April 21st Watchlist Recap

Recap from yesterday's watchlist, in red. 

Prior Day Market: S&P – up 0.1%; NSDQ – down 0.05%; DJIA – down 0.6%

Top watches - $RPRX $UNXL $GNE $VHI $AMPE $BCEI

Second day watch à

RPRX finished below $3 with a low of $2.80 for the day, could not break above $2.95. Predicting a fall to $2. LOOK FOR SHORT SIGNAL. $2.65 new downside to break.

UNXL upwards stair stepper pattern. Strong open on positive news, finished at high of the day $2.35. Breakout above $2.50 for $3. BUY SIGNAL. Broke out above $2.50 as expected in morning spike, bounced once and finished above for the day, $2.88 was high. If it can maintain $2.40 near term support it should break resistance of $2.81.

GNE big spike on big volume historically met with big selling. One day move $6.75 to $8.25. At key breakdown point of $8 after down 0.24. LOOK FOR SHORT SIGNAL. False breakdown below $8 in the afternoon, finished strong at $8.11 and up for the day.

VHI is a crappy company with huge short ratio leaving room for squeezes on a breakout. Uptrending past 8 days with no news or message board chatter, suggests manipulation from $1.20 to $2. Break above $2.10 for $0.40-$0.60 ish. Volume fading suggests short below $2. LOOK FOR SHORT SIGNAL. Still no news, I believe false buying has brought it this high.

HERO broken $3.25 resistance on high volume. $3.50 breakout but look to short in next few days with bad fundamentals and no news, going up with other oil plays.  Potential morning gap up and breakout above 4.30, but short below $3.75 if broken and then below $3 for $0.50 potential. Fell below $3.75 twice but did not hold. Finished bearish. FELL OFF A CLIFF, broke $3.75 and held below, falling by 40% on the day. Bounce at $3 then fell to $2.25. Potential bounce at $2 but fundamentally this is short.

FELP is an energy play moving with oil. Watch for continued bounce to $2.80. Back watchlist.  Not bouncing as expected, remove from watchlist.

SEED is a classic pump and dump pattern where spikes always met by rapid price falls. Morning spike but could not hold into the evening, fell below $2. $1.90 near term support and break down below $1.75. Held $1.90 support but going down soon, not much movement expected, bounce to $2.50 would be better to short on.

CANN rising in hype of 4/20. Crappyyyy fundamentals and no data on shares short – dodgy. PA move suggests bad earnings, short below $1.50 for $0.25-$0.35. Insiders looking to release shares on spikes causing a fall soon back to lows of around $0.75. As expected, fall below for $0.25 loss, once it broke $1.50 it held the near term resistance level, potential bounce at $1.25.

EXK, PLG uptrending metal plays. EXK gapped up from $3 to $3.30 at open, finishing near day high of $3.85. $4 key historical resistance. PLG break below $3.25 to a potential $2.50-$2.75, high volume could not push it above $3.80 intraday.  EXK breakdown below $3.50. EXK gapped up again above $4 but could not break $4.20 and finished below $4, suggests it cannot hold. Bearish day on PLG, broke $3.25 level and expect further downside to at least $3 before bounce. If it breaks $3 should be good for $2.75.

GRAM has had strong gains from $4 to $7.50 in 7 days. 1bn market cap and breaking out to new highs above $8. Watching just to see price action. Expecting it to dip and bounce at $6.50 if it does not break $8. Watching for dip bounce at $6.50 or break above $8.  Continue watching, nothing interesting today.

First day watch à

AMPE due a correction downwards as it has been squeezing shorts. Will watch for short day signs, below $4 should fall to $3.50 but currently on third green day so could go higher. Classic pump and dump signs in history, rising $2-3 each time.  LOOK FOR SHORT SIGNALS. HAD ITS FIRST NEGATIVE DAY YESTERDAY! Finishing below $4 in the afternoon fade. Expecting drop to $3.50 if breaks near term $3.80 support.

BCEI (oil play) has risen from $1.5 to $3; it broke out above $2.6 previous resistance level yesterday. Could gap up, above $3.10 would push to $3.45 resistance. Above $3.45 this is a breakout with strong volume again especially with 15.78m shares short from 47m float, short squeeze potential huuuuge, with added bitter shareholders from 2015. Looks like it could break to $4-$4.50 before pullback based on historical yearly spikes. Lots of message board hype. BUY SIGNALS. Pushed for $3.60 high as expected and did not hold $3.50, afternoon fade finished below $3.

STRP from $30/$31 to $37 in one day with high volume.  Potential dip buy at $35 but more interested in re-shorting on down day especially with strong resistance at $37-$40. Potential positive license news for rise but will not hold. 25% of float as shorts so dangerous for squeezes up.  $34 was better resistance with shorts covering quickly.  

VMW watching to see how large cap (24bn) on positive news on top paying company in US plays out.  Gapped up yesterday from $53 to $56 and touched high of $59.23. Break above $60. Did not break $60.

FCSC good chance at breakout above $3.15 on high volume. Risen $2.30 to $3 so potential for move higher.  XON could break higher in correlation above $38, same as ZIOP above $9.5. $3 support breakdown to $2.75-$2.50, third green day yesterday. following XON. XON broke down below $36, good short opportunity on open with massive volume.

CCLP oil and gas play break above $8. Positive earnings and potential further gains as judged by previous spikes. Low volume play but broke $8 and quickly reached $8.60 (<1 hour) for resistance. Good short if rejected from $8.60 on YTD chart.

CCXI technical breakout above $2.60 on high volume. Strong support at $2.25. Broke to $2.75 in morning spike, could break up again if holds $2.60 support.