Tuesday, January 12, 2010

Stock Watch 1-12-2010

Stock Watch 1-12-2010

Pacific Ethanol, Inc. (PEIX) – This Company produces and sells ethanol in the United States and had a huge trading day. The stock had a 59% gain from an open price of $1.50 to the high of $2.75. This was a definite short squeeze if you check the chart out here. It also started to sell off a lot of its gains after it hit the high mid day, pretty much people selling into that spike I don’t blame them. This is huge potential short if you can find shares.

McMoRan Exploration Co. (MMR) – This Company through its subsidiaries engages in the exploration, development, and production of oil and natural gas offshore. This stock is up huge on news of the new gas find off the Gulf of Mexico (read here) which created a 52% gain from the day’s range of $10.98 – high of $14.08 and holding. This was huge and exciting news for the company, as I see this as a starting point for the return back to its 2 year high of $35.52/share. On the charts here, it has a breakout point at $15.84ish and if it can break that it would not see resistance till $22/share. Potential buy!

Energy XXI (Bermuda) Limited (EXXI) – This companies stock also benefiting from the news of the find of gas in the Gulf of Mexico. The stock had a 39% gain on the day, had an open price of $3.16 with a high of $3.69 and holding. I don’t see this one running to much it has a 2 year resistance level at $3.53; this will be the test if it can break it or sell off right here. I will just be watching this one. Check the chart here.

Tuesday Morning Corp. (TUES) – This Company operates as a closeout retailer of upscale home furnishings…boring! But the stock had a nice 32% gain on the day from good news of its qtr2 speculation of it beating earnings estimates as it sees sales up 5%, read the full P/R here. The company does have a good amount of revenue coming in, although it has just as much debt as it does cash on hand. The short interest has also increased by 5%. On the charts it has a lot of resistance at $4.50ish area, I would only get in if it can break that and if the speculations are true and it beats earnings estimates. Just watching for now, check the chart here.

GTC Biotherapeutics, Inc. (GTCB) – This Company is being pumped by promoters and its hype around FDA approval of a drug. The company is garbage and very sketchy. The stock has been coming back some with a price spike today, as well as from the updated news of FDA approval. It’s funny as you can see from the chart here; it spiked and finished in the red. This will be nice to see it run a couple more days and then short into that.

Misonix Inc. (MSON) – This Company spiked 21% from news if it’s new distribution agreement for Peru. It also recently released earnings of $-.17/share but on the charts has been spiking some, to me it seems a mix of this deal and short covering. It has a lot of resistance at the $2.60ish area which it tested and failed to break today. If it can break it could be a huge breakout for this stock, but I don’t see that happening. Potential short, Check the chart here.

BioFuel Energy Corp. (BIOF) – This Company engages in the production and sale of ethanol. The stock had a nice 20% gain on the day with a price range of $3.42-$4.15, although it had a slight sell off in the afterhours back down to $3.45. The beauty of this stock is the chart. It is on the verge of a breakout right here at $4.12ish. I will wait to see if it gaps up tomorrow and breaks out, this could be a nice buy if it can. Check the chart here.

China Infrastructure Investment Corp. (CIIC) – This barley made my list; it is a china play which means “Sketchy”. Today the stock had an 18% bounce from its support at $2.00/share. This was a pump and dump as you can see from the chart here, it spiked a few days then completely dumped, which if you could find shares would have been a nice short opportunity which could explain its gains today from everyone buying to cover. This does have the chance to spike again, which you could buy the bounce but would be risky because the dump is over and it could trade towards the downside from here. Check the chart here.

Amylin Pharmaceuticals (AMLN) – This stock is the one to watch, as it is on the verge of FDA approval and on the verge of breaking out big time. Good news could make it happen. It is currently at that breakout point in the $15.77 area, if it can break threw it will be a nice breakout buy where its next resistance is not until the $19 area. The volume is also picking up as it gains publicity from the drug news and the talk about health care all over the news. I will watch this for a breakout buy, check the chart here.

TASER International Inc (TASR) – This Company still getting the hype around airport security, it manufactures devices for security not only for the private sector but also the government. Today it had a nice 11% gain and on the charts it is a technical breakout (yea I love breakout buys) Which if it holds, can be a nice swing trade as it rides the hype wave, and the sell signal being the first red day or it starting to retrace back to the support level of $5.80/share. I see it gaping down in the morning, and if the bulls are strong will pick it right back up and keep going on strong volume, otherwise watch for the dump as this can be a risky trade. Check the chart here.

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