Stock Watch 4.12.11 “Market Raffish”
The market raffish was in top gear Monday or I should say low gear. It was a bit of a sleeper after the first hour but not all five days of the weak are boomers. There was some great calls that first hour like LNG BLTI and FTK. I notice that new trader often feel that there is a mega opportunity for a trade every five minutes but truthfully that’s how traders get in trouble. Remember you don’t have to trade. Wait for the right set up and avoid the raffish
Longs LVLT AFFX SNSS SIMO
Shorts CHBT DEXO TSTC
Other shorts previously featured TXCC LIWA GFRE
LVLT
Got a boost from buyout news. A lot of strong buying and volume all day. This could easily continue higher now that the chart has broken out. Don’t chase gap ups
AFFX
Clean breakout at 5.50. I would like to see an open above 5.85 and hold that for a long. Gap above 6 or an open under 5.50 I’ll probably scratch from the list
SNSS
Been on a nice run after breaking out from consolidation. I’d like to see a 2.50 + open and volume to long. This is also a short candidate when momentum dries
SIMO
The close above 9.76 was a bullish one. As long as it’s a flt to strong open this is a good long
CHBT
Trading down a 52 lows on high volume. If this opens weak and takes out 7.35 It can get another leg down
DEXO
Looking for an under $4 break to seng this under 3.89. That could be a double bottoming area of support but it just might rip through it.
TSTC
Already beaten up quite a bit but there are still sellers in the name. Could see 5.40 before mounting a rebound.
