Penny Stock Watchlist 8.26.10. SOMX CWTR VGZ DAKT
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SOMX
Lots of chatter about this one today. Because the news was strong it made this not a short candidate. However that was ignorant thinking as brave short sellers were rewarded by a continual downtrend from the 5.50 area to close at 4.32. This thing could go either way today so I drew out a few technical levels in the chart below. I don’t see a run past $5 on Thursday
CWTR
A nice bounce on a downtrodden stock. I am looking for a small continuation to the upside Thursday and perhaps I will short it. I don’t think I will be a buyer as most of the run up is over. Therefore, I would like to capitalize on a little bullish hype for a quick day trade.
VGZ
I had this featured in a few past watchlist. To be honest I got this one wrong. I didn’t expect a bullish run that has lasted half of the month. What I like today was the huge green candle it printed on the daily chart. If you look at that you can see it’s overextended. What I don’t like is VGZ doesn’t seem to have that tankability where it just collapses. I could be wrong but simply would not buy this thing up here. I will however short it. Support 2.20/2.00 Resistance 2.55.
DAKT
Featured this in yesterdays watchlist . You can view it here. http://thelincolnlist.com/?p=933 Still flirting with that 9.20 area. In my opinion it’s struggling up at this price. I don’t think much more upside is in the cards. Looking to short early on Thursday. Technical levels are posted in yesterdays watchlist.