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7 Jun

Watch List For Tuesday June 7, 2011

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Poor MOBI, once in the $20’s it’s just been one embarrassing decent but all hope isn’t lost. MOBI will bounce sooner or later and I’m going to be ready to take position when it does. Shorts continue to pile on but eventually MOBI will squeeze and run for $3-$5 per share which is exactly what I’m looking for. Could see the $5’s first though as there is no strong support anywhere.

LEHMQ is really starting to get traction and we might see a lot more out of this stock in the short term. I’ll look for entry on a pullback and take a starter position to fell it out.

JAMN is nothing more than a massive pump and dump. That means it’s like shooting fish in a barrel. It’s already been halted in Canada which means it’s a target for the United States as well. This bounce isn’t going to last forever so I’ll be looking to take a short position in my new account I just set up. If you’re looking for shares to short, get setup with someone like Interactive Brokers who usually has shares on stocks under $10 including OTC’s.

COOL was a favorite in chat yesterday. Despite a bear market it fought off sellers pretty well which means it might bounce today since futures are up. It’s important for COOL to trade above $3.29 as it beats down the resistance at $3.40 because $3.29 is your MA(50). If and when $3.40 is firmly established on the bid it’ll be on it’s way to $4 again. Earnings are coming up 6/13 so you have possible run up potential too unless something negative leaks.

USAT is looking weaker and weaker as sellers dominate the stock. If the company doesn’t come out with some news here the only thing that will hold it above the $2 range is technical buyers and in my experience that’s usually not enough, especially considering the boarder markets have been taking a beating overall. If it holds $2 and the company comes out with good news then USAT is back in play. I’m sure the company would like to keep it above $2, so we’ll see how good their PR department is.

 

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