Penny Stock Watchlist 10.18.10 PIP PIP Hooray! PIP EBR NLST CCME MCP BORN SMED
Nice calls in chat last week and I have a feeling this week will be better. There is a plethora of overbought stocks hitting my radar screens, some of these will not be able to hold on. Let’ s get on them early and often.
PIP
Has now developed a supernova pattern over the last three days. I scalped a couple of longs on Friday but at the end of the day I shorted. I closed out for a small loss which in turn was a great idea as this monster went up more after hours. The word out is that PIP is up because of the government contract awarded to SIGA2.8 billion for it’ s smallpox vaccination.The kicker is PIP is in a lawsuit with SIGA and at one time were considering a merger. Full story is here http://seekingalpha.com/article/230259-why-pharmathene-could-go-from-2-to-20?source=yahoo . I’m not much of a fan of over analyzing companies. The facts are this. PIP is up over 160% in the last three days. There is probably one more round of buying as it sucks in amateurs Monday morning. After that it will drop30%. As always it’s timing as to when that will happen. We will see after 30 minutes of trading. This is a top priority trade.
EBR
Simply a beast. A pre feature on Friday I missed out on this one. It feels a little lofty way up here but technically I see higher prices. If there is a good opportunity such as a pull back I may go long on this. I can’t predict the future so I will just monitor the tape and go from there.
NLST
Still wondering what this thing is doing up here. It must be the overall market. This is about to get sold off soon and Monday might be the day. I would love to see a pop to $4. If that happens I’m in short right off the open. You should already know the history of this company and their shady dealings. If there was no PIP this would be the short de jour
CCME
Pretty much strong all day Friday. I want to look for a gap up/spike and try a short. If it opens flat or slightly in the red I may long CCME depending on the tape. I would rather short as I hate chasing these stocks up at these levels
Others on pre list
MCP
Never got my November $25 strikes for a $1. Will try again Monday.
BORN
Good short set up but I’m having trouble with the back and forth action on this. May ignore
SMED
After the streetsweeper article that sent SMED to the grave. It seems to have consolidated and may be a good dip buy.