15 Jul

Hot Penny Stock Watch List For July 15, 2011

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BQI had decent news this morning after a sell off recently. Watch for a bounce play here. Depending on how many buyers come to the table, there is little resistance until $.32.

YRCW adjusted their earnings which are expected to climb. The stock is trading actively here in the premarket so it’s safe to say they’ll be plenty of room for scalpers today. Difficult pill to swallow since I was in this one earlier in the week but should make for good trades today on this liquidity and positive news.

SCEI is making a powerful move and the chart isn’t even overbought yet after coming out of oversold in the beginning of June. If shares hold $1.92 then it has no major resistance until $2.75.

LOCM has been dropping some decent news on the market and I’m sure there are some stubborn shorts still hoping for a pullback to the $3.00 levels. I watched it creep a bit in AH Thursday and it’s getting a few more nibbles this morning so keep it on watch. The idea here is that it’s Friday and the longer it holds $4 the more buyers it’ll bring and possibly squeeze shorts today – especially with earnings coming up on the 25th.

Redundant yes, but COOL above $3, like USAT above $2 appears to be a safe bet. The closer you are to $3 the better, but it also decreases the size of your stop. I’m confident this will hit $4 short term so I’ll jump back in again soon.

 

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