Penny Stock Watchlist 9.14.10 REE KV.AVHCRXIIINETOPXAXNPT
Nice profit yesterday on INET for members in our free chat. Stop by and share your knowledge. http://www.meebo.com/room/lincolnalerts/ Access code : lincolnlist
If you haven’t seen this yet make sure you do. http://thelincolnlist.com/?p=1056
REE
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XNPT
Got a rally when they announced plans to advance its drug candidate arbaclofen placarbil into Phase 3. Big deal. This company has a history of FDA rejections and once stood at $20 per share as early as this February. There is a trade here over and over but to hold this long with the anticipation to revisit $20 is dumb. No doubt I am leaning to the short side here. XNPT is known for huge moves so I don’t want to be premature on a short entry. I would like to see a gap fill attempt to 8.75 and then short. Doubtful I will buy even for a scalp. We will see what happens on Tuesday.
OPXA
I’m starting to notice that all the companies present at the Rodman and Renshaw health care conference are getting bought up, hmmmm. http://finance.yahoo.com/news/Opexa-to-Present-at-the-bw-1812576430.html?x=0&.v=1. I wanted to short this today and we discussed this in free chat http://www.meebo.com/room/lincolnalerts/ Access code : lincolnlist. but I could not find shares. I hope I didn’t miss a move here as the stock went straight to 2.10 and then gave a good portion of that back. If it tanks first thing on Tuesday I will scratch it off my list as the play would be over.
INET
There was a nice article from thestreetsweeper here. http://www.thestreetsweeper.org/undersurveillance.html uncovering some demons in the closet . I don’t know if that was solely responsible for the smackdown but it didn’t hurt. This stock plummeted right from the beginning and some of our members banked. I did not early. I have a strict trading rule that I do not trade in the first 30 minutes of the day, unless it’s a true cream puff. On this occasion it was a hindrance. However, when the stock failed to crack $10 intraday I shorted it and it turned out to be a nice little gain. Perhaps the meat of this trade has passed but technically there is no support on the chart until $9 so there is a chance at more downside.
RXII
A little manipulation party happening here. News stories point to a possible buyout but buyout talk is not out of character for pharma. Usually when a big announcement is in the works the stock is halted and then the news is announced. That doesn’t seem to be the case here and I think this stock is being pumped, maybe all roads lead back to Rodman. No technical levels right now that mean anything. We will monitor the action on Tuesday.
Others to watch KV.A VHC