Penny Stock Watchlist 7.27.10. Video is of MNTA. Text is YONG ARNA CRUS MNKD ABK.
YONG
Been on a roll all month. Up from $6 to $8. Today YONG a closed in on the 8.50 area. This is the high region of April May and June. If YONG can maintain 8.30 to 8.50 and break out from that level it may run towards the the mid 9’s and could turn out to be a nice trade. A failure to reach these levels could send YONG back to the 7’s. This is not a technical traders ideal chart as sometimes volume is sketchy and the price action can be all over the place. For the patient this can be rewarding.
ARNA
Yes I am still watching ARNA. Why? Because there is money to be made. ARNA topped my list as a short for Monday but it set up a nice sideways pattern in the 6.40’s and started to trend upwards, so I took a long. You can view it here http://thelincolnlist.com/?p=570 in the Trade Recap. Worked out good. Seems like just yesterday our baby was a little 3 dollar stock and here she is pushing 6.50 in all her glory. This party will end soon. On the daily chart ARNA looks incredible exhausted and limped into the close. The first sign of weak action I will short this
CRUS
This thing is out of control.Only gave out one good technical entry today and I missed it. I was bullish on this until I saw it featured by Jim Cramer today, now the stock is toast. Cramer pumping your stock is like being in a marriage. “It starts out all rosy but when you get to know each other you realise you made a mistake. I will be shorting this soon as I have to take a shot on this overcooked stock.
MNKD
Is in the the mid 7’s were it has struggled for the the last 4 months. This company is not attractive at these prices and is worth about a dollar. I would personally love to see a market euphoria bounce that will push this into the 8’s and that should be a nice level to short. Look to cover in the low 6’s
ABK
Heard from an old fried this evening ABK. I made some good trades on this trash landfill of a company. Take a look at the chart in April of 2010 you will see what I mean. ABK is up in after hours probably because of some fluff news but I don’t care. As it stands ABK is .92c, ABK do us all a favor and spike up to the 2 buck range so I can make some good money as I am not interested in ABK under a dollar. I will watch it tomorrow because you never know what may happen