Stock Watch 1.25.11. “It’s going to 12K and a special IPO”
This market just keeps rippin off of every dip. Of course the overall status of the market usually does not affect small cap stocks but in this case they seem to be rallying as well. At this point I can’t see the DOW not touching 12k tomorrow, that’s what it wants to do. Having said that the RSI of the DOW is right at the levels of April 2010 right before a heavy pull back. I’m not in the business of trying to top tick the market nor do I really care where it goes but if you are a swing trader or you are sitting on some nice gains, you may want to pay close attention to this. You may want to consider lightning up on some of your long positions and not commit heavy on new longs.
Watchlist HILL OCCF CNR MOBI DTLK GNVC
Scanners: NEI
Previous watchers still in play: MGIC OPXA LDK RNN
PPLE
This social network site will make it’s IPO Tuesday. Everyone knows by now that social networking is super popular and investors would love to see face book or Twitter go public but who knows when or if that will happen. However this facebook clone has enough hype around it to skyrocket through the galaxy. I can’t confirm it as a buy. We’ll have to see how the pricing of the IPO is as well as the volume etc but it;s a definite watcher. Will be trading on the OTC markets.
HILL
Probably due for a pullback but it keeps hitting 52’s relentlessly. There was a nice little fade in the afternoon but nothing of substance. If there is strong support this could rally for another day, If there is failed breakouts it probably goes much lower.
OCCF
This is an earning player so it’s not really a thinking traders short. I dropped the ball on this Monday but these earning plays can roll for days. If it holds up I’ll look for drops to build long positions
CNR
What a killer looking chart. I haven’t found anything of solid word that would run this stock up this much. I guess leasing to Chinese jewelry is a booming business I normally would short the pants off of this pattern but it’s a low floater. Will just watch for now.
MOBI
Looks a little overextended after three up days. The action was somewhat shaky Monday so I skipped over it. I’m interested in shorting this at some point.
DTLK
Looks like it’s geared for a round 2 run. Was up a few days back on an upbeat forecast and held on to it’s gains. Clearly on a breakout watch for small drops to enter long.
GNVC
Broke out of it’s shell on strong volume. This stock is poised to run towards .80. Solid RR play here.
NEI
