Friday, November 16, 2012

11/16/12 Friday Watchlist

$SPY is basing near key supp at 135 for a possible overall market spike today which could trigger short squeezes as heavily shorted stocks hold up. I am not sure which stocks will squeeze today but I will be looking to short any failed squeeze attempts on fading vol. My odds have not been that great buying dips and bottoms in this market so I will only buy breakouts. And I will be focusing mostly on shorting good set-ups like CYTX, SNSS and DGIT.

Short Set-ups
These set-ups are great put hard to borrow at ST.

CYTX - now down 50cents since it cracks key supp. it spiked yesterday before fading nicely but there were no borrows at ST. still a short on any spikes. Has plenty of downside with checkpoint at key supp 3.07

SNSS - now down 40cents since it cracked key supp 4.29. it spiked and started fading yesterday but no borrows at ST. downside to pivot at 3.12 with key supp at 3.52 as checkpoint.

DGIT - cracked 9.92 as I expected and faded 30cents for a true first red day. downside to 8 with checkpoints at key supp 9.10 and 8.45.

SQNM - i would only day-trade this one because you never know what will happen o/n after insider buying.  it will give the most when it takes out its lows and key supp at 3.49.

Long Set-ups
These stocks are all potential Friday short squeezes as they are way off there highs and particularly SYNC and JVA since they are earnings winners that could find support at any key levels.

SYNC - has vol and seems to be bottoming. i still have a small position at 5.14 and will average down once its actually bottoms. key levels at 4.77, 5.17 and 6.20

JVA - I am still long 6.68 (which was a bad trade) and will average down once it bottoms. still no vol to indicate a bottom yet but I am watching supp at 5.99 and key supp at 5.74 for vol.

ROSG - I am long 4.02 in anticipation of a gap-up and morning spike (perhaps even a Friday short squeeze). this stock repeats itself and i've nailed it many times when it patterned like this. Has 50cents of potential upside

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