I’m constantly on the hunt for solid swing trades like AMR, BWEN, CTIC, CLWR, DHT, EK, FTWR, PPHM, SAPX and TLB. Normally I try to position before the move like I did with HDY recently at $3.06 before it ran about 30% the following day, however, sometimes swimming with the current is an easy way to grab quick profits too. Swing trading, for those of you who are unaware, is a speculative activity where stocks are repeatedly bought or sold at or near the end of up or down price swings caused by price volatility. A swing trading position is typically held longer than a day, but shorter than trend following trades or buy and hold investment strategies that can be held for months or years. In this edition of running with the bulls my filter for the stocks on this list is between $.25 and $3 with 300 trades or more the day before. The following stocks could deliver some decent profits moving forward if they continue so here’s what I’ll be watching for.
AMR Corp. (NYSE:AMR) operates in the airline industry. AMR recently filed for Chapter 11 i.e. bankruptcy. Shares fell from $1.72 to $.20 but have since bounced 250% in just over a week, something day and swing traders are attracted to. Technically, now that the price is working into the gap down it’s anyone’s guess but entry with a stop just below $.65 could be worth the risk if it climbs another quick 20% or more from here. Resistance is definitely at $1.63 and considering the circumstances I’m not sure it’ll test that point again.
Talbots Inc. (NYSE:TLB) operates as a specialty retailer and direct marketer of women’s apparel, accessories, and shoes in the United States and Canada. Shares where flying Monday on an unsolicited letter from Sycamore Partners proposing to acquire all outstanding common stock for $3.00 per share. I’m looking at the level II which reads $2.50 x $2.75 right now so it’s anyone’s guess from there but if you like running with a bull and the offer is accepted there might just be a $.25 to $.50 cents per share opportunity still on the table. Watch out however if worth comes out that Board isn’t interested because then TLB moves to the short list.
Peregrine Pharmaceuticals (NASDAQ:PPHM) is a clinical stage biopharmaceutical company, engages in the research and development of monoclonal antibodies for the treatment of cancer and viral infections. Shares of Tustin, California-based Peregrine ran over 50% Monday when their experimental lung cancer therapy reduced more tumors than standard treatment in a mid-stage study, a major step forward for a drug that may one day compete with Roche’s top-selling Avastin.
DHT Holdings Inc. (NYSE:DHT) owns and operates a fleet of double-hull crude oil tankers. I didn’t find any news on this one but the volume definitely caught my attention. Short interest is only 5.16 days to cover since the last settlement date on 11/15/2011 and while that may have grown and played a role in this move I don’t think it would have been the underlying cause. Nevertheless it appears resistance would come into play around $1.20 followed by $1.60 so there is still room to move should it continue up this morning.
Seven Arts Pictures Plc. (NASDAQ:SAPX) operates as an independent motion picture production and distribution company. I’ve traded SAPX before and this is exactly the type of price action that has led to some solid runs recently.
Clearwire Corp. (NASDAQ:CLWR) provides wireless broadband services. Clearwire got some love from Sprint recently and now it’s trading like a beast again. Pretty good short interest at 7.19 days to cover per the last settlement date 11/15/2011 but I’m pretty sure that’s thinned out a bit during the recent move up.
Cell Therapeutics Inc. (NASDAQ:CTIC) is a biopharmaceutical company, engages in the development, acquisition, and commercialization of drugs for the treatment of cancer. FDA sets an April 24, 2012 date as the PDUFA goal for CTIC’s resubmitted Pixantrone new drug application and the runup is on.
Broadwind Energy Inc. (NASDAQ:BWEN) provides products and services to the energy, mining, and infrastructure sector customers primarily in the United States. A little bit of this, a little bit of that, mix in an article on TheStreet.com and BWEN is off to the races again. This one’s choppy so your entry and exit is key to success swinging it.
Eastman Kodak Co. (NYSE:EK) provides imaging technology products and services to the photographic and graphic communications markets worldwide. EK has reportedly shuffled its restructuring advisers in its battle to shore up its finances and steer clear of bankruptcy but traders aren’t buying it yet. It is starting to creep off the $1.02 low I like this price action. Swung it recently for a small loss trying to time a potential pop but it continued down. This is a stock that could erupt on good news or fall to $.50 if they announce anything about a bankruptcy so buyer beware there’s volatility in the air in Rochester, N.Y.!!!
Fibertower Corp. (NASDAQ:FTWR) provides facilities-based backhaul services to wireless carriers in the United States. FTWR took a hit recently when they reported a slew of bad news in the middle of November but shorts overstaying their welcome and dip buyers seem to be driving the price back up here.