Tuesdays short list produced multiple winners with Renren Inc. (RENN) stealing
the show closing down -8.47%. I would have gone short, but I was busy buying
CLSN which we cashed in over $500 on today as a day trade. My chat, text and
email alert shorting XTXI as a swing has us up $300 so far but no trade is over
until its closed, well see what tomorrow brings. Subscribers can click here to
read my thoughts on our existing XTXI short . With the US markets rolling over
into the close and Asia down at the open as I write, I think well find some
solid shorts Wednesday. Here is what Im eying up this evening. Orexigen
Therapeutics Inc. (NASDAQ: OREX) got a big bump from the FDA in after hours
trading rising over 80% from its $1.47 close. Im thinking itll continue to spike
from the AH $2.73 close into the low $3s which is where Ill look to take a short
position as a day trade. Optimer Pharmaceuticals Inc. (NASDAQ: OPTR) might go to
$20 before it cracks but one thing is for certain, this stock is overbought
right now and bound to fall a few dollars per share soon. Ill be looking to day
trade that drop to the short side. Now that the price has pushed away from
previous resistance at $14.75 the trading range is opening up. Right now Id be
looking for $1 per share between $17 and $15 as a day trade, possibly swing if
it gets any bearish momentum. Volume faded today now that the breakout has
occurred leaving me to think profit taking is bound to set in soon. Glu Mobile
Inc. (NASDAQ: GLUU) is a company I like and will be long soon to play the
earnings runup (11/2/2011) and the Zynga hype. Today, however, GLUU showed some
weakness so Im short biased if it breaks $3 because there really isnt much
support until $2.50 which is where Id like to go long. So tomorrow, if the
markets are down, watch the $3 close because thats the pivot point right now.
Atrinsic Inc. (NASDAQ: ATRN) had its day in the sun Tuesday on fluffy news. I
was so ready to short early on but it was tough to spot the top. Who cares
anyway, easier to short into weakness and ride that gap back down. If this move
is like all of the other big runs ATRN has made, its a solid short tomorrow into
any spikes. Please, I had to include it lol! Netflix Inc. (NASDAQ: NFLX is on
the ropes and those candles arent showing any sign of Rocky making a comeback
right now. So here is the game plan if you have not already banked on NFLX
tomorrow Im simply going to scalp the spikes and cover on the dips all day long.
No text or email alerts on this one, just some momentum trading in chat.
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