Lincoln Alerts Stocks For 8.13.14
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$BITA $ATHM $KATE $KING
BITA
Have to put BITA back up on the list. This thing is a fun trader and accounted for at least 3/4 of our gains Tuesday. These run-up stocks that suck in the morning euphoric buyers make for some great scalp shorts and with another 5% move on this and a good $14 away from its 20 SMA the short trade is still open. If this thing opens up and runs like it did today I would definitely short.
ATHM
Also going to add this ATHM as a potential play off of the BITA euphoria. I don’t have any specific outline but you never know maybe shares are not available for BITA or something like that. There is resistance on this chart in the mid-$46 area, so perhaps a really strong run into that number would offer a short or if the dips consistently get bought up like they did today there may be a long trade in this too
KATE
Poor KATE she had a rough Tuesday. These kind of death charts are dip buying hypnotic. You just see something tanking like this and you want to buy it. Most of the time these trades work out but every so often you get a KATE that just seems to have no bottom whatsoever. Reminds me of OSIS which I got plastered on not too long ago – same set up. There’s two ways I’d look to play this, if there is a panic drop or flush in the morning I think that would be the best scenario for a long reversal . The second play would be if that run up happens early and I may look to short it depending on how far it actually ran .
KING
The chart below doesn’t show after hours activity so you won’t be able to see it and if you’re a long-term holder of KING you really don’t want to see it. This thing is down four dollars after earnings. Lately it seems that the high probability trade with these has been to short early and catch a morning flush or short the bounces. Now many of these can run but most of the time after bad earnings they spend the next couple of days drifting downwards . I’m not saying that’s going to be the case here with KING but the probability points to that.
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