Wednesday, December 26, 2012

12/26/12 Wednesday Watchlist

I started with a $2,000 on 6:1 margin ($12k buying power) in December 2012. Now at $11k (+600% wrt cash, +100% wrt buying power). My system is Sick!
Monday: +$160
December: +$10,210 

Market: Expect a bearish market into the new year as tax-loss selling and negative sentiment around the Fiscal Cliff drives the market downwards. Be bearish.

Short Set-ups
VVUS - still has downside to 12.5 with fading vol. potential short on any big spikes under 14.
EJ - still squeezing. some res at 4.4, key res at 4.6
ONCY - without news, this will likely tank some this week. downside to 3
TROV - patterning nicely. potential short under 6.6
DYNT - don't be aggressive with low floats. its holding above 3.25 key supp so let it squeeze first. key res at 4.45

CLSN - over-extended on the intraday chart. scalpable for about 30cents or so. key levels at 7.6 and 9
CTIX - the most over-extended stock on the market, with more than 20% potential downside. only res is trendline res and natural res. could top here at 2.25, if not look for 2.5

Long Set-ups
CLWR- waiting for it to bottom. has plenty of upside swing. I plan to swing it. supp at 2.7, res at 3.2
EDAP - big time earnings winner that is breaking out. potential dip buy above 2.15 upside to 2.5 swing
USGT - finally hit new highs potentil dip buy above 0.7 if it can find supp at 0.69
AMBS - now up 105% since my dip buy alert at 0.37. it is still hitting new highs and there is still alot of message board chatter. potential dip above 0.07 with upside to 0.1

Happy trading.

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