Watchlist for 10/29/2009

AMLM’s tank today and NXTH’s tank yesterday are good examples of why you should keep pump and dumps on watch every day. I had featured both of those on watchlists but didn’t put them back up every day. I assume that my readers will keep track of those stocks that remain in play.

QTM – No play now, up on earnings from last Tuesday evening.

NNVC – Crappy company on 50% spike at resistance? Do you have to ask? Short on red. Had a positive press release Monday morning but the stock didn’t spike until Wednesday.

nnvc

NXTH – Nice bounce, short on red.

nxth

Music to short to: Ladysmith Black Mambazo, The Moon is Walking

Disclosure: No positions in any stocks mentioned in this post. I have a disclosure policy and you can find all my disclaimers there as well; those disclosure & disclaimers are incorporated by reference into this post.

25 thoughts on “Watchlist for 10/29/2009”

  1. GTN looks ready to bounce, way late on shorting that one IMHO.
    MESA looks the same.
    john, tell me the truth, did you really look at these charts? 🙂

  2. certainly did… i think its bout time they break through their support line…. not bounce… CAR and USEG for example, IMGG, possibly also ready to crack…

    Zoom out 3 months then you’ll see what i mean. GTN is up from.46 since August

    i understand you think they are in a sideways pattern but i think we’re directing attention in a downward market than anything, and that’ll drop all of these high floaters. XJT might possibly bounce as its got the support line and 50SMA. XJT could also crack $3

    I’ll watch them instead now because you questioned it. thanks for warning and i cant wait to see what they do.

  3. I’m watching as well, thanks for explaining your position. After I wrote the comment I started thinking general market direction, which I have not done in some time and they may affect them.
    I can see USEG falling to 4.00 easily, but it’s down so much already. I guess I’m not very good at looking at these type of plays.
    I will certainly follow along though.

  4. I really have no idea how that happened. I have another monitor hooked up to my laptop with several screens open, I must have hit send by mistake.
    Delete it if you can.

    1. No duck for you! A fat-fingered trade by its very definition (and I’m not the one to make that definition) is a sudden accidental trade. For one of those to create a spike I’d want to short (a potential fat-fingered short) it would have to spike 30%+ (really, 50% plus) in under a minute; for low-priced stocks under $1 I wouldn’t short unless it spiked 100%+. RGTX is going up, but not that much, and not on huge volume.

  5. USEG has resistance at 5.70. been holding for awhile.
    CTDC is trying to be manipulated up. someone keeps placing Buy orders above the current asking price.

  6. Reaper,

    Are you still contending that NNVC is a good short, it’s red on the day but has traded sideways since late morning. I’m considering a short and hold play, as the S&P is up 180 bps and this can’t go green on the day. Thanks.

    1. Here, now, I have no clue. I don’t have shares available so I won’t worry! Odds were always against this being a great short: it is too cheap and it has only spiked one day and its volume isn’t very high.

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