Penny Stock Watchlist 9.10.10. DHRM SIAF REE QXM VHC ARNA RDCM STXS
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DHRM
On it’s fourth straight up day.They Reported good Q2 earnings on August 16th. Story here. http://finance.yahoo.com/news/Dehaier-Medical-Systems-Q2-prnews-1229926199.html?x=0&.v=3 but the stock couldnt hold it’s momentum. When they hired a PR and Investor Relations firm, story here. http://finance.yahoo.com/news/Dehaier-Medical-Systems-prnews-700930195.html?x=0&.v=96 that changed everything. They must be doing their job because this stock is out of controll. I know they made money but the upswing shouldn’t continue much longer. I will see what Friday brings and look to short. Keep in mind this stock trades at low volume and shares may be difficult to find.
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SIAF
Isn’t it fun when a stock goes up 100% in half of a month. This has been under accumulation off of a series of news prints. There is an upside resistance area around 1.36 and I don’t know if it can squeeze that high after being on such a tear lately. For the moment I am neutral on the stock. If the action looks like it may work it’s way to that 1.36 I may be persuaded to buy. I will inform you that I almost never hold OTC stocks for long. What I mean by not for long is 5 minutes. If they turn green I take the profit and run. If I’m in the red I do the same thing. Sketchy
REE
I posted a live trade video on this yesterday. You can view it here. http://thelincolnlist.com/?p=1088. The trade started out nice but just wouldn’t roll over. That happens from time to time but it was a great set up. You have to take those. I have already done a ton of analysis on this stock and it’s still in play for Friday.
STXS
I missed a great short entry at the second break of the day. Multi tasking has never been my forte. I still thing there is some room to the downside but it’s not a mega short. I’m not interested in buying because in the past it hasn’t held on to any spikes. If it can break down below 3.75 it could slowly work it’s way down to 3.40. I know, not much.
RDCM
The daily chart on this is soooo tempting to short. I’ve seen many charts that have looked like this before and when they tank they really tank. No doubt it’s majorly overextended but there were many pivot points in the recent past where it appeared to begin a retracement but didn’t follow through. Would love to short but will precede with caution.
ARNA
Big panel decision coming up on this Monday. I mention this because there should be a lot of action on this name as traders place there bets. I don’t think I will play it because that type of trading is outside of my trading plan. On Monday this stock should move huge in one direction Monday but you’ll have to wait until Monday to find out. If I were to play this it would be with options, option straddles or a box trade.
Others to watch. VHC QXM