Penny Stock Watchlist 9.17.10. FUQI OREX DCTH SVNT AUMN G CAGC PWER DIGA
SUPER HUGE call from members in chat. The victim? HOOK. The reward? Look at the chart. Join us free as we uncover some of the most ovehyped companies that put $$ in your pocket.
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FUQI
I am wondering who’s behind all the buying when this company is constantly late on filing SEC documents. Their business model isn’t that good. Nothing solidifies this run up at all but let it run, run to the $8’s please. All joking aside this run is unsustainable. I am not a fundamental analyst but it will be difficult to attract new buyers up here with FUQI’s SEC skeletons.
OREX
With the rejection of VVUS and ARNA‘s weight loss drug ( no surprise ) OREX is next. I shorted this stock in the anticipation that other biotech’s with weight loss drugs would tank. I made a quick cover as this this spiked to outrageous levels. Remember idiot traders can migrate to other stocks. OREX is a primo short. The drawback is there panel isn’t until December. That might keep the stock from going to zero. There is a very very slim chance their drug gets approved. This is a dead stock trading.
DCTH
On the daily chart this is set to break out towards 8.50/9. I would look for bullish continuation Friday. I have bought and shorted this stock several times but I caution you, this companies horrific. If you chose to buy it do not walk away from your computer screen and do not hold it overnight. It will not maintain any long term uptrend
SVNT
Featured in yesterdays watchlist. Looks like the upward move is now running out of steam. This has the potential to be a huge play as support is a long long way down. Read analysis here http://thelincolnlist.com/?p=1133
AUMN
Is now just shy of my $13 price target area to short. I felt there would be another run up Thursday and there was. This stock is massively overcooked on every technical level. It’s only a matter of time before the volume drys up on this and it makes it’s way south. Probably tomorrow afternoon when all of the overanxious bulls get shaken out.
Other stocks to watch G CAGC PWER DIGA