Stock Watch 12.7.10 “Sleeper Hold”
REE SNEY ONCY SPPI NENE ANX MEA
Multi day runners LLEN ARII NG
There were some good set ups Monday but most turned out to be duds. Of all the stocks I posted in chat to short URRE LOCM REDF AMRN and ANX. Only ANX and LOCM were rewarding for shorts. I missed both sweet spot entries on those and ended up with URRE and it was just a snoozer. These Micros are on a run so I am going to proceed with caution and lower my share totals on initial short positions. When they start to fade I will up the ante.
REE
I want to take a look at some rare earth and miner plays. Last time these things ran a mile before tanking. I’m fully aware they make no money but former runners run. I mentioned in chat that I wanted to by this on a pull back off the MCP move but there really wasn’t one. If there is a viable opportunity tomorrow I will buy some. If there is a gap up I will not chase.
SNEY
I like this as a long play as well nice break at .12. It’s tough to jump in and buy stocks that are +40% on the day and trade in OTC land but for the riskier traders , good reward.
ONCY
Like the smell of shorting this but it’s still in a bull cycle and it has been even before the market ramp. I would like to see some a.m. bullish activity followed by some fades. I will proceed with caution on shorting this one
SPPI
Up 20% Monday and still rolling AH on positive clinical data for Zevalin, its proposed treatment for non-Hodgkin’s lymphoma. No short play in mind until I can do more research. However, some long scalps Tuesday morning may put some dollars in the pockets. Nice bo parabolic chart.
NENE
NENE looks like it’s gearing for at least a run towards $2.03, previous high. I’m in long on a good volume push past that number.
ANX
This was one of my top shorts for Monday and it faded nice from it’s highs of 16%. I missed the set up from early morning so no trade there. This stock is up a ton so plenty of downside room when it wants to get weak.
MEA
Nice strong break out and finish on the day. I like this as a scalp long providing it stays above $5. Not expecting an all day run tomorrow.
LLEN
ARII
NG
