Penny Stock Watchlist 9.3.10 LLNW FORM REXX PIR SKS CWTR CAR ARQL LOCM
Payroll numbers come out today. Maybe that will inject some volatility back into this boring sleepy market. Have a great holiday weekend.
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LLNW
Busted out heavy today on takeover talk. Some rumors have Yahoo buying them for $20 pr share ( current stock price is 4.44 ). That’s just stupid. Perhaps a buyout may occur but shirley not at that price. However there are a lot of fools who trade stocks so a run up tomorrow is not out of the question. The key number is 4.70, if the opening action is strong it could attempt a run towards that number but if no buyout occurs this thing heads back under $4 real quick.
FORM
I took a long trade on this swamp rat yesterday based off of a Goldman upgrade. It wasn’t even a good upgrade, it was from a sell to neutral. Anyway, this thing couldn’t hold any spike to save itself. The entire time I was in the trade I was thinking ” I wish I was short”. Now that’s what I’m precisely thinking. I hope this thing goes up a fraction so I can short it. If it can’t maintain any momentum from Goldman’s, nothing will save it.Yes, I lost money on the long.
REXX
Is on an absolute tear. I featured this in a few watchlist at the beginning of the week. I must say I didn’t expect the run to last this long. I don’t think I will be interested in a buy now because it’s definitely overbought and outside of my trading plan. I’ll be watching $12.40, that will be a double top area that dates back to early June. It’ will be interesting to see if it can challenge that figure on Friday.
PIR
Perched right at two month resistance 7.70. This stock has a history of running a few days in a row. I vividly recall PIR waxing a lot of overaggressive shorts. They haven’t forgotten. I am leaning towards buying this providing it doesn’t gap up to much. Analysis tells me if it can remain strong Friday it could run to $9 in the next few days. PIR is one of the few stocks I will hold overnight.
These stock have been featured in watchlist this week and are still in play. SKS CWTR CAR ARQL LOCM