Penny Stock Hitlist 10.12.10 RINO SNIC JAZZ BSDM MCP VHC AUMN GERN ONP
What a boring Columbus Day. This may help you understand why.
Christopher Columbus’s initial 1492 voyage came at a critical time of emerging modern western imperialism and economic competition between developing kingdoms seeking wealth from the establishment of trade routes and colonies. In this sociopolitical climate, Columbus’s far-fetched scheme won the attention of Isabella I of Castile. Severely underestimating the circumference of the Earth, he estimated that a westward route from Iberia to the Indies would be shorter than the overland trade route through Arabia.
Are we at at critical time in the market?
Is the market a far fetched scheme?
Have we underestimated this market?
We shall see.
RINO
Looks like a technical breakout on the daily charts, especially at 14.77. No surprise as all Chinese stocks have been pumping as of late. I should have payed closer attention to this one because I missed a killer move. There is a decent amount of short interest in this stock and I expect more continuation up tomorrow. I came close to pulling the trigger but I can’t chase it up here no matter how attractive. I can only wish to get a small sell off in the a.m. and buy on a dip.
SNIC
Another nice breakout pattern on the daily chart. SNIC acquired DIVX but it didn’t do much for the stock as it pretty much remained flat, although at one point it was down a little. Here is the news story.
Sonic Solutions® (Nasdaq:SNIC – News) today announced that it has completed the acquisition of DivX, Inc., based in San Diego, California. The addition of DivX® brings widely deployed digital media technologies, an embedded CE footprint of over 300 million devices, a strong consumer brand, and a global market presence to Sonic’s expanding position as the leading supplier of services and technologies for the distribution of premium video content over the Internet.
If SNIC can stay above $12.50 I may buy it. that’s a big if because the tape has to be just right.
JAZZ
As the ones in chat know I shorted this at $10.42. If you are not in chat you need to start showing up. I thought about adding to it at $10.60 but I’ve gone cold with JAZZ. At the last minute I decided to hold overnight now I have to wait until the a.m. If JAZZ looks week I will cover in a morning panic. If there is a spike I will wait till after the first 30 min to see if I can cut losses on a reversal.
BSDM
I would have loved to short this Monday but no shares to be found. I hope some of subs got in on it. I will be trying to secure shares in the a.m. and I hope it can squeeze to $4.50. That is my sweet spot entry. If it’s down in the a.m. I will pass. If you can find shares, get them.
Old Players
MCP and VHC two stock that went up a ton and then got waxed last week. When all the short sellers kicked these stocks to the curb they get a nice little bounce today. We need these two to push a little higher so we can really lean into these two. Both stocks are optionable so if finding shares is a problem you can always buy puts.
AUMN
Wow what a spike. Another I let slip away. I have no idea what it will do tomorrow, probably go up more but there is a play either way.
Others
GERN ONP