Penny StockWatchlist 8.27.10. This should be a wild Friday with GDP data. ARQL APP DAKT GOK
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ARQL
See a nice short as documented in the chart below. Please note that my drawings highlight what I vision is the perfect trade. As we all know stock trading is far from perfect. Still I’m looking for a flat to small pop to short. If it opens below 4.55 I will scratch this off my short list.
APP
A class action lawsuit http://finance.yahoo.com/news/The-Shuman-Law-Firm-Announces-bw-3477880510.html?x=0&.v=1 and the CEO possibly getting caned should draw attention to this over the next few days. There is some demons in this closet, for sure. I know how I want to play it but I have to think like the majority on this. First, there is no question the stock is oversold it has simply been hammered since April. Generally investors feel that when all the bad news is out and a stock is crushed it can’t go any lower. There most likely will be a small amount of bullish sentiment but I don’t trust this quagmire of company. They are poorly run, badly managed and are under intense pressure. If this can run towards 1.50 I may be interested in shorting. That may not be Friday.
DAKT
Yes, I have been featuring this for day’s and as called in the watchlist. http://thelincolnlist.com/?p=933 and it faded perfectly from 9.70. I still like this as a short because there is still more room to the downside. I see a 9 flat challenge and then a shot at 8.80. If the news is bad Friday this could free fall big time. As always I will wait and see because tomorrow is another day.
GOK
Another oversold stock that bounced. I feel may continue for another day or two. I didn’t like the way it slid from 5.55 area to close below 5 but maybe traders just wanted to sell stuff today, I know the feeling. I will have to see how this acts Friday. GOK has held support in the 3.70’s for ever and it could squeeze above $6 but that’s is all I can forecast on this.