Challenge account balance: $7,818 up 10.31% in 2011 (No positions)
Main account balance: $237,789 up 14% in 2011 (5k CMCI @ $1.30, 3.4k EXAR @ $6.31, 2k ANIK @ $8.65)
$.25 – $1.00
LQMT still needs to find support around $.42 and then I hope to see buyers come back in, still not short term catalyst that I can see but I know it’s coming. Deal with Apple and Swatch lead me to believe it could be a safe momentum trade when the time is right.
Also moving PLPE up the list but keep in mind this isn’t entry yet. Needs to base and find buyers again before I’ll consider it. Should fall to $.60 at which point I’d expect the company to start working the PR angle again. Lots of bag holders still fresh in this one I’d expect.
$1.00 – $3.00
USAT sold off, as expected, so now that it’s back to support at $2.60 with earnings on the 10th it’s back on the trading block again. No entry yet, need to confirm base but don’t be surprised if I try to go 3 for 3 on USAT having nailed it twice already.
OXGN has been on my watch but I had no real reason to pick up shares. Yesterday’s 27% move changes that and I’ll look to see if there is any follow up today since it closed at the high of the day. The previous two big moves since March were met with no continuation but this time it appears different closing at the high versus selling into close.
$3.00 – $5.00
LOCM shook out the weak on bad earnings yesterday as expected. But it’s not the past earnings I’m looking at when considering a position soon, it’s their guidance moving forward that makes this shake out appealing to me. That and the fact that Groupon could buy them up at a ridiculously low price – especially considering LOCM’s footprint in this space. Several of us in chat after hours tried to pick up 5k shares on the panic at $3.60 once earnings were released but it never made it to support.
$5.00 – $10.00
Since there weren’t formal alerts like I normally send, I’d say watch my two trades I picked up yesterday ANIK at $8.65 and EXAR at $6.31. I think both could deliver this week.