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4 Oct

5 Smokin Hot Bottoms Under $3 I’m Looking To Spank For Profits

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I don’t marry stocks, period. I’m a day trader and that means gaming stocks for profits no different than a card shark gaming tourists in Vegas. That said, some of these stocks below I know very well and like long in a bull market while others are simply great chart plays. I’ll have my short list out soon, but here are five stocks I’m watching for entry Wednesday.

JASO’s bottom turned around $1.50 Tuesday and never looked back. Support is at $1.60 with very little resistance until $2 to $2.30 opening the door to 35% from here. Since I’m only looking for 10% on about 10k shares I’d say that’s  chart I need to watch come Wednesday morning. Stop at $1.60 and look for $.10 to $.50 per share long seems like solid risk reward to me. Aggressive stops can game $1.50 support but that’s a bit low for me. Entry is everything, text alert will fly if I find it.

QPSA is a stock I think could triple from these levels and it’s not hard to see why. The stock was trading at $10 recently and if the merger goes through with myYearbook shorts will wish the covered the day before. I like the action today, putting in a bottom well before the market ran meaning $3 is my new conservative stop, $2.75 stop slightly more aggressive. My plan is to scale into the trade with blocks of 2,500 shares and average up as appropriate. Entry is everything, text alert will fly if I find it.

SIRI come the *$#@ on. Car sales are up, SIRI is down. Today’s candle is about as close to a solid hammer as you’re going to get. If I sense a few bull sessions in the overall market is coming I’m going to grab about 20k shares and ride this one back up for $.20 to $.30 per share. Seriously, this is a no brainer once the market reverses. Support is in at $1.40 with resistance at $1.60 followed by $1.70. A break of $1.65 puts us right back in the old channel we scored countless times and I’d be inclined to ride it longer from there. Remember, these guys just improved guidance, car sales are up, NFL games are all on board and more importantly, I can’t live without Sirius in my trucks. Entry is everything, text alert will fly when I find it. Oh and by the way, here is all my wins trading SIRI, proves this is a very, very predictable stock. Entry is everything, text alert will fly if I find one I like.

EK is a piece of &^%$, what else can I say. Just the same their patents are worth billions and if they drop that news on the market, we’re talking about $10 per share upside. Nevertheless, this turd could go bankrupt too, so it’s my lotto play. Crazy thing is, I was short $100,000 EK back when Bloomberg pumped the patent story in August and I was one of the first to label that a massive P&D in my alert. Holding EK short overnight, however, is like a death sentence and my balls aren’t that big. Anyway, I think it’s worth trading when the chart establishes support, possibly off $.90 – $1. Resistance I wouldn’t be too concerned with, just make sure it doesn’t dive on news and we’re good. Small position due to volatility but this could be a jackpot score and I’m sensing we might hear something before earnings in early November. Entry is… haha, screw you!!!

GLUU are you kidding me. I’m buying this stock tomorrow if I can get good entry… bottom line! Hammer is in off bottom, 2-day support established at $1.80. My only regret is not bidding that up but oh well, honestly it won’t matter cause GLUU is a gimme down here and I feel very strongly about this stock in the right market. Resistance at $2.60 and $2.87 so a really good range for anything around $1.80 to $2.10 entry.

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