Back on October 3rd I predicted the bull market ahead and we’ve been up ever since. Possibly luck, possible skill, who cares cause things look good. Since then, despite all the media scare, I’ve repeatedly said my instinct suggests we’ll break the bear channel and head higher.
As such I tried to position in several swing trades that could benefit from such such a move. So today of course I’m thrilled to report Asia was on fire last night, Europe is rocking right now and futures are smoking hot so far. This of course bodes very well for our 3 Nasdaq stocks; GLUU, QPSA and WAVX.
Here is what I’m looking for on our three open swing trades. No watch list today, just focusing on these plays because I believe that’s what my subscribers deserve.
GLUU needs to break $3.10 today, if it doesn’t I’ll consider moving on. A break of $3.10 should signal a new move into the $3.20 to $3.45 which is where I’d like to get it before earnings next week. I still maintain a close below $2.90 is our key to consider moving on but right now, even in choppy markets it’s held that level.
QPSA is up $.70 from my alert right now but I think we can score more on this one. I’m not recommending it here, but willing to hold since our entry is so favorable at $2.95. I only have 3,000 shares but think this $10,000 be I made could double if the myYearbook news hits. Current target is $5 based on that speculation, anything above is gravy. Short interest is still high so it’ll be interesting to see what happens today.
WAVX is our technical channel play and we’ve executed our plan perfectly, not easy to do when a stock is dipping but stick to the plan. When I first bought 3,000 shares at $2.61 I said I’d be buying another 3,000 share off the bottom trend line. Watch the video I did to understand why I’m in this trade. If my analysis is correct, buyers keep coming in on the major dips causing higher lows and eventually a breakout above $3 which is my target. This is a classic ascending triangle and as such should breakout above $3. Stop on this trade is below $2.40 as that would signal a shift in the trend.