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24 May

Watch List For Wednesday May 25, 2011

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I’m 3 for 3 on LOCM for just under $10,000 in verified profits and I’m considering putting that track record on the line again here around $3.20 per share. But it’s not just because LOCM is near the 52 week low and has held support twice, there are other reasons.  It’s been about a month since the earnings dip and I’m hoping that means the company has some ‘real’ news soon which could spark a short squeeze again. Price tested $3.20 again today and it held, maybe it’s time to grab some LOCM again if it starts creeping back up. In no way am I in love with LOCM but it’s been paying the bills so I’ll keep it on close watch here. Goal of $.50 per share between $3.20 and $3.80.

(I need more sleep, the form 4’s were stock options, not open market purchases but it’s still on watch)

I still like USAT here around $2.00 per share but there was no reason to buy today. Like LOCM, I’d really like to see the price action start to climb or the company drop some news first. I’m guessing the 20 and 50 MA’s just ahead won’t act as strong resistance if it starts to move so I’ll be looking for $.50 cents per share on this trade after I enter.

I alerted HDY after buying shares at $3.28 the other day when they had good news and took profit at $3.48 that same day. Now HDY is getting major media attention which leads me to believe we could see another 10% run from here. I think shares are going to break the MA(50) at $4.43, price action resistance at $4.57 and slow down around $4.80 to $5.00 in the short term leaving ample opportunity for $.50 cents per share. If the market turns green tomorrow there is a good chance I’ll be jumping in.

TBBC dipped today which is exactly what I was looking for since I traded it back at $1.21 for profit. I don’t trust this stock at all but it could be good for a trade now that it’s pulled back some. I continue to watch for entry and if I do, understand it’ll be with a 5% or less manual stop, finger on the trigger the entire time. See my ESYL loss on Profit.ly if you’re new to trading manipulated stocks like JAMN, LEXG and TBBBC. This pullback is classic in large stock promotions to shake out the weak before another move up but you can’t bet on the shake, you have to be prepared to cut losses immediately on these types of manipulated trades.

 

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