INVE should be a prime target for a scalp this morning. Shorts kicked the crap out of it last week after it spiked just short of $6.00 but they’ve dropped some strong news this morning and you can bet rookie short sellers will be running for the hills which should cause a solid short term spike. No price targets on scalping, nor will I send an alert. This requires Level II and a 1 minute chart to pull off, so far I am 1 for 2 scalping INVE… hope to make it 2 for 3 this morning.
CEU is a stock that kicked me hard when they pushed back their conference call a few weeks ago. I was bullish on CEU as most of you know hoping to cash in on the China smear that is occurring. Well, over the weekend they dropped a 10k and most everything in it looks good to me like wrapping up 2010 with $71.1m in cash and zero debt or $2.25 per share in cash value. Rev’s up 25% over ’09 and the list goes on and on. Sure wish I had made it through the previous stop loss because I’d be around to see some upside here but oh well. I’ll keep it on watch today for no other reason than I knew I was right and would like to see how it trades, probably not considering a position though.
Still looking for entry on PLPE in the low $.80’s and waiting for liquidity on LQMT before grabbing shares there. If LQMT starts to accumulate higher on light volume I’ll grab a starter position.
Finally, I’ll be opening a few new brokerage accounts so I can find shares of stocks like LEXG and ALZM to short… we played these guys for profit during their run up and making money on their decent can be just as predictable, just much harder to find shares and E*Trade isn’t a good tool for shorting these pieces of shit. I’ll keep you updated regarding the brokers I choose. If you have an account with shares available, start zooming in on LEXG because a near term dip is inevitable. It may climb to $3.00 still but the flush is coming and timing the short properly can lead to easy and predictable profits.