Tuesday, December 18, 2012

12/18/12 Tuesday Watchlist

Started with a $2,000 on 6:1 margin ($12k buying power) in December 2012. Now at $9,840 (+490% wrt cash, +80% wrt buying power).
Friday: -$47
December: +$7,790 

Market: $SPY is breaking out 143.6 res and is now headed to test 52wk highs near 146.5 res. The market should be bullish until it tests that res, so be bullish and appropriately bearish.

Long & Short Set-ups for Today:

CBMX - i took a small position (300 shares) at 6.35 and will continue to accumulate until the squeeze or PR (which ever comes first). It may have to dip to 6 before squeezing thru key level 6.2.

AMBS - setting up for a nice run today. I am back in at 0.55 30k shares. It has now up 54% since my initial breakout buy alert at 0.37 (now at 0.57). It has upside to 0.069 which it could breakout as it is still being promoted by newsletters and judging from the sustained vol.
JVA - could turnn into the play of the week. It is a recent earnings winner that beat estimates by 1800% with an eps of 0.19 (vs. 0.01 est). It has a clean chart pattern with lots of supp underneath. I see this thing hitting 8.5 this week with upside to 10 swing.

LIVE - purely technical squeeze (like GTIM) that is breaking out. look for a dip buy above 5.1 with upside to 6.6

CRME - as i expected, it dipped to 0.45 to consolidate before spiking to retest 0.51. still a potential dip buy above 0.51.

MTSL - @super_trades is doing a good job with this pump. watch for breaout at 3.99 res. potential dip buy above 4 with upside to 4.6+ as it hits new highs

Set-ups for the week:
These stocks are still midrange so let them to test res or crack supp. Let them pattern, don't be aggressive and short too quickly in this bull market (learn from my poor performance yesterday by being aggressive). Focus on perfect set-ups and timing, or else you reduce your odds/winning percentage. The will all be great shorts eventually, so be bearish, however don't hesitate to buy any perfect breakouts as they spike towards res because we are in a bullish market week. USGT is the other pump I'm watching this week.

CLDX- short 6.55 supp crack. still has upside to 9.01 if it finds supp above 6.55
TROV- breaking out into new highs. so wait for it to test res at 6.7 for potential short
EJ - wait for it to crack supp at 4. if it finds supp above 4 then wait for 4.6 test
QUAD - could breakout 19.5 with upside to 21.4 (potential short there)
ROSG - wait for fade under 4.20 to short
SQNM - let it pattern for 4.51 supp crack
BIOF - wait 4.36 supp crack
UEPS - wait for 4.83 crack or top at 5.9
TSL - potential short 12/19

USGT - sustaining breakout vol, just wait for the 0.67 breakout for a dip buy with upside to 1.05

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