Despite having a full boat (TBBC, LOCM, GSTPE, LSCG and ANIK) I still like to be ready for anything that could make me a quick 10-20% so here they are.
PAL has been a previous winner for us and it’s back on my watch after getting smacked down. The palladium miner dramatically slashed its 2011 production forecast to 145-155,000 ounces of palladium from a previous forecast of 165-175,000 ounces. They also expect cash costs of $450 per ounce compared with a prior forecast of $340-$370 an ounce. Like LOCM, the game here is to wait, find bottom and play a 10% run back up or more. PAL isn’t going away because palladium is very rare and used in a lot of everyday items like catalytic converters to electronics.
Same story here for LQMT and yes, I’m getting sick of writing about it on my watch list so search ‘LQMT’ from the homepage if you want to know my thoughts on this on. No catalyst and no volume equals no play, but there will be.
PSUN had a nice 9% run yesterday after being featured on my watch list, the only problem was it ran about $.10 in the first 4 minutes of trading so I had no time to jump on board. Already up quite a bit from the low $3’s I decided it was best not to chase. Price pulled back at the close so we’ll see how today goes. Unless something drastic happens today it might drift back down and off my watch.
JAMN is now above the $3.30 range and appears to be consolidating. There is always a chance this dumps like back in April but I’m considering a day trade on it because it might have one more spike in it soon before pulling back some. $3.30 was the resistance from May 2nd and May third so yesterday’s break could mean it’s loading up for new level. This would fit my ‘risky’ category so be advised.