Tuesday, March 19, 2013

03/19/2013 Tuesday Watchlist

Market: SPY could go either way at these levels. Its a matter of bears vs. bear trap.

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. Play the market according to its sentiment (red/green), be bearish on red and bullish on green.

Long Watch:

ENPH (earnings winner, i'm long 5.65) - consolidated w/ the market but is holding above 5.5 key supp. If market stays bullish I plan to sell into the next big spike towards 6.7 key res test. Im selling if market goes bearish.

KWK (earnings winner) - consolidated w/ the red market. I sold as you never know if it will hold up. Its still holding about 2.68 supp. Potential buy.

PGNX (earnings winner) - morning spiked as expected but only to consolidate midday w/ the red market. Its still holding above 4.35 supp. Potential buy.

Longs On Alert
RFIL (earnings winner) - seems to have dip buy supp but as I said it 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. not sure if this has bottomed at 0.64 as I anticipated or if it wants lower. Too midrange now to do anything. let it pattern first.

REVI (The Bull Exchange pump) and GOFF (Awesome Penny Stocks pump) - these are pumps by top tier promoters. Their pumps tend to hold up and spike for several days/weeks esp in a bull market. I plan to buy these on a big dip when they patterns. These plays are how you bank 20-50% on a single trade.

Short Watch:

UNXL (over-extended)- this stock has seen way too much growth in just a few months. this is mostly hype and momo, in other words there are alot of weak hands holding this stock. Potential short if it tops here in the 27.5/29 range. This could drop 30% or more when it tops.

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

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. Im also watching 4.8 for a top if it spikes more.

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. 6.5 is also key res in case it squeezes more shorts in a bull market.

Momo Plays
Follow me on stocktwits (@sickledsystems) for momomentum plays, which I usually find on Finviz.com

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