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15 Jun

Watch List For Thursday June 16, 2011

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RENN just can’t get it’s act together but the volume is still strong so there are predictable intraday chart patterns with decent $.30 per share opportunities. Short and long biased here.

CABND was my top short candidate on watch lists this week and now you can see why. Problem is none of my brokers could get me shares so oh well. I’ll still be looking tomorrow, goal is $3.00 in the short term.

RITT was on my short list today but I couldn’t find any shares and I woke up too damn late to reserve them this morning. I still think it could collapse so I’ll be up early Thursday morning reserving shares to short. Goal is to short into any spikes.

MOBI is holding $6 right now but it’s not reassuring enough for me to jump in yet. If it starts to turn back up I might consider a starter position. If it doesn’t, $5 per share looks a lot more attractive. No short here because it’s just too close to major support.

I’ll be going long on COOL soon but not yet. A few guys in chat jumped in today around $3.30 and I think that’s okay so long as you keep a tight stop on any major dip. If $3.30 holds and it starts to turn back up I’ll look to ease into the trade with a starter position adding with confirmation. Earnings were good so I expect COOL to burn and turn once all the shake settles.

I’m short ORS overnight per my late chat room alert, there was no time for a text or email. Shares broke down and I decided to get in for a potential gap down Thursday morning. I’ll add to my short position on spikes or on a sell off. I don’t think ORS can hold these levels for long so I’m hoping to see low $4’s by Friday.

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