Stock Watchlist 3.31.11. ” Sneaky SPY”
Micro caps tend to move on there own outside of the overall market trend. You could say that Micro and small cap stocks are the “black sheep” of the market that nobody wants to talk about. Anyway, I don’t always pay attention to the DOW S&P etc as much as I should. That brings me to the realization that the market has ripped from the bottom doom and gloom of a week ago and looks to try and challenge the recent highs. Amazing that just a week ago the world would come to an end and now all is good again. Traders are definitely bi- polar if nothing else.
Watchlist AMIE MELA HYGS WRLS MIND
AMIE
Up over a 150% in 2 days and volume is over the top . We might be in the early stages of a pump so it could rip a lot higher. Definitely looking to short this at some point.
MELA
Ripped through the technical breakout of 3.50 . As long as it consols above that it could run towards 4/4.10. If not it should retrace 5/6%
HYGS
Beefy earnings, stock is now parabolic. We’ll see how it reacts Thursday. I don’t like to chase breakouts on stocks up this much and I’m not a fan of shorting earnings players but I’ll keep on watch
WRLS
Nice cup without the handle. I think this is just a bounce off the low consolidation area of 6.50. If this can’t touch $8 I probably will short it
MIND
Very stretched breakout. These patterns are typically unsustainable but shorting them early can be disastrous. I wouldn’t short unless the stock was actually red.
