Penny Stock Watchlist 8.30.10. CERP REXX WPCS VHC DAKT IMGN ISLN RPC
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Penny Stock Watchlist 8.30.10 CERP REXX WPCS VHC DAKT IMGN ISLN RPC
CERP
Still holding short from 4.02. I loved the way this thing failed several tomes at that level. I didn’t like the summer doldrums that kept this twerp upright. I would like to see a break down of 3.80 on Monday followed by a breach of 3.70. From there it should belly flop to 3. See chart below. If this haggles around I may cut the position early.
REXX
Up strong the last three days on anticipated news. I’m looking at a possible small run to 10.50/11.00 before this thing flip sides. If there is a run from the open towards 10.50 i will short because the chart is overextended. I would place a tight stop because this has been closing strong. I’m currently not hyped on buying because I think the buying opportunity was on Thursday.
WPCS
Talks of buyouts at 3.50 sent this stock to the moon Friday.Link to article here. http://philadelphia.bizjournals.com/philadelphia/stories/2010/08/23/daily37.html?ana=yfcpc Nothing is finalized as of yet, so I will watch to see how this news plays out. Tipicaly you won’t see much of a print beyond 3.50. There could be a trade in either direction. I lean more towards the short side because if you are long and the 3.50 deal doesn’t pan out a stock in this bad of shape will be worth 1.50 in 30 seconds.
VHC
Another benefactor of good news. VHC received a nice payoff after several years of lawsuits regarding patent infringements. News like this could send this stock higher on Monday. Also, it is approaching a double top of 7.70 from March. I’m concerned about the lack of VHC holding previous spikes but if there is a strong open I would be willing to take a shot long. If not I will monitor the action to see if a fade from Fridays run will burn out.
Others to watch. DAKT IMGN ISLN RPC