April 27th Daily Watchlist - 9 rewatches, 5 new watches

Prior Day Market: S&P – up 0.1%; NSDQ microcap – up 1%;

Top watches - $FMSA $BCEI $CBAY $GSL $DRWI $SAH

Having to get meticulous with my watches, narrowing down my searches and choosing only the better plays to watch.

Top watches à

FMSA high short Ratio could squeeze on breakouts above $4 but bearish view. Short below $3.80 targeting $3.50 and $3.20. Potential HOT PLAY as spikes historically have been met with quick selling after four/five days and 1.6x price in 10 days.

BCEI stock nearly doubled in ten days and fundamentally weak, showed a change in momentum here, could not break previous day high of $3.90, 7 times in two days (30 min candle), should fall to $3.40 and if strong b/d to $3. Good one to watch tomorrow. Energy plays seem to be hot at the moment but “lesser” companies will begin to crack.

CBAY had really low volume all day until spike in last 10 minutes pushing above $2.64 and finishing at $2.81. Look for rejection at $2.89 for momentum shift downwards, and break below $2.64 for big move down to $2. Previous spikes of three/four days met with selling.

GSL up from $1.30 to $1.8 but lots of historical resistance above $2 line. Always dropped on spikes. Look for rejection at $2.10 or $2 to short. Fundamentals support theory that this is up on manipulation. This is one to watch in next few days if volume picks up!! Consolidating after three strong previous green days, good for short below $1.80 for fall to $1.50. SHORT.

DRWI spiked in April, now bouncing with no news, looks like CFO sold $4million in shares after close yesterday. Short below $6.40 and b/d $6.20, bitter shareholders from price drop will sell into spike. Low market cap and overextended on book value. SHORT

SAH is an automotive repair/dealer with fairly large cap. Watch for break around $20, prior spikes have fallen. Earnings winner so looking for b/o above $19.20 for $1 per share and above $20.20 good b/o. BUY

-------------------------------------------------------------------------------------------------------------------------

Multi-day watch à

UNXL had a double top. If it cannot break $2.25 support on high volume another potential short back to $1.75 again.

LGCY oil and gas play – hot sector! broke out above $1.60 ish on high volume. Long term crow pattern (dying), always falls on spikes to lower lows. Look for consolidation then weakness. Consolidating below $3. Good for short to $2.40 and $2 target below that.

AVXL up on positive Alzheimer drug news. $6.35 BO and $6.50 push through on high volume. Fundamental’s not dire but would consider shorting below $5.90. B/d below $5.90 but bounced. Mistake suggesting to short below $5.90 on good news!! Especially with biotech sector reaching new highs. Look for b/o.

BTUUQ pink sheet highly volatile and liquid. Gone from $0.60 to $1.60 in ten days. $1.78 high to break. Poor company stats but potential for high squeeze given 58% short ratio.  Squeeze during morning spike and high volume by 26% but lost all gains in afternoon. Losing momentum, watch for green to red switch.

VKTX broke $1.55 in morning spike on high volume. From $1.20 to $1.7 region in four days (40% gain). BO above $1.80 and holding $1.65, previous spikes always sold into (LT downtrend) so look for change in momentum to the downside with first red day; green red switch on daily. On breaking previous day close and low it fell in panic and bounced around $1.40. Breaking back below $1.50 good for short to $1.35.

First day watch à

SMMT massive volume and approaching yearly highs of $13.20 up on FDA clearance for US testing phase 2. Only interested if breaks yearly highs for b/o and strong volume. BUY

CALL a good spike and drop historically, quite a big company with ok fundamentals. 18% shares short leaving room for good squeeze. B/o above $6.40 with potential for $7-$7.20 if high vol. squeeze. BUY

GPL b/o of key resistance level since start of 2013. Trebled from 50 cents/share to $1.50 but will it reject at $1.75, could cause big sell off from long term shareholders as seen in the past. Looks like a Rodman and Renshaw pump and dump, let’s see how high this can go before the dump.

Secondary Watches à

RPRX began falling finally, at $2.50 area, strong area for break below. Down on day below $2.5 as expected during high vol. in morning. Could not break $2.40. If it can break $2.20 it could drop towards $1.

SEED is a classic pump and dump pattern where spikes always met by rapid price falls. Strong movement at end of day as a result of changing directors pulling above previous high of $2.26. Look for dump. Gap up after hours was met by furious panic selling on open after news went public, did not bounce strong. B/d below $2.08 could head to $1.80 but bulk move is now gone.

NEOT breakout above 1.22. Not a great short squeeze opportunity. High volume trading but news not apparent. Gone from $0.70 to $1.20. Holding $1.25 intraday but finishing low. Stock has now doubled. Drop of 10% intraday after breaking $1.25. Will not trade below $1 but potential to fall to $0.70-$0.80 below $1.

HTM 52W highs after breaking $0.70. Key resistance at $0.85 area. Renewable energy play with ok fundamentals and at book value. Not a great play IMO but overextended, and SEC filing reveals shares financed at a discount at $0.72 area. Watch on back.

CCLP gas and oil play from $6.50 to $9 in four days. Expecting fall after fourth green day. Target $8.20 (7%). Broke above high of $9.18 and went to $10, historically $10 has been strong support. Momentum turning round and looking good below $9.10.

MCUR has crappy company fundamentals IMO. Down 17% on the day and bounced at $1.25 like predicted. Putting on next day watchlist to see extent of bounce but will only look for shorts now, cannot even hold two days of gains.