Penny Stock Watchlist 8.25.10 DAKT ZAGG GNBT HSWI BSDM
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DAKT
Caught everyone off guard when they posted a surprise quarterly profit, when they claimed that the worst of the downturn was behind them and their stock spikes 15 %. Amazing how that works. I think the stock is a buy based off of the news euphoria but a very short term buy as illustrated in the chart below. The reason a say short term is because as you look at the chart they have been unable to hold any spike for more than a few days. Second, today’s rise was their biggest intra day percentage jump in nearly two years and to top that off their share price is down almost 14% in the last year. You’ve heard “Even a blind Squirrel finds a nut every once and a while”. That’s what happens when a losing company lucks into a profit based off of some accounting tactics. I will also keep this on my short watch as I see no way this continues to run past Thursday
ZAGG
Huge run and massive buying on…….. who really knows for sure. Anyway, ZAGG is not a true pump and dump as they do turn a profit. Having said that lets be reasonable. This spike was enormous and continued all day. I kept saying nobody in there right mind would buy this at 3.40, then 3.50 then 3.60/70/80. It just kept going. It will not be able to sustain this summit move. I will look to see the action on this Wednesday for a good place to short, if any. I see a retracement back to about 3.20
GNBT
Nothing like a little biotechtrash to perk up your short interest. I’m wondering why this just didn’t tank today. I think I have more money in my trading account that they have in the bank. This this is incredibly allergic to .50 and if you see it there that would be a nice short area with a stop at .55/.58. Only market manipulation will drive this higher.
HSWI
This will probably be my top short for Wednesday. I shorted this recently. Video is here http://thelincolnlist.com/?p=811 Fliting with the $8 area which is the high area on 7.29.10. I sure would like to see this flake out towards $8 so I can really hit this one like Iron Man. The lack of short shares probably keeps this afloat at times. Find shares and put this on your list
BSDM
Shocked everyone with a positive day, every once and a while you are stunned about something. It really is a long summer. All the details about this stock and the money that was made on it is here. http://thelincolnlist.com/?p=867 This probably went up because nobody could find any shares. If there are some available I will snatch them and look to short again