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3 Jun

Watch List For Friday June 3, 2011

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Lots of red this morning, might be a better day to get outside and do some gardening but you know where I’ll be.

ZLCS is a past winner and looks very good here. Entry would be above $2.70 with a goal of $3.00 – $3.20. Support at $2.60 makes for good risk reward.

We’ve nailed LOCM for wins three times now and today could be the fourth. The Groupon buzz is getting active and the 1 minute chart from Thursday shows you exactly what that can do when shares went parabolic in the afternoon. Entry in the $3.80’s with a goal of $4.25 is very realistic today but you need to be on top of it if and when is squeezes again because it’s a short lived opportunity.

DRYS market cap is over a billion, but his upgrade from Goldman will definitely have a solid impact. Goal is above $4.10 and before $4.50 short term. If you wanted long term I’d say watch for resistance around $4.80. Either way the range is solid here and I think the $4.00 range should hold as support so good risk reward in my opinion.

CEU hurt me once when they pushed back their earnings announcement so I’m hesitant to trade the stock, however the chart is shaping up and it could squeeze again today. Goal would be to buy above the MA(20) and sell before the $1.60 range. Mental stop would be around $1.10 so decent risk reward but the support isn’t really established well yet so be quick to act if you go after it.

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