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Live and on watch for 3/21/11

Live …

As you know, I picked up 5,000 shares of COOL at $2.46 Friday. It has good support in this price range, has had plenty of chance to fall below $2.00 and the longer it holds up here the more shorts will get nervous. As of right now, I’ll make another buy if it dips to $2.25-$2.30. Their net revenues are derived from sales of video games and for the three months ended January 31, 2011 increased to $48.5 million from $29.2 million in the comparable quarter last year. I’m looking to sell into the next pop.

Still holding CHTL from Wednesday’s alert. To see the video click here. I now have 36,000 shares total averaged in at $.187. The current ask is $.193 and has excellent support in the $.17-$.18 range. My goal remains the same here, 15% or so around $.22. This is a technical based trade, specifically oversold Wm%R which crossed the -80 line Friday, so it appears my timing could not have been better. You’ll see what I mean if you watch the video.

On watch …

LQMT announced an exclusive license with Swatch Group Ltd., fluff compared to their exclusive license with Apple. Problem is, Apple is so secretive, nobody really knows what their intent is still. It’s rumored the technology is going into fuel cells. I find Liquidmetal attractive at $.60 because recently, it seems to have good support there. If I decide to enter here, my short-term goal is 15% from this price range barring any major news.

NEXS is a potential short, as early as tomorrow if it starts to break down. Friday’s spike occurred after news of their light bulbs being offered on Lowes.com and in 1,100 Lowe’s stores beginning June 2011. If I suspect it’s going to crack, I’ll be looking for $.25 – $.50 cents before I cover. I believe this news has already been factored into the price based on the run-up, so once the herd loses interest it’ll pull back to support at $3.75 – $3.50 in the short-term..

Another one I am watching hard is GFRE. They just had great earnings, but are getting swept up in the whole small cap China storm. When it bottoms in the $6’s somewhere I will pounce on it. While it’s above my normal $5 range, the upside payoff is obvious over the short-term.

WRES headed up last week while the overall markets got hammered. The CEO just picked up another 10,000 shares on the 11th and I think we have excellent support here in the low $4 range. I’ll be looking to add a position this week with a short-term 15-20% goal around $5.00.

Jason Bond
jason@jasonbondpicks.com

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