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6 Jun

Watch List For Monday June 6, 2011

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Apple’s 2011 Worldwide Developers Conference begins today which is why I alerted LQMT Friday in chat and by text message when it started to move up. As you know I’ve been trading this stock for quite some time and this catalyst could cause it to move up even if no announcements are made. I’m already up $800, see the details on this trade by reading today’s live positions. Current price is around my second entry so for anyone not in yet, I still think there is a lot more we could see here. Resistance at $.60 to $.65 remains strong, if it ever breaks I’d really expect this one to open up due to the small market cap of $62m.

Since March, $2.00 per share has acted as support on USAT. I’m looking for early entry here soon as the sellers appear to be leaving the stock alone down here around $2.10. I’m in no rush to jump in because there isn’t an immediate catalyst that I’m comfortable betting on outside of the chart but that’s what watch lists are for. Anything under $2.25 so long as it holds $2.00 support should be a safe entry for the next move up between $2.50 and $3.00 per share.

Another previous winner that I continue to eye up. ZLCS is holding onto some small gains from the $2.18 low recently suggesting this sideways action might be a reloading platform. Watch for the next move up between $2.60 and $3.20 which would make for a really nice trading range.

CLSN recently got a boost from this Seeking Alpha article. Biotechs can be risky so be careful if you take a dip but buyers have dominated the sellers recently and there is a nice trading range between the current price of $2.96 and the recent high around $3.50.

I’m still bidding 3k CNTF at $5.05 and almost got filled Friday in the down market. Goal is to take position at $5.05 and trade for roughly $.50 to $1.00 per share as a short term to intermediate term hold.

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