Thursday, November 8, 2012

11/08/12 Thursday Watchlist

I had some long set-ups but the market is at a pivot and since Obama is appearantly bad news for the stock market we may see a panicking market any day now unless there is good economic news . See $SPY below (notice the big volue spike yesterday at the pivot 139.4):
So I will remain short-biased in this market and focus on short plays and buying good pump bounces or b/os. I am still too broke to short most pump-n-dumps so I'll be looking at good microcap stock set-ups like: CLWR, SVU, and ELAY

CLWR (over-extended top, short) - just recieved an upgrade this morning but I don't think there will be a rally off that but volume is key. Short any spike under res 2.21. I am still short 2.19 will cover near 2.

SVU (over-extended top, short) - is an over-extended earnings winner thats due for some consolidation. short any spikes under key res zone 3.10/3.13.

ELAY (pump rebound) - watching volume and message board chatter before entry. keeping 0.0022 on watch. Very illiquid until breakout so I will only play 300 bucks.

Trading Tip: Look for tops at key levels and always cover on sustained volume spike.

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