Wednesday, February 27, 2013

02/27/13 Wednesday Watchlist (12 stocks)

Market: $SPY is still bearish but could always bounce. As always play the sentiment (red/green).

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

Short Watch:

LCAV (ill-financial, I'm short 2.85) - 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 shorted at 2.85 in anticipation of it cracking. My position is terrible because 2.85 is key supp. I havent covered b/c its under alot of res and vol is fading. It could crack if market starts tanking, otherwise I will cover and reshort.

*EJ (ill-financial) - this is crap. the bounce is fading under 4.5 res. 4.25 is key supp which could get cracked on the way down. this is a morning panic watch.

EDAP (seeking alpha pump) - Spiked a bit on Tuesday. Potential short in the next few days.

AAMRQ (over-extended) - potential when this bounce tops.

RSOL (ill-financial) - this stock is worthless and has low short-interest. I covered into the bounce because I lost patience. This is a potential reshort. Downside to 1.75

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 big, which I would love to short. But I wouldn't short at these levels. 2.16, 2.37 and 2.57 are key.

SQNM (ill-financial) - faded nicely as I covered my 4.22 short at 4.0 supp for 100bucks. Key supp at 4 is holding up, so no play until it cracks 4 on the 30min chart or bounces big.

HOV (ill-financial) - Spiked big as it could not crack 5.19 and housing sector spiked. All these big spikes are potential shorts when they top b/c they breakdown. Earnings is on 3/6/13 so I wouldn't short it if it holds above 5.50 going into that week. This is part of the reason why I want to leave this stock alone and focus on easier plays. 6.12 is res

*On watch for morning panic

Long Watch:

CCUR (promo stock) - dip buying seems to have begun. this is a potential buy when it b/o 8/8.16 res zone

CSIQ (ill-financial) - this stock is crap and is a short on any big spikes. However, it released news this morning as it holds above key supp 3.80. I would not be short here as this could spike big on this Sales Agreement news. It's a potential buy (only for the news) if it patterns and finds supp at 4.

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. No play yet let it pattern w.r.t the market

GEVO (rebound) - is recovering given the eps growth and the vol. No play yet, let it pattern.

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