Potential Picks For Traders With Dow Flip Flopping All Day
ZN crashed 32%. Movements like these is every trader’s dream/nightmare depending on which side of the trade you ended up. ZN reversed too fast to do anything. Add to that there were no shorts available. Sucks…
SWHC is my #1 short. It did break the 200 dma on the upside, but will it hold is the question. On the break of $4.00 this can run up more, so anything above $4.00 should be your stop loss. Volume has been impressive too. Will be watching it closely. RSI in the extreme overbought case.
MYL is a bio-tech company that is on a continous up-trend. It was up last 6 trading days. Volume is slowly dropping indicating less buying interest. Wait for the early longs to exit and it should provide a decent drop. The continous up-trend suggest scalping only. Bio-tech stocks run up on FDA news and don’t really follow the overall market. So you have to be extra careful shorting them.
CECO is an education stock that has seen some nice pop and then drop and now pop again. See how the volume is fading now. It has broken out of its $23.50 resistance, but now it needs a breather. Potential short.
SNDA is pretty close to touching its previous high of $34.01. This could be the double top for SNDA. RSI is approaching overbought levels. It has had 4 up-days now. I will be shorting this anywhere in the $33.50-$33.75 region hoping the double top holds. Stop loss obviously on the break of $34.00
HPQ long worked out perfect as mentiond in previous post. Once it double bottomed it rallied nicely providing almost $2.00 gain. RSI is improving and I expect some more up-trend to sell into.
Other Potential Short Trades are: HTH, CAB and AIPC.
Other Potential Long Trades are: LDK, LNT and ADS.
[...] was one such play that took a huge dump in the morning. I had listed it yesterday as a potential short play. I was dead right on it. However after dropping back to $22.00 it started rallying today. I was [...]
[...] Shanda Interactive Entertainment Limited (SNDA) is an interactive entertainment media company and an operator of online games in China. SNDA was a potential double top. After making a second attempt to move towards the all important $34.00 resistance, it failed. Eventually shorts saw this as an opportunity to go short causing it to end the day -2%. SNDA short trade was listed in my previous post. [...]