Thursday, December 6, 2012

12/07/12 Fri Watchlist

Today: +$319
December: +$753

$SPY is doing more of the same: fade then spike. Tomorrow is Friday which are known for short squeezes. So I expect some spiking tomorrow, possibly a morning market spike.


Short Setups
SQNM - I completely nailed that morning panic for +$190 by shorting into the close on the first red day which was followed by a gap-down and morning panic. I held my short despite the fluff news release but it rebounded very quickly after finding supp at 4.3, probably due to traders dip buying the fluff news. It just released PR about the company being issued a patent. A potential reshort but only with fading volume.

EBOD - sketchy Chinese stock thats up alot due to Seeking Alpha "pump" article. Hardly has any short interest so I don't see it spiking much more, therefore, it could crack supp at 3.5 where its a good short.

VVUS - I think they are done squeezing as it faded nicely today with much less bounce. 10.5 is very important supp thats why I am waiting for it to crack before shorting it into panic selling.

ACAD - is trying to squeeze whatever shorts are left so its not patterning exactly as imagined. I am hoping for a morning panic to short into, otherwise it could consolidate until it finds support.

Long Setups
MITK - is breaking out on US Bank ($USB) partnership. This stock has a high short interest (13 days to cover) and will most likely squeeze shorts and spike until it can't squeeze anymore. I will buy on a morning dip and sell into a morning spike. Res at 4.3

CORT - Is a recent earnings winner down alot since earnings and has a fairly high short interest (8 days to cover). Its hitting new highs as shorts get squeezed. I missed the morning dip buy at 1.6 supp but I bought at 1.73 for a midday perk-up but it just consolidated so I sold 1.76 for lunch money. A potential dip buy at market open.

Its holiday pump season. We have four (4) top tier promoters pumping at the same time. This is lovely.

PFNI (I am long 0.465 2k shares) - this is pump by SMA. I bought on a small dip at 0.46 res turned supp in anticipation of an eod rally, which never came (I assume traders were distracted buying PBCW eod instead). I am still long in anticipation of a gap-up because it closed at hod.

PBCW - this is pump by PPS. It panicked in the morning as I expected but unfortunately SureTrader didn't have borrows to short it. It bottomed at 0.1 but I didn't buy because I wanted it to drop a little lower, so i missed the opportunity by being too conservative. Still a potential dip buy once it breaksout into new highs.

SVEN - this is pump by APS. Still a potential dip buy above 0.27 or after it breaks out into news highs.

LVVV - this is a brand new pump by TBX. I bought it out the gate and sold quickly as it was over-extended and banked +$185. A potential dip buy above 0.161 with upside to retest its highs at 0.22

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