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13 Jun

Watch List For Monday June 13, 2011

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Regarding my buys, you can always assume that I’m looking for 10% profit on a trade or $.50 per share from the time of my purchase. In addition, I’ll usually try to keep my manual stops at 3% to 5% below entry unless I have a good reason to average down which is a part of my ‘drift’ into a trade strategy.

We’ve banked on LOCM every time we’ve played this one. Shares just made a higher low at $3.31 so this could be a possibly turning point.

HPGS is a big pump that could breakout above $1.48. BestDamnPennyStocks was on it last week, we’ll see who is on it this morning and take a look at the disclaimers. Not sure it’s a huge program so it’s likely this run will slow soon as traders lose interest. It’s a bit top heavy here but if it continues to get media coverage it could really open up above that $1.48 resistance. Possible buy or short depending on developments.

As USAT closes in on $2.00 share support I’ll watch for entry. This stock has been very good to us here at PSL but it needs a catalyst for me to buy and right now a technical bounce isn’t enough. Possible entry on any significant news or movement.

CABND just did a 40-1 reverse split and these prices are top heavy in my opinion so potential short at these levels.

MCZ was added to the Russell as well and will announce earnings Tuesday after the close. First solid up day was Thursday last week which was probably shorts covering prior to earnings and a bit of run up. Possibly a trade today and tomorrow before earnings.

COOL will announce their Q2 earnings after the close. They were added to the Russell Friday after close so today will likely be volatile. No trade during normal hours but I’ll be watching earnings in the post market. Potential break out above $4.15.

 

 

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