Watchers for the 8-3-10 trading session

CBPO

Thinly traded over extension play has plenty of resistance right around 14 per share. A hod closer, this is a long on a move above that level and holds with volume and acceleration, but much more likely here is a fail at that same level or sell off that can be faded. The ceiling is such until proven otherwise, as noted. A Chinese stock. One playable outcome would be for it to open flat or right at/near 14 and then fizzle.

POL

As in the first stock of my list, some technical resistance lies all over the place not much above the closing price on Monday. The high 11.80's is just about  10 cents off the high today. Quite likely if more upside occurs Tuesday we will see profit taking near there, or at 12, a psychological sell point. A several month cup correction occurred on this thing. If it takes 12 and holds, with volume and acceleration, it is a long. Much more likely it fails on any test of 11.75-12 and yields a fade entry.

SWIR

Red floater scan return. First down day on Monday. More profit taking down side possible, but be careful, this could easily squeeze hard. Only fade it on weakness with clear entry cues, like green to red, etc. Recent moves have come on the back of strong earnings. Any early strength is a potential buy. Price action situation.

GERN

This has nice fade potential if we get a proper set up tomorrow. The best scenario is early up moves and peaking out spikes, which are short cues. Less aggressive folks can enter on a crack of 6, where at least 30 cents of down side should be available before covering.

AHD

Another potential short, this may make another run for 9 which could stall there, permitting a fade entry. Wait for it to make the attempt and weaken, before fading. I like the odds here as it is already over extended.

Unofficial watcher UPWRF is a Pinkie that may bolt out of the box tomorrow and fall nicely yet again for a fade entry for the brave. Not sure what is behind the move, which bodes well for spike faders. Risky, though.


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