Tuesday, October 19, 2010

Watchers for the 10-20-10 trading session

PIP

See my comments from last time, they mostly still apply. This monster has to pop some time soon. Warning signals are arriving, like its early weakness today, and the declining volume and narrower trading range.


GRNH

See my comments from last time, they mostly still apply, except the volume is now not increasing. Too cheap for my taste, but I do like the over extending chart as a potential short.


TITXF

Now a Supernovae scan return, I hesitate to list this as a potential short on profit taking just yet. For one thing, it has some positive news aspects associated with it, and the moves up each day, including today are not hugely idiotic gains. The gap ups on each day in the recent rise is also a sign of unusual strength. Nevertheless, this is a short on the usual confirmed weakness cues. As it is on any massive dumping action, especially early on. If it looks strong early, a long is possible, despite all the up days, since the price action on the moves as I explained above is not only Bullish, but also measured. Possible 2 re-test, a natural psychological selling point where it stalled out at today. Any take and hold on volume of 2 is also a long.


SHZ

Another hot Chinese stock at new 52's, which experience shows tend to go even higher, at least short term. Up huge today, though, so I wonder how much it has left. Possible long on initial spiking/early strength good enough for a green scalp at least. Obviously, confirmed weakness cues are a fade entry. If we gap and crap on it such a fade could come on a green to red if the size of the gap is anything sane. 2.50 test is up next.


 GDLNF

Riding the rare earth element train that is all the rage lately, this seems to have little or no promotion. Peaked out at the psychological selling point of a buck, and it might retest that if it opens below that. The past few days have all been gap ups, though. If this weakens I am flat, as this area of speculation is too hot now to risk a squeeze, even on a green to red. Ideally a long is found as a scalp on initial spiking or strength with a wait and see approach on a longer hold depending on how it handles a dollar test.


REE

A more high profile rare earth element play, the best play on this was today on the early red to green move, but it might have a bit more left for longs before stalling. An encore of today would be nice, so if it opens a bit down, watch for a similar move as it had today for the Bulls. If this weakens I am flat, see GDLNF for why.


TWER

Gearing up for a possible 3 test, this breakout also looks fierce. Long scalp on a test of 3 if it spikes out of the gate or shows early promise. Also a long or hold of the scalp if it takes and holds 3 on volume. New 52's usually go even higher short term. We could begin to sell off at 3, but I am not much interested in a short here.


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