Stock Watch 4.14.11 ” Chipper Shredder”
I was the ultimate chipper shredder trader Wednesday. No real huge gains but I was highly accurate and I chipped and grinded away little profits and at the end of the day I had nice profit. Pennies make dollars, right? Going into Thursday I have to bump SIFY and SWSH to the top of my short watch. They are do for a heavy sell off. It may not be Thursday but the short is in the mail.
Watchlist Longs ESLR CAK GTXI ZOOM
Watchlist shorts : BAC CCOI ART
Swing Play DGW
ESLR CAK GTXI ZOOM ( The fabulous 4)
I could do a write up on each stock but no need. Each one of these patterns are virtually identical in nature. Huge bounces off consolidation. However, all these bounces are overextended. There could easily be a day two run but I don’t see it lasting past lunchtime. If any of these gap and run wait until they top out and short them. If they have flat opens or are slightly red buy them if the cross into green or they spike off consolidation. Sounds simple enough yes? Both way plays.
BAC
Not a typical short play for me because of the market cap but I can’t ignore that chart. This thing is on thin ice. If it drops below 13.17, short it and ride it to 12.
CCOI
Earnings call was not so hot and neither is the chart. Stock has been in a downward spiral for a while and now it’s dumped on 52 week lows. Any weak spike would be a good short opportunity.
ART
This chart is a work of short art. This inching up pattern reminds me of a typical OTC pump. Probably shakes out more longs tomorrow morning
DGW ( swing)
This stock was murdered about a week ago but since it’s flattened out. I’m not saying it’s a great company but charts like this tend to bounce. The gap fill area is about a $1 away and the risk is limited. I would entertain a buy around 3.40 to 3.55 stop at 2.80 upside target of 4.80. Call options are available on this as well.
