02/19/13 Tuesday Watchlist (13 Stocks)

I've been too busy with life and focusing on trading to keep up with the blog and uploading my trades. But I am back by popular demand for my real-time updates. From now on, I will be sharing only trades from my watchlist. Enough said.

Market: $SPY continues to squeeze into new highs w/ very choppy price action as it pushes to try to b/o. We are clearly in a bull market, which means many things will get over-extended as they spike higher than they should on momo.

WATCHLIST

My strategy is mostly daytrading and short-selling but I will buy good set-ups for day- or swing trade.

Short Watch:
BIOF (over-extended) - this will fade nicely. I think it has more upside before patterning to crack. This is only scalpable as it has potential upside to 10 if it patterns properly w/ the bull market.

SIGA (over-extended) - scalpable for 20cents downside. possible morning panic or bounce to retest 4.0 before dropping. 3.75 is key supp

HOV (illegitimate stock) - I've been shorting this stock since 7.4 where I called the top and said it would fade all the way to 5 or lower. It's the 5s but I think it will keep fading because it technically belongs in the 4s. The intention is down so I expect this recent technical spike to top and fade and crack key supp at 5.50 again. Could crack early this week.

AAMRQ (over-extended) - this will be the hottest short soon. just watching it pattern on the 30min candle, and for vol fade on 5min.

Long Watch:

GRPN (technical b/o) - this is perking up w/ vol to test 6.0 for a possible b/o to 7s. Earnings scheduled for 2/27 may be causing the run-up.

YFRM (promo stock) - i am watching this pump for a big dip buy entry. Plenty of upside if promoters continue to hold it up.

CCUR (promo stock) - this NIA pump is nearing the end of consolidation. this should bo 8.0/8.16 res zone soon. This is a good swing trade but I plan to just day trade it as I am always afraid of the promo being exposed o/n. I trade scared when I buy pumps.

Swing Watch:

QLGC (I am long 11.73, 200shares) - bought this earnings winner pre-momo  on a bullish pattern in anticipation of 12.0 b/o, which i plan to sell into.

GTIM (I am long 2.88, 400shares) - bought this technical set-up on strength in anticipation of a 3.07 b/o possibly on recent news sentiment. I will sell soon if it doesn't b/o early this week.

QTM (earnings play) - this is my next earnings play on watch for swing. It's revived 1.36 key supp, so it could start perking up from here. I may enter today.

VRNG (technical squeeze) - lots of hype/chatter/volume around this stock as relates to its patent case against GOOG. Not sure what the true sentiment is (negative or positive) but I don't care. All i care is that there is vol/hype and that it could hit its squeeze trigger at 3.25/3.35 res zone. Key and solid supp is at 3.10. I put this as a swing trade because it could spike quickly and out the blue any day. So if it dips a bit, I will look to enter near 3.10 w/ a tight stop.

CERP (rebound) - this OTC is a real company that is going thru a major turn around w/ new executives and revenue streams. This stock is on its way to 0.20 short term and over a dollar long-term, technically speaking. No play until it patterns to b/o 0.05.

CRME (rebound) - this stock has also turned around financially particularly after $MRK forgave its debt (which was the reason it dropped from 2 to a quarter back in March 2012). Undervalued form $2. No play until it closes the day above 0.50.