Because of the short time frame for recording video ( 5 min ) and the monotony of listening to my voice. The watchlist will now feature 1 stock to trade that will be covered on video. This way I can devote more time to discuss proper trade set ups and technical levels of that particular stock. The remainder of the stocks on the watchlist will appear below the video in text . Also, today will be the first day of ” Trade Recap” covering my entries and exits.This will be posted at the end of the day.
Below is video of how to trade ARNA. Text watchlists located below video for CRUS COCO IFLG HSWI.
COCO
Due to the recent sparseness of quality overcooked stocks not cooperating ( IDT ARNA NEXMD ) COCO was a burst of excitement on an otherwise sleepy day. My Intra day technical levels played out well and you can read the blog post here. http://thelincolnlist.com/?p=463 . Unfortunately I didn’t catch the failure double top at the $ 11 area and missed a sweet trade. For tomorrow I would love to see a retest of 11 to short or I will be willing to short at the open on any weakness and especially a break of the 10.20’s . I am not a fan of buying this name because COCO is down about 40% since May. I think long term share holders will hit the exits and all that will be left is momentum traders like us!
CRUS
This played out perfectly as documented in yesterdays watchlist. http://thelincolnlist.com/?p=455 However CRUS sunk in a bottom in the mid 16.60’s, bounced right off of the upward trendline and just took off from there. The second wave of upward momentum came in the last 2 hours of trading. There was heavy buy orders coming in and I took 2 long stabs – 1. at 17.15 and again at 17.30, neither orders were filled and then I got involved in chasing so I passed on it entirely. Breakout potential is at the 18.20’s. Shorting should be done on upswings as CRUS lacks true crashing potential
IFLG
IFLG does not lack crashing potential. This is the most predictable stock in the world. Every spike has failed since December. Problem is they keep getting smaller like Mel Gibson’s star potential. However, there is still good money to be made. Technique is – 1. Keep IFLG on your watchlist- 2.When you see 2 green bars in a row -short it!- 3. Count your money.
HSWI
A bit of a lager as of late but today there must have been a short covering rally as there was a quick .70c spike . Ultimately it did not hold. Looking at the daily chart it appears as if it’s trying for pump # 2 very similar to LTBR. Just like LTBR, HSWI probably won’t hold either. Certainly would like to see this joker make a run to 4.50 that way I can get excited about it. Otherwise I’ll kick it to the curb