Wednesday, November 14, 2012

11/14/12 Wednesday Watchlist

$SPY looks like it may continue sideways  until it cracks. Still short-biased in this market but I will buy the bottoms of earnings winners and I will buy pumps.

Earnings Winners

JVA - I am still holding my 6.68 position even tho I coulda shoulda woulda sold into the gap-up to 6.95 yesterday when vol was absent but I didnt so I will hold and avg down as it patterns. Still watching between 6.27 and 6.41 key levels.

SYNC - Vol is picking up here just under 4.77 pivot. Its waking up but the question is is it bottoming or will it panic. No play until 4.77 breakout on volume.

GALE - I believe it has more upside so I'm watching 1.72 for vol.

ZAZA - this prolly has the nicest chart on the market with a catalyst. Key res at 2.19 and 2.83. Its too much off its bottom and middrange now. It's breaking out so I will wait for it to find supp at 2.19 for a nice rally toward 2.83.



Earnings Losers

CYTX - now faded 40cents off its high's and 20cents down from when I called it a short under key res 3.86. Still a short on any bounces.

SNSS - is over and trying to find supp at key 4.29 and still perking up just as I warned it could given the 40cents trendline channel it bounced off of near 4.1. Key res at 4.86 where I expect it to top.

DGIT - first red day yesterday but it did push to close over key level 9.92, so I wouldn't short until it cracks at 9.92 with some vol.


Pumps

SANP - I am not touching this until it breakout 2.0 if it can.

GRZG - is patterning about 1.50, I am now watching 1.55 for new highs before entering.

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