Thursday, March 21, 2013

03/21/13 Thursday Watchlist

Market: SPY could still go either way at these levels. Its a matter of bears vs. bear trap. But current price action is still bullish.

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:  Lots of good set-ups for today and Friday

ENPH - I sold this on Tuesday when the market was red but did not trade on yesterday's bull market and missed my reentry. Sometimes you just gotta be patient in this bull market. It is finally well above 5.85 and testing 6. Potential buy above 5.85 key supp. We should see 6.7 soon.

GEVO - is a former earnings winner/growth stock that just won an patent infringement case. This stock is due for a rebound and finally has the vol to push forward. I called the gap and crap following the a/h PR. 2.03 is key supp but 2.21/2.25 is the breakout of interest.

MERU - is trying to find supp at 6.3 as it consolidates above it. Potential buy in green market.
test key res at 7.3/7.4

AMRI - seems to want more as it's holding up above 9.67 as it consolidates from the predictable big cracked I shorted. Potential buy above 9.67 upside to retest 10.9/11.1 res zone.

NQ - is testing under 9.34 key res. Potential buy on the breakout, upside to test 10.75 key res. upside to

Longs On Alert
PGNX - is a little extended as it tests under 5 key res. Potentials buy when it b/o 5.03. upside to test 5.5 key res. 5.5/5.7 is key res zone. big upside when it breakouts thru this zone.
KWK - has consolidated/faded to retest 2.4/2.5 key supp where it should find supp. Potential buy when it patterns to b/o 2.68 key res.
DRL - 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.
BIOL- is still holding well above 4.04 supp but is midrange. It still has potential upside to restest 4.9 key res. No play until it repatterns
REVI (The Bull Exchange pump) and GOFF (Awesome Penny Stocks pump) - GOFF is still patterning. I am watching REVI for a potentail dip buy here at 0.10 prob supp.

Short Watch:

FNMA/FMCC - have both spiked too much. Potential short if they top at 1.18/1.25 key res zone.

UNXL (over-extended)- is still trapping shorts as it hits new highs again. This could drop 30% or more when it tops. No play until a big crack.
CZR (ill-financial)- is still testing 17.9/18 key res. It's still toppy but could go either way as the market is still bullish. Potential short under 17.9 in a bearish market. I expect this to drop 30% or more from its highs once it tops.
GV (over-extended)- is still trapping shorts as it hits new highs again. these breakouts outs are potential scalps but I prefer to buy good stocks that are breakingout over crap stocks.

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

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