Tuesday, July 19, 2011

Watch list for Wednesday 20th of July.

Didn’t get to trade much today. Just shorted VALV and covered too soon like a chicken. Would have been easy $200 but made about $40 out of that. Sold my LATI for $40 gain because many traders are looking to short it.  So here is my watch list for Wednesday 20th of July:


Legend Oil & Gas (LOGL.OB)
Potential short tomorrow. I will let it tests $2.40 before going in or maybe break to re-test $2.50 before diving back to earth again. If this open weak and not trending up in first 5-10 minutes I’m going short right away. Risk of 8cent/share for a gain of 30cent/share. This is a very good risk/reward trade in my opinion.

Respect Your Univers (RYUN.OB)
Looks like it’s losing some streams here and going into parabolic action on daily chart. $2.4 resistance and if this breakdown $2.2 then we might see big red candle. Potential short, preferably on failure of second spike retest high.

Rite Aid Corp. (RAD)
Huge volume came in last 30 minutes before close. This could be 52-week technical breakout here. $1.40 is the key resistance.

Shenkai Innovations, Inc. (VALV)
Still a short potential. Morning squeeze could really provide some good short opportunity like today’s price action. No real support until $3. Will let it test $3.60 again before shorting it.

Royale Energy Inc. (ROYL)
Another short potential. Form double top around $4.17, and no real support until $3.20. So it’ll be a great short if $3.80 break tomorrow down to $3.60, $.340 etc.

Liberty Silver Corp. (LBSV.OB)
Still nice trend here, late day volume tells me that they trying to support it to not going red. So my target on this one still $1.00.