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1 Jun

Watch List For Thursday June 2, 2011

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LEI is new to the list and has a history of making some pretty solid runs. Today’s action (4,821 trades and 2.42m volume) suggests tomorrow could be worth a closer look. Goal is $3.25 entry to $3.57 exit, possibly $4.00 if it opens up. Market cap is only $54m and you know how I feel about that. Quick stop loss at around $3.10 per share.

It’s been a while since I’ve recommended ROYL but it’s hard to argue the chart here. The market cap is only $37m and the chart illustrates why that’s important (see the rocket 4 months back). Nice little uptrend building here and after $3.61, $4.40 is the next real resistance. Target entry is on any bullish behavior with a $.30 – $.50 cent per share goal. This is a past winner for us and I think it’s setting up for a nice score again.

I grabbed a small starter position on MSMY into the close because I like the bullish chart. If it rises above $.13 tomorrow it could really open up.  Click here to read why the buy didn’t go out by text or email. My goal is $.15 – $.17 conservative and $.17 – $.20 aggressive. If you’re interested in this trade, you can probably get a better price than me at the open but be warned, it’s up quite a bit already and I’d only consider my buy a starter position. 10% stop loss here if the trade turns against me or about $.11 – $.12.

COOL continues to look better as it holds $3.00 per share, however today wasn’t a day to be buying not knowing what the market will do tomorrow. Trading range remains buy at $3.00 and sell $3.34 – $3.39 conservative or $3.54 – $3.75 aggressive. Remember, if there is anything my messed up trade on MOBI can teach you, entry is just as important as the catalyst. The COOL Zynga hype has worn off from our first profitable trade and today’s ‘buy’ rating is nothing more than a professional pump. Now we wait for a new catalyst to appear or it could drift below $3.00 per share as momentum traders move on. I think Znyga will lift it again, which is why I’m just trying to time my entry properly, don’t want to overpay before the next run. Tight stop loss at $2.97 or the 20 Moving Average.

USAT drifted today as expected. The Google rumors have faded and outside of TheStreet.com pump, there is no apparent catalyst to bring in massive buyers right now. I do think I’ll be a buyer again soon though if it holds $2.20 a share and starts to turn back up. Goal would be $.30 to $.50 cents per share after entry between $2.20 and $2.62 – $2.70. Mental stop loss of $2.00.

GLUU is showing some serious strength holding these toppy levels and I do believe it could go either way. I continue to watch the 1 minute chart each day for entry now that it’s establishing $5.10 as support. This is another stock up on Zynga hype, so I do think there is another decent run in GLUU before we see a down cycle. Target entry is above $5.10 per share with a $.50 cent per share goal. Stop would be on a break below $5.10, if you look at Wednesday’s 1 minute chart you’ll see why I’ve selected that as my range. I’ll do a video on this in the morning.

 

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