The following was sent to TIMalert subscribers the night before so they were fully fully fully prepared for Tuesday’s trading session:
Happy Holiday weekend guys, not sure if you know, but I’ll be doing a free hourlong speech this coming Sunday 8-9am, then a book signing at 9:15am for my book “An American Hedge Fund” at the Trader’s Expo at the midtown Marriott Marquis in NYC. You TIMalert subscribers should definitely try to come if you can because I’ll be reviewing my 3 favorite patterns—the ones on which I pretty much base all my trades—so it’ll be great if you guys actually learn them and ask me questions in person! HERE are the details
Lots of potential plays on tap for tomorrow, best be prepared with key breakout/breakdown points ahead of time.
HRZ finally broke out higher, after days and days of trying, nice quick morning spike as detailed in, yup, guess which DVD, PennyStocking Part Deux!, from the low $4s to the high $4s…I thought about buying into the market close for probable gap higher, but the sellers are so entrenched and the market could really fall off a cliff, I held back. Let’s see if that was wise, methinks the potential gain is only like 2 cents/share aka not worth the risk.
ARNA I almost shorted into the market close, it being the first down day of the pattern…yes, it woulda been a great short Friday morning, but I prefer afternoon fades. Considering its gapped higher each and every day lately and earnings—no doubt accompanied by sugarcoated CEO statements, again, I held back—very proud of myself for not rushing into this or HRZ, neither were worth the risk.
ASIA keeps surging on solid earnings, even took our resistance at $13, lots more resistance coming in the $14s, I wouldn’t buy or short it here, potential buy though if it somehow breaks $15, but I’d love consolidation before that happens, doubt it’ll have that much gas this spike around.
ASTM is a potential buy on news from White House adviser that Obama is considering sooner than later unbanning stem cells, this could get ugly for shorts
GERN is the in the same boat as ASTM
STEM is the same as ASTM and GERN, all potential buys as this news could lead to a serious multi-day rally if they don’t go up too much all at the market open
BBND reported solid earnings and spiked, but met tons of resistance in the low $6s…potential buy if it can ever clear that area as then, and only then, will the buyers prove themselves determined to keep this thing going higher
PALM broke out of the key $9 area to $9.50 then faded gradually throughout the day…great example of a fakeout breakout, shorts get scared, then they get confident, this is a potential buy on a breakout of $9.50, potential short everything under that—understand?
ISTA just keeps rising gradually, earnings on 2/19 will make or break this runup…my guess is break it, but I won’t short ahead of time due to the risk of potential good news…it’s only a potential short.
PCX won a court case and really surged intraday, made for a good short, but I was filming LiveStock so there wasn’t time for me to do proper research…I’ll never enter a trade without researching it first
MEE is the same as PCX, just 3x the price
MELA released some seriously good cancer test results, stock popped 80%, I almost bought some into the market close for possible gap higher Tuesday, but not with the overall market so fragile and it couldn’t take out the morning highs…potential buy if this thing can take out $6.75…it could run $1-2 quickly, squeezing the shorts, any TIMalert on this stock will probly be too slow, so watch this like a hawk…beware of fakeout breakouts, as in it breaks $6.75 then goes down, gotta get out quick in that case…
ZAGG is holding near its highs, but I don’t think it can breakout in this market without some seriously good press release to get the volume up…potential buy, but just watching for now.
Tags: Potential Plays
