Wednesday, November 28, 2012

11/28/12 Wed Watchlist

$SPY has been holding up since last week leading into the holiday. Not sure when it will turn but it has tested and failed res at 141.5 and is gapping down into gap fill premarket today. I expect more fading today but be prepared for the reverse.

Short Setups
Good news is that SureTrader is changing to a new clearing firm which would "more than double short availabilites." This is awesome as there could be borrows for more ideal set-ups. The change goes into affect next week Dec 3rd.

VVUS - thsi stock just keeps holding up perhaps in anticipation of PR/news. I will not short this aggressively, instead I will wait for technical breakdowns/panics. Key res zone 12.4/12.8 and key supp 10.25. EMA20-daily is also significant.

GMCR - earnings winner that is gapping up over 20% premarket, could get ove-extended quickly for a short scalp.

ACAD - one of most over-extended stocks on market. potential short on any spikes towards but under key res 6.25.

Long Setups

PWEID - pump bounce on watch. I scalped it yesterday for a net $150 and plan to do so if it can hold and bounce here above 0.35. Next potential bounce at supp 0.22.

SVEN - this is the new APS pick released yesterday. A potential buy on any major dips (or washout).

 GRPN - could test and pop thru EMA20-daily today.

JVA - former earnings winner down from highs and gapping on GMCR (big earnings winner) sympathy.

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