Tuesday, May 03, 2011

Watchers for the 5-4-11 trading session

GENE

Supernovae, now maturing. See my comments for last time, which are generally correct in terms of entry/exit/play management suggestions. One difference is that buy side volume is declining, a good sign. This one and the one below are several day movers.


GRAN

Supernovae, now maturing. See my comments for last time, which are generally correct in terms of entry/exit/play management suggestions. One difference is that buy side volume is declining, a good sign. This
one and the one above are several day movers.


LFVN

Biggest volume yet, and today was great, but I would not want to overstay my welcome as a long. Possible 2 test, if it busts through on a flat on nominal up/down debut and holds with volume and acceleration, it's a long, but I would look to see if they dump there as a fade entry preferably. Or if it gaps just over 2 and falls back under early for the fail fade entry. Down a bit over 1% A/H so if that holds up it could be the test question.


AXTI

Potential break out. I like this long above 7.33 and holds with volume and accelerating prices. Chart gap to fill above 7.71 to the 8.30s. Keep flat on sustained weak price action and failed tests of the B/O level.


PCS

New 52's. Short term, these yearly high stocks usually go higher. Consistently strong price action, like trading above the opening price level after the first 5 minutes, is a long. Or, if it gaps down a bit to debut or opens flat and falls briefly, a red to green and hold with strong volume. Also long on spiking up at or near the gun as a scalp. This might be an EOD exit, depending on how it holds up. Also long on a break above to new yearly highs and holds. Avoid shorts. Keep flat on enduring weakness. Up a bit A/H. Nice B/O and volume. This released earnings today which apparently went over well with speculators.


MRGE

See my advice for the above stock on this new yearly high equity, which this play resembles. Entry/exit/play management tips are quite similar. No change in the A/H quote here, though. Earnings related move, naturally.


BIOS  

A stock that soared this morning after the company reported Q1 results showing a swing to profit and a significant jump in revenue. Possible long scalp on spiking up at/near the bell. A lengthier hold depending on how well it maintains, or if it keeps gradually drifting up. Possible early red to green long. Keep flat on consistently weak price action. Since last October it has hit over 6 twice and failed. A hold above helps.


Off table, I'm watching very low float potential squeezer  ORS for more upside if it can hold 2. Up almost another 3% A/H. Possible spike up at/near gun to long scalp. Potential short on 2 fail but I am flat on that given the risk of a squeeze. Up nearly 90% today on a modest volume stick.

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