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2 May

Watch List For May 2, 2011

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Starting next Sunday evening I’m adding another feature called, “Swing Trade of the Week” which will include a video chart, brief analysis of why I think it’s a good swing and price targets / stop loss. It’ll be a liquid stock in the price range of $1.00 to $5.00. This will be posted to it’s own page and provide a nice short term option for anyone looking for something like that.

I’ll also have the education page in place this week as well.

Always note, previous watch list stocks remain in play but current watch list stocks are closer to a trade at the given moment for one reason or another. As you saw in my watch list tutorial, I’m always cycling stock in and out looking for the best trades.

Challenge account balance: $8,029 up 13% in 2011
Main account balance: $236,376 up 14% in 2011

$.25 – $1.00

XNNH, VCST, LQMT round out this list to start the week but all still lack liquidity. These are real companies and they all could fly in the future for a number of reasons but lack immediate catalysts for entry.

LQMT or Liquidmetal Technologies had great support at $.50 for quite some time but now you see why I didn’t enter… once a catalyst is in place you can bet I’ll be grabbing some shares. Like all small companies, they’ve got their fair share of problems but their $44m market cap and deal with Apple and Swatch makes them capable of big returns if we can just get the timing right. A little bit of buying Friday gives the perception of a hammer candle off $.44 but I’m not convinced yet. The next good support I see is around $.42 so lets see if it touches there this week and watch for any sign of good news.

VCST develops streaming video and mobile networks technology. The swung to Q4 profitability with full year revenue up 25% and guidance looks good for 2011-12. You might see a bit of profit taking here soon since it’s up quite a bit from the $.20’s – $.30’s which is why I’m not a buyer yet but I am considering it because a break of $.44 should send it to $.55-$.60 which would make for a nice trade. I think I’d like to see it settle a bit first though.

XNNH is a provider of high intensity illumination and night vision products and they have over $2m in cash on hand. Back on February 9th they announced net income of $742k on $3.5m revs. It sold off on the news hitting a high of $.65 leaving me to believe the current pullback price is attractive here heading into Q2 earnings which they have indicated should be profitable. With net income, revenues and big contracts, this $10m market cap makes it a true penny stock and it could fly on the right kind of news.

$1.00 – $3.00

GTN or Gray Television, Inc. is a television broadcast company headquartered in Atlanta, GA that currently operates 36 television stations serving 30 markets. Click here to watch my video chart on why I might buy GTN early on this week.

JMBA is starting to pull their act together and was on my watch list last week too. I was hesitant to trade when I first alerted it in the $2.30’s because $2.40 was resistance and it just felt like I’d be chasing it. Now that it’s knocked that wall down I’ll be watching the price action close this week.

$3.00 – $5.00

I’m 0 for 1 trading LRAD and it’s trading thin right now but I think it could be a decent scalp in the early part of the week heading into earnings on Wednesday. They’ve projected record quarterly revenues but investors are concerned it’s not going to be recurring. My thought heading into earnings Wednesday is that if volume starts to pick up and it looks bullish I’ll try for a $.30 cent scalp between $2.70 and $3.10. I don’t really play through earnings as you know but in this case it’s a bit different. The company already disclosed their expectations on April 6th, hence the large volume bar. Now that the price has since pulled back there is good support at $3.60 which would act as a quick stop loss in the event I’m wrong. Market cap is $82m.

VICL researches and develops biopharmaceutical products based on patented DNA delivery technologies for the prevention and treatment of serious or life-threatening diseases. Financial results are coming out Thursday morning and the chart clearly shows a break of $4.12 could open the door to $5.00 – $5.50. Not sure I want to be anywhere near a biopharm heading into financials, the only thing more stressful is holding through FDA approval. In this case though it might be worth the risk for what could be a $1.00 per share run. Now it broke out to a new level on Tuesday, so there is the chance that it pulls back prior to Thursday morning so I need to do some more digging before making a decision here but it’s on the list. Market cap is $266m.

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