Sunday, March 17, 2013

03/18/13 Monday Watchlist (10 stocks)

Market: The market is still bullish as it seems to be holding up against the negative consumer sentiment. Still be bullish but bearish to over-extensions.

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, long 2.73 avg) - this is clearly breakingout. 2.68 and 3.09 are key. I bought 2.68 revival eod after midday consolidation just before the high vol run-up into the close. I plan to sell into the next spike towards 3.09 res.

PGNX (earnings winner) - is breaking out on big earnings win. I tried buying the 4.35 b/o but sold as vol faded midday and it didn't run into the close. Potential buy as it could still gap or morning spike on Monday once it finds supp at 4.35. Upside to test 5.

RFIL (earnings winner) - has low short interest so I wouldn't buy this midrange, only at key supp 5.7 or 6.5 b/o.

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 a dollar, short-term.

Short Watch:

MTG (over-extended, short 4.96)- has been hanging about 5 thanks to dip buyers but is still failing it w/ fading vol. This should drop 50cents or more soon. I'm waiting for 4.90 to crack.

GV (over-extended)- seems to be topping. potential short soon especially when it cracks 4.38 key supp. downside to 3.9/4 to test.

BWEN (ill-financial)- this stock is also crap. Energy is hot its been trapping shorts, who are responsible for it spiking this much. Don't be aggressive. Potential short soon. 6.2, 5.2 and 4.7 are key levels to watch.

CZR (ill-financial)- this stock is complete crap but is spiking on hype around new gambling laws. I expect this to drop 30% or more from its highs once it tops. Key res zone at 17/18.

OWW (over-extended)- this is another entertainment stock spiking w/ the sector. it was a former earnings loser and deserves to drop back to the 4s. 5.8/5.7 is key res zone. 5 is support.

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