4/1/2010 Watch List | Bulls on Wall Street

4/1/2010 Watch List

 
First, I want to reiterate that I’m still short term bearish, but long term (through the summer) bullish. The market is congested, but some individual stocks continue to be strong.  FSII, FMER and now EXTR (watch tomorrow) are moving off of Monday’s watch list.  Even better, look at the boomers from last Thursday’s watch list – CBB, EMKR, WEL, FTWR, HEV, and THQI.  The bull moves are out there.

Don’t get me wrong, there are some great short opportunities setting up, but I continue to focus on the bulls hiding within.  If we get red enough, I’ll start posting some short opportunities.  In the meantime, I’m heavy cash and reducing risks.  As a matter of fact, I’m only holding one stock in my short term trading account.

So, what’s on the radar for Thursday?

Here are the latest additions to my watch list (long speculative trade setups):

SIRI – very volatile – be careful here if you participate – I am watching for a possible scalp tomorrow off this trendline support and massive volume. Tight stops with entry over .89.

ANO – Attempted to breakout today, but failed at horizontal resistance at 1.55.  However, I’m still interested.  It will need to test again soon and I will only participate on move above 1.56 with tight stop.

HAFC – This stock is not ready for my trading style… but, I’m watching the ascending triangle.  I may not jump in unless this triangle completes and pusses the price north of 2.75. I’ll be VERY interested there.

MVIS – One of my favorite charts right now – Nice ascending triangle with improving volume and tight bollinger bands.  A move through SMA100 and we could be off to the races.  I like an entry around 2.90 with 3.60 target if it gets through SMA200.

 
EGI over 3 could invite some scalpers. Worth watching.

NCT over 3.25 is interesting considering the volume accumulation lately.

ADPT saw some strong volume today. If you missed the move, the next entry point you might want to consider would be above 3.31… needs to prove it can get out of this channel first. From there, it could open up.

UMC – Currently testing horizontal resistance.  We’ll need to see some volume come in here to continue the trend through 3.80.

PAP – Wedged between SMA200 and SM20 with tight bollinger bands.  I like it.  Give me volume and a move up to SMA50 and you may have a buyer.

FIG – Potential horizontal support reversal.

That’ll do it for now.. See you in the boom factory.

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