Always short weakness, such as going green to red, or furious dumping out of the gate, etc.

VVTV

Poor firm that is responding short term to supposedly favorable earnings. It seems to be petering out a bit and might be shorted on weakness Friday. See my P.A. rules for BSDM above, they apply here as well.

MJNA

We could see more retreating in this still over extended stock. Again, see my rules for above 2 stocks.

GBG

A hold of 2 is a long entry here. A fall below is a short. Second straight night this stock is a watcher.

YNGFF

Tweezer tops on the daily over extension from Thursday that might finally yield a fade entry. 0.62 seems like a ceiling here. If it holds and begins to fail there, the shorts might be in business. A move above there, is a long.


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