Stock Watch 4.5.11 “Slow Dancing”
Monday had some great action in the a.m. followed by dudville in the afternoon.Reminded me of slow dancing to REO Speedwagon in the 80’s. The market is working it’s way back to highs. A key break of the SPYabove 133.77 would most likely send it to challenge the previous high of 134.72. For Tuesday I want to focus on some of the previous watchlisters that still are in play. Starting with COOL WPRT MCZ VHC and DAC. Other than MCZ all these are parabolically stretched but under extreme momentum. Honestly they can go either way so I’ll remain unbiased but should be many plays in these names,
Watchlist Longs CT VSCI MFN. Shorts SGI FSIN
CT
Setting up a double top on the daily. At least looking for a challenge of $3 and if it hold this should go higher
VSCI
Clean breakout on the chart. I think there is a $3 run in this as well. Has to hold up above 2.50 to remain bullish
MFN
The daily break out point was 13.20. I had a pretty good set up late in afternoon trading and bought some. There wasn’t enough time in the trading day for it to take off. I’ll look for a place to get long tomorrow providing it doesn’t gap up too high
SGI
Like the breakdown look from the top. This has to have a hard time breaking out or fade to below 19.40 to short
FSIN
This chart is in deep trouble.Clearly broken down on the daily. Look for the strength of the spikes to determine whether this pans out as a short
