Wednesday, October 10, 2012

10/11/12 Thursday Watchlist

OREX (long-biased, swing trade)

OREX needs to consolidate more before 6 b/o run. 5.97 is key res that it needs to hold but I should wait for confirmation when it hits new high's above 6.08.

RIMM (long-biased, swing trade, earnings)

RIMM is anticipating a 8.0 breakout. 7.5 is key supp and a probable bottom where I will be looking to buy into an intraday short squeeze preferably in the morning or towards eod. Remember that breakout usually happen during morning spikes and eod rally, 9:30-10:30 and 3-4p respectively. 8.29 is key res that was tested twice, 3rd time is usually a charm.
CECO (long-biased, swing trade)

CECO had a nice morning spike spiking to 4.34 (around 10:30a) before fading midday along with the very bearish market. I held for too long (selling at 4.06 from 4.04) without taking profits given how bearish the market was. Let this be a lesson, that you take profits at the end of a morning spike esp in a bearish market like today. It started bouncing into the close so I'll be watching it for a possible morning spike entry. If it doesn't morning spike and b/o key res at 4.16 then I won't touch it and instead wait for an eod spike to buy into. 
ROSG (long biased, day/swing trade)

ROSG (I'm long 5.26) - Is really cheap right now. It's back in the 5.2s which is where it gapped-up to before spiking when it got an analyst upgrade with PT $16/share back on 8/23. I bought in the final 30min eod at 5.26 into the eod strength at this very probable bottom. I'm expecting a gap and spike tomorrow and some time of news (possibly another analyst upgrade or something, anything really) soon. I don't see it dropping any lower but if we go the next few days without news, it could fade lower, in which case I will trade the price action and sell in anticipation of re-buying it at a cheaper price like I did when i bought at 5.88 avg.

SNSS - a good short on any bounces. could drop below 5 by next week.
NTE - a good short on any bounces. could drop below 10 by next week.

SURG - earnings winner that gapped and crapped followed by a mean shakeout like ROSG did after its good news. I am watching 4 as probable bottom. Waiting for it to slip under 4, consolidate and b/o 4.
LPHI - looking for the bottom above 2.0 with 2.25 breakout on watch and 2.35 key res b/o as confirmation. If it drops below 2.0 i'll be looking for the bottom between 1.75 and 1.9 with 2.0 b/o as confirmation. 
LIVE - letting it pattern here at 4. I am waiting for it to slip under 4, consolidate and b/o thru 4.0.

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