Tuesday, February 26, 2013

02/26/13 Tuesday Watchlist (11 stocks)

Market: $SPY tanked terribly on Monday. Not sure how much it will recover from that but it could still bounce before more consolidation/tankage.

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

Short Watch:

RSOL (ill-financial, i'm short 2.29) - this stock is worthless and has low short-interest. I shorted the weakness on Friday but w/o surprise it held up on the green market Friday. It's still holding up as it tests ema7 and could spike a little as some impatient shorts cover. I will add to my short if it spikes to towards 2.5 res. Potential downside to 1.75

SQNM (ill-financial, i'm short 4.22) - faded nicely into the close. Potential morning panic or reshort on a bounce.

EDAP (seeking alpha pump) - this technical b/o was caused by a well-timed seeking alpha article and will crash big once the hype/vol fades in the next few days. I want to bank big on this one as it could crash and then fade over multiple days.

LCAV (ill-financial) - this stock is complete crap w/ a nice technical breakdown set-up. It was a great short near 3.0 res for solid r/r but I had too many trades already open to trade it. It could morning panic to crack trendline supp. Potential short into panic or on next bounce.

CSIQ (ill-financial) - this stock is decaying financially and it has vol, which is a sign it will start breaking down like HOV. This also behaved as I called it on my watchlist. It gapped up w/the market which was great b/c it quickly became overextended and cracked. Could morning panic but its a potential short on any decent spikes.

EJ (ill-financial) - this is crap. this was also predictable as it bounce started to fade. Hoping for another bounce to short. Some res about 4.6 but 4.28 is key supp which could get cracked on the way down.

MBLX (over-extended) - this is still spiking on no news. It cracked abit on Monday but is still holding above trendline supp and at ema supp which means if this squeezes w/ the market it could spike, which I would love to short.

HOV (ill-financial) - I shorted this at 5.46 but covered to soon as it dropped 13cents more after I covered at 5.33 and could morining panic along w/ SQNM and the housing sector. Potential short into panic or on the next bounce. This stock is choppy and I will leave it alone after this big crash that could come this week.

Long Watch:

CCUR (promo stock) - this pump is the only thing I'm willing to buy in this market. No play until it pattern for 8.0 b/o. I may buy the bottom if it patterns properly.

Swing Watch:
While I believe these stocks will recover nicely, it is tricky to buy in this market. I would wait until the market starts to bottom before entering above supp/res.

JVA (rebound) - I'm a sucka for this stock for 3 reasons: (1) solid financial growth/undervalued; (2) lots of shorts; (3) great chart.

GEVO (rebound) - is recovering given the QoQ eps growth and the vol.

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