Penny Stock Watchlist 9.7.10. BORN REE VHC ZAGG
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Here is a funny video about being caught in a pump and dump. A must see. http://thelincolnlist.com/?p=1056
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BORN
Now that the holiday is over let’s see some action get back into the market. BORN is up from $5 to about $10 since mid July and up over a dollar in the last two days. There is a bit of over extension in this pattern. I haven’t found much of a catalyst that would justify this run. Now that it is attracting attention there most likely will be a pullback Tuesday or Wednesday. The stock should test the low $9’s ( outlined in the chart below ) We will see how the volume and action is on Tuesday.
REE
Breaking out to news levels at 5.17. This pattern is also very overextended. however, shorting stocks at all time highs is a dangerous proposition. Most of the shorting opportunities in the past on REE have not been those gimme type of shorts. I am not leaning towards buying/chasing this stock up here, nor will I short first thing in the morning. I will have to wait and see how the afternoon session plays out on this one
VHC
If you follow our watch lists we have featured VHC a few times. Honestly, I am impressed this thing is attracting buyers at this level. Sure it won’t last but the tank potential on this thing is a little unattractive. No play right now but you don’t know what Tuesday may bring. If there is a small retracement followed by a support level bounce I may scalp long. If it starts to get weak I will short but probably in the afternoon.
ZAGG
Approaching a double top challenge at 3.80. It may get enough momentum on Tuesday to go at it. You have to be open with your technical analysis with this stock. It moves around at times giving you false readings. If it cant’ make it there or weakness shows up this thing can retrace back to $3. As for now I am neutral on the stock.