Thursday, December 20, 2012

12/20/12 Thursday Watchlist

Started with a $2,000 on 6:1 margin ($12k buying power) in December 2012. Now at $9,775 (+490% wrt cash, +80% wrt buying power).
Tues & Wed: -$65
December: +$7,725 

These past couple days were very undisciplined for me. Although my watchlist is filled with perfect plays, they are patterning and I have been too impatient as I have been trading alot of speculative plays and shorting too aggressively, esp low floats, which is hurting my winning percentage. As Tim Sykes always says, focus on the good plays.

Market: $SPY seems to be reaching the end of its holiday short squeeze. We could still see more spikes as it squeezes remaining shorts but it could consolidate as well this week. I am trading according to the market's sentiment (bullish or bearish). I am prepared for both.

Perfect Shorts
These stocks will eventually drop with little supp esp on fading vol. You never know how far these things will go so you just have to prepare to short them after a failed squeeze under key res.

VVUS - fundamentally poor. i shorted at the very top 14.13 and took profits in the mid 13s and still holding 500shares short from 14.13. I will add on any spikes under 14.1, still has potential upside to 14.3/14.4 so be cautious.
UEPS - fundamentally poor. potential short on the next spike. could be a small spike b/c vol is dry.

BOSC -manipulated run-up. its trying to find supp at 7.68, has upside to res near 11.
AMPL - manipulated run-up. could still squeeze to retest 3/3.25 res zone. next res 5.1
GBR - manipulated run-up still running. res at 1.9 and 2.5
DYNT - manipulated run-up still running. res at 3.25 and 4.5

Long Set-ups
TROV - is breaking out into new highs and just got news this morning. Supp at 6.66 and the sky is the limit. I will be looking to buy a perfect breakout.

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