Stock Watch 2.16.11 ” I did what I said”
As mentioned in yesterday’s watchlist here http://thelincolnlist.com/stock-watchlist-02-15-11-back-to-the-front/ I said I wanted to focus more on shorting some of these blown up stocks, and that’s what I did. Killer short trades in the afternoon on KV.A VG SCON and LNG turned into nice winners for me. There have been so many breakout charts to play as of late I simply overlooked some of these good short set ups. I’m not a doom and gloomer but it sure feels nice to drill a good short every so often. That’s the part of the pond I swim in. Wednesday I will look to do the same.
Watchlist VG LLNW MCZ IDTI REDF BONT ZOOM
Scanners CYNO
Previous Watchers SCON LNG KV.A
VG
I usually don’t short earnings plays but when you get +20% and an RSI of +90 you have to try. I do think this pops after Joe lunchbox gets home from work tonight and he sees this on CNBC. Tomorrow I may look to scalp an early morning run long and short the fades after that
LLNW
Huge gap and massive volume. I’ll remain neutral on this for now but that volume was absurdly high and that generally means more upside but we’ll see.
MCZ
Monster runner as of late. I;m too late to do any real buying on this so I’m stuck with scalps. I think this follows the trend an takes off in the a.m and then possible fades. I want to pay close attention to the fade because shorting is not out of the question
IDTI
Bull flag break out. This is all about an $8 cross. If this can tap that with authority it can really move 40+c
REDF
REDF is absolute junk. Amongst all this bullishness in the markets this thing can not cross $8 Right now at 7.15 this is a awesome RR trade. Any weakness could send this down a buck or more
BONT
A good looking fade on an incredibly overbought stock. There was a key fade from the highs on Monday followed by a red day Tuesday. Still more room for a good short
ZOOM
Got some attention today. ZOOM doesn’t really hold it’s bounces very well. A lot like URRE. Hopefully it gets top heavy in the morning for a short
CYNO
