Monday, October 8, 2012

10/08/12 Monday Watchlist [with follow-up]

SANP (Short-biased, Pump&Dump)

SANP is a pump and dump being promoted by Stock Market Authority (SMA). Their pumps usually last for a few weeks (see there previous pumps HERE) so they could hold this thing up for weeks, which means you should be cautious shorting it. I'd short small positions and try not to be too aggressive as it could still run if it manages to squeeze thru key resistance at 1.75. Res at 1.63 is not key but if its weak it could crack at any res. Look for a top at any of these res but keep your finger on the trigger/stay alert at all times until it tanks. We missed a perfect top on Oct 1 before the washout down to 1.15. Until volume picks up, I'll be mostly watching the 5min and 15min chart for a top. Stay alert.

SANP panicked beautifully. I considered shorting the top at 1.51 but didnt want to pay the $100 trade desk fee at SureTrader. This thing is probably dead but you never know, this is a SMA promotion which could run longer. Just keep on watch for a bottom for a bounce play.

ZNGA (Short-biased)

ZNGA moved as predicted. These bounces are always potential buys if you know how to play them, but of course you must remain short-biased. It had some breakout volume eod, so just be patient and wait for a squeeze (i.e. bounces near or above its highs with fading volume) and then look for the top next week.

ZNGA topped nicely. I am short 2.45. Volume is fading so im holding short.

ROSG (Long-biased)

ROSG didn't do much but consolidate and hold its position. This price action is still a good set-up for a monday morning dip (below 5.75 to lure in aggressive shorts) and spike. If there is no news today or tomorrow it could drop another 50cent so you may want to sell some into a bounce to prepare to buy at lower price. All it needs now is news.

ROSG consolidated some more as the anticipated press release never came because the conference meeting got postponed or something. I sold all shares at a small loss from my 5.88 avg. I should keep dropping towards 5.3 where we can buy some at those cheaper prices. It should not drop below 5.25 as that would be too bullish and foolish of market makers. Beware of fakeouts below 5.25 but it should not hold under for long. I will buy partial position near 5.3 for swing.

SRPT (Short-biased)

SRPT gapped down and morning panicked to 34s. This is what I was looking for and why I shorted end of day the day before at 37.5 and covered at 34.6 for a quick $300 profit. It ended weak and may gap down again. A reshort on any spike/gap-up towards (but under) key res at 36.25. This thing will likely be under 30 this week as profit taking continues.


SRPT behaved as I had called. It gapped to 35s (but under key res 36.25) so it was a great short from 35 as it dropped to 31. 

SNSS (Short-biased)

SNSS squeezing nicely. This is the kind of squeeze i like to buy but will just play it on the short side this time. It looks like it may be topping at key res 6.5 so look for the pattern and be prepared to short.


SNSS still squeezing. As I said look for the top near 6.5 and short it especially as volume fades.

NTE (Short-biased)

NTE Friday squeezed today. I covered 11.11 fromm 10.99 as I cut my losses. You never know when a squeeze will lead to a breakout so I don't gamble it. I shoulda coulda woulda shorted again just under 11 but was stuck watching other trades. Still a reshort under 11 on any spike or gap-up. NTE should be atleast 50cents this week but could do alot bouncing if investors are still supporting it.


NTE no big moves. Still looking for a top and short.

BBDA (dead pump rebound play)

BBDA has support at 0.006. No play until it bottoms near/under 0.003. If I could find borrows and could effort to short this stock, I'd short it at the top of this Friday squeeze for a nice 50% drop in a couple days.


BBDA no big moves, just waiting for 0.0025 after 0.006 gets taken out.

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