Penny Stock Briefing 9.24.10. The Hunt for REDF October. REDF LOCM CVM TRTR BNVID MCP INFN VRNM NLST
REDF
Last call for this one. If no breakdown Friday I’m going to find another lover.
Should be many more people in chat but who knows. Visit us in chat here http://www.meebo.com/room/lincolnalerts/ Access code : lincolnlist.
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LOCM
This has been a nice play in the past. Momo players love this stock and the chart looks poised to move up. There is solid support resting in the 3.50’s and a Barrons article issued late Thursday could send this higher. http://online.barrons.com/article/SB50001424052970203514704575509912121444140.html?ru=yahoo&mod=yahoobarrons This is a daytrade only as this stock is not the hold over the weekend type. Very volitile.
CVM
Good parabolic chart set up on this one. Typical story here, real swamp rat company up way to much in 3 days. There was a nice afternoon fade from .80c but the stock closed green on the day, barely. I don’t think it will be so lucky Friday. CVM probably heads back down to .60. I will see what action says Friday to determine a short entry.
There was nice double top resistance on the daily chart a .75c. As soon as it touched that level it retraced hard. It may have moved down to far to risk a trade on it but worth a look. If it could make one quick push into the .60c region I would consider shorting there.
BNVID
Got a major lift from a positive article on an FDA go ahead. http://finance.yahoo.com/news/Bionovo-says-FDA-OKs-Menerba-apf-3781064906.html?x=0&.v=1 This is a messy stock. I would have to see a print in the low $2’s to want to risk a short. Perhaps this news article can strike some buying heat and move it up. If no $2 run probably no short.
Other stocks to watch. MCP INFN VRNM NLST