Penny Stock Briefing 9.27.10 RINO REE BORN QUIK VG SWIR MALL
It’s been a while since my watchlists have had so many about to go bankrupt companies whose stock prices are going to the moon. It’s hard for most of us to comprehend what morons are buying these slugs but many of these traders will be bathing in the “lake of loses” by weeks end.
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RINO
This one is not overbought but oversold. A lot of action in the options area today which leads me to believe that somebody knows something or traders are just looking to take advantage of the overselling in RINO. I don’t think the upside is done yet and I may consider buying at the open provided the action is good. RINO has a history of not holding on to it’s spikes so I think it comes back down late Tuesday or Wednesday. There is an upside target of $17 but it probably won’t get there.
REE
This stock is smashing shorts like the Incredible Hulk smashes cars. Brutal. I see a lot of respectable pro traders chasing this turd on every spike and that scares me .This stock could easily squeeze to the upside still. I don’t play that game. I’m surprised some traders don’t remember IDT. Just because a stock is overbought doesn’t mean it is a sure tank. There will be a moment this week where this stock will submit to the bears and throw in the towel but I don’t know if that will be Tuesday. Be careful with this one don’t let it make you a fool. Watch trade video here http://thelincolnlist.com/?p=1212
BORN
Just a week ago this stock looked done for but now it’s having a healthy go at another bounce. I almost shorted this today and I’m glad I didn’t or I would have lost money. Nice strong close Monday. I’m looking for a continuation Tuesday morning and after the first 40 minutes I will see if a short is open. Not a buyer of this name
QUIK
By the time you look at this chart you will see it looks just like the charts of the stocks above you. Out of control. No secret I will be looking for a short entry on this somewhere Tuesday. I’m targeting a downside move to 4.50, 5.50 is the area I would like to enter the short
Stocks featured yesterday still in play. VG (long) REDF (short) SWIR (short) MALL (short) Analysis here http://thelincolnlist.com/?p=1206