03/15/13 Friday Watchlist (7 hot stocks)

Market: The market is still bullish. Be bullish but bearish to over-extensions.

WATCHLIST

My strategy is mostly daytrading and short-selling but in this market 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.

Long Watch:

ENPH (earnings winner, i'm long 5.65) - this is spiking w/ momo. i bought this just above 5.5 key supp. i plan to sell into the next big spike towards 6.7 key res to test.

KWK (earnings winner) - this is clearly breakingout. 2.68 and 3.09 are key. I want to buy on a dip/during consolidation above supp and sell into a spike.

RFIL (earnings winner) - has low short interest so I wouldn't buy this midrange, only at key supp 5.7. upside to key res at 6.5

BIOL (earnings winner) - this is hanging just under key res at 4. if its gonna do anything it'll be tomorrow on a Friday squeeze. no play if it doesnt breakout tomorrow. upside to 4.8

DRL (earnings winner) - just reported eps 0.20 while its trading under a dollar. ridiculously cheap. I expect alot of big time dip buying (meaning vol accumulation). No play until it bottoms between 0.62/0.66. upside to 1 short-term.

Short Watch:


AMRI (over-extended, im short 10.68) - I covered my 10.85 short too soon but got back in when it failed r/g test. I plan to cover into a morning panic quickly.

MTG (over-extended)- has been hanging about 5 thanks to dip buyers but is finally failing it. This should drop 50cents or more soon. I'm waiting for 4.90 to crack.