Monday, March 11, 2013

03/11/13 Monday Watchlist (11 stocks)

Market: The market is breakingout into new highs as it anticipates the Retial Sales reports next week. If the sales are good, the market will boom like ever before, if not then it could top sooner. Until the report, be bullish and bearish to over-extensions. But since the market has been green 6 days in a row, you can expect today to be red.

My strategy is mostly daytrading and short-selling but I will buy good set-ups for day- or swing trade only in a bull market. Today is Friday so I will be more bullish today.

Short Watch:

MTG (overextended, i'm short 4.92)- this stock is one of most over-extended on the market. it started cracking supp on Friday and could possibly morning panic, which is why I shorted premarket.

ASTX (overextended) - potential short on the next spike. Looking for top near 4.6/4.9 res zone. If it holds above 4.6, vol must fade.

HIMX (seeking alpha hype)- is up on a Seeking Alpha article. 4.69 is key res.

BWEN (ill-financial)- still holding up over 3.90 supp. potential short when 3.90 cracks, ideally after a spike.

Long Watch:

AAMRQ (airline deal, i'm long 3.0)- I bought the gap-up on Friday but it seems overextended as vol is fading a bit. It may need to dip so I may sell at the open for profits and rebuy later when it repatterns

IMMR (Samsung deal) - this still is breaking out on a big deal w/ Samsung. Potential bought if it can morning spike. It has one more neg in it but I wouldnt hold too long as it is a bit over-extended. Upside to 10.3

AMRI (earnings winner) - potential buy if it can breakout and run from 10.0. Upside to 11

XIN (earnings winner) - Earnings winner. Im watching 4.85 key supp for dip buy entry. or 5.14 intradday pivot for breakout.

BIOL (earnings winner)- I am watching 4.07 for bottom but am really only interested in the 4.90 breakout when it patterns.

MERU (earnings winner) - earning winner. no play until it breakout 5.0 key res.

GEVO - earnings winner that has momentum to rebound. watching 2.05 for momo but no play until 2.21 key res breakout.

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