Stock Watch 4.13.11. “INVErted”
The day belonged to INVE. A +109% move gets your attention. I made some decent money on this both long and short but it really surprised me with it’s brute power. I’m so stoked on it I cant wait to trade it on Wednesday. This should be all over the place offering ripe opportunity. I had some high percentage winners in SPY calls and CYT and the day turned out decent on the P&L. Also, I want to stay on top of the rare earth space. These players are still under heavy momentum and will be good longs on breakouts and shorts when traders are done with them.
INVE
Look at the chart need I say more. Probably rips right out of the gate and goes higher. This will ultimately become a short but like VHC sometimes these momo players take a few days to die down. Only the first up day. Looking to long in the a.m. and fade short in the p.m.
IDIX
They did a public offering a few days back for 2.80 pr share. Somebody is sitting on a nice chunk of dollars here. The way this closed I’m looking for a run towards 4.50. Then I will look for fades. Buying early strength
ANIK
Broke away from the 8.70 consolarea. Bigf volume should attempt to challenge 10.20 then 10.50 If those numbers fail could be a short
CYTX
Come right out of a nice bull flag. I’m more interested in this on a run into the 8.35’s. Above 8.50 this could really break loose.
HRZ
Closed in the red and pulling away from it’s lame gap fill attempt. I’ll wait around for a fade or weak bounces to short. If volume is there.
EGLE
Look certain to test 52 week lows of $3.62. Below that it could trigger some stops and work down to 3.25ish. Long term chart is also down trending.
