Watchlist 6/14/2010 – A couple decent setups.

A couple mediocre trades on Friday, probably trades I would not have made had it not been a week since I entered any positions. Also the desire to trade was magnified by the fact that I was stuck at my desk all day so had time to watch the markets. Hmm those are two great reasons to make a trade…. Ugh. Although I do normally do well on plays on Friday’s, but still nothing to get to excited about and now futures are up considerably. I will dump them both very quickly at the open, unless they fade all day.

Full list from Yahoo Finance

APWR

Shorted this Friday mid morning, when it looked like it was going to crack $9 hard. It spent the rest of the day bouncing around right at the $9 level. Annoying. But since it never breached my cover alert I decided to hold it. Not crazy about it since there is resistance all over the place. SHORT

NLST

A name from the past that I had shorted successfully and deeply regretted not holding more long term. Highly doubt I will trade it, but I’m curious to see what will become of this recent spike. SHORT

NSU

Another short that was probably created by idle hands. But an interesting play nonetheless, I was a little late to the fade in the afternoon, but shorted at $3.50 when it looked like it was going to fall apart. Up on no news and the company even made a statement that they have no idea why the price is up. Probably just should have taken the quick 10 cent scalp and closed before the weekend, but I decided to hold through the late day spike. Biggest reason I held was about 10 minutes to the close I told myself, “I bet this squeezes a little into the close on short covering”. While being right about a short squeeze occuring does not make it a good trade, it is encouraging to have an idea of what the price will do before it happens. I’m only down about 2 cents a share at the closing price, so we’ll see what today brings. SHORT

PBTH

I tried desperately to short this early. As mentioned in my watch list it was my number one watch by far! I could have had shares pre market and came very close to shorting it then, but I hate trading premarket, especially on the short side. Moments after the open I could find no shares so was forced to watch it drop roughly 75 cents. Bummer. It did bounce and ended up finishing strong. It is still on my short watch but much more on a fundamental basis then a technical basis. The company looks like shit, but the price action and the chart are strong! I’ll be looking to short but waiting for it to show much more weakness. SHORT

Recap from Friday:

APWR

Already recapped above, if you somehow magically picked the top at $9.50 this could have been a good short other then that I tried the crack of $9 and it was stalled. We shall see what happens today, but on Friday this was a non play.

JSDA

Thank goodness I didn’t get sucked into this boredom manufacturing machine. I still stick to my thesis that its a good long term short but the constant 15 cent bouncing around it does its annoying beyond comprehension!

PBTH

More or less recapped this one above too. A good morning panic if you could find shares or if you were already short from Thursday, other then that no play.

TTCS

Total heart breaker!! I could find a few shares but was to cowardly to execute a trade. Plus the share number I found was so small it probably would not have been worth it, but what a killer play!! I think it was down over 50% mid day and finished down 37%!! Need to work on hitting these more aggressively, soft ball piece of cake short!!

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