When I swing trade I stalk stocks first, bottom line. My subscribers will tell
you how I constantly talk about LOCM or COOL before I nail it for a few thousand
dollars time and time again. Bottom line, I like to know how it trades daily
before Im going to bid some shares. Here are 3 Im looking at moving on in the
near futuremind you these arent buy and sell recommendations. Biolase Technology
(NASDAQ: BLTI) has earnings coming up 11/1/2011 and Im looking for entry to ride
some runup. Nice pop on their last earnings 8/10/2011 or over $1 per share which
is precisely what I look for in a trade. Additionally, I like the trend on BLTI
here as we start to see an ascending triangle toward $3.90 resistance, break
that and this one should move another $1 per share, possibly more into the $6
range. Higher lows toward a top trendline on light volume is always a good sign.
I told you yesterday that Im looking to buy Quepasa (AMEX: QPSA) off the $4
range and thats still my goal. Channel is nice between $4 and $5.50 with a stop
at support or $4. Keep in mind, each time a stock tests that support its not to
be taken lightly, if $4 goes Ill shift gears, sell and short QPSA. I do think
the upside for good news and catalysts at these levels, however, outweighs the
risk of buying at $4 with an $.10 to $.20 cent per share stop. Earnings are
scheduled for 11/8/2011. Glu Mobile is a stock Ill be long soon, especially if
it holds the $3 range this week. With earnings coming up on 11/2/2011 and Zynga
as an additional catalyst, if GLUU holds $3 Im trying it long because this could
be a sweet ascending triangle breakout above $3.50 to $3.60 which actually
allows us to take profits before the top trendline break and buy back with a
tight stop or double dipping if you will. Remember, Im always gaming $.30 to
$.50 per share as a goal or $500 to $2,500 in profit per trade. Ideal stops are
-$300 or less and often my stop is a tiny win for $50.
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