10/12/12 Friday Watchlist

Friday's are known for short squeezes so I will play the odds and not short anything and instead am focused on squeezes to buy into. On watch:  ROSG, PGNX, LPHI, CTIC, BVSN

ROSG

ROSG spiked nicely today as predicted after my 5.26 entry, spiking to 6.1 within 30min of market open with news of a new addition to management. I am still holding all my position from 5.26 as this thing will only continue to rise with upcoming news. Look for a second spike at 5.48 if not then 5.35 for sure. Could hit 6.5+

PGNX

PGNX has been dropping for weeks. It finally got some good news about its advancing one of its drugs into Phase 2 clinical trial; this should be enough to start the rebound which has already started as it gained over 8% today. Tomorrow could be a nice revival pattern as it could spike thru EMA20. Has alot of upside for even a swing trade.

LPHI

LPHI is due for a rebound as short must cover; it's already showing signs of a rebound as it's hanging about key res at 2.14 range which is what i'm watching with natural res at 2.25 as confirmation. Could hit 2.35+

CTIC

CTIC is also due for a rebound as short must cover; it's already showing signs of a rebound as it's hanging about key res at 1.4 i'm watching with 1.5 as confirmation. Could hit 1.8

BVSN

BVSN has been very spikage with volume lately as if its bottoming and ready to go bullish. It has 3Q fiscal year report coming ahead so this could explain the volume spike on no news. So I am def watching this as it could find bottom here as it hangs about key res 8.48. I am watching it pattern between 8.5 and 8.8. Key res at 9.26 with trendline res overhead. If it could rally a short squeeze Friday then it could run nice esp if it can break trendline res just above key res 9.26.

Trading Tips
(1) Mornings (9:30-10:30am) and end of day (eod, 3:00-4:00pm) are the only time you should be entering any trades on the long side. Shorting is mostly midday.
(2)I usually like to buy after a long candle stick thru (and closing above) the levels I'm watching.
(3) Look at multiple time frames; i usually look at 5min and 30min, sometimes 15min.

Happy Friday, happy trading, good luck.
-Ra