Penny Stock Watchlist 7.16.10 AUMN VRNG JASOXNPTSVNTUTAARQL
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AUMN
Another driller headed to the moon. I am only looking at this trade from a technical level. The chart is certainly headed for a pullback but as always predicting that pullback is tricky. I think this stock may have another up tomorrow and then it should be a decent short. Watch for premature overaggressive shorts getting squeezed early. Upside target to short is $13
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VRNG
I shorted this stock 2.93, not a good entry. After that the stock bounced around from 2.80 to 3.20.I cut half of my position to reduce risk as I fell out of favor with this stock. I certainly wasn’t happy with the action on this and it has up-ticked to 3.21 a/h. This stock is probably going down. If it tanks in the am I’ll take what it gives me and move on. If it spikes I will cut my losses and look to reshort on a short squeeze,
ARQL
Nailed a perfect entry long @ 3.34 then, nailed a horrible exit @ 3.47. All that counts is I made money but while I was blogging, moderating chat and playing around with VRNG this stock printed 3.70! Ouch. This blogging can get pricey. I like the way this stock tanks the spikes over and over. Just follow the trend.
UTA
Stock got hammered today. Made a decent recovery from the days low but still finished down. I would like to see this stock attempt to fill in the gap to 4.50 and maybe short it. I wouldn’t be opposed to buying either if a gap fill looks likely. Problem is that on a stock that get plummeted like this bitter shareholders sell on every spike. Therefore as a buyer you would need to display patience and fearlessness. Both qualities of successful traders.
Stocks from yesterdays watchlist still in play SVNT XNPT JASO View here http://thelincolnlist.com/?p=1123