Looks like the whole market is turning against low non-existent P/E momentum stocks -- anything a bit speculive including biotechs.
AMTX: got burned bad in down turn. I think some comments in WSJ scared momentum boys. Now, there seems to be no real support here, a few dead-cat momentum players, but too many of these are shell-shocked and will avoid signs of frothiness. but I agree with Cadaver, watch for a rise on light volume, a head and shoulders form, then another fall -- 13 or maybe less.
ANCR looks shakier even than AMTX. Feel somewhat hesitant here about shorting because of the way volume can dry up. Don't think options are traded.
CUBE: could do the same as AMTX, short term resistance at 32, needs to be confirmed. If not, next stop at 29 then 21.
BGEN: stock chart breking down, huge blocks moved on Friday (300K). Resistance at 52, Could drop to low 40s. Good news is out and the co. is great for 97, but the technicals are showing a move down: resistance at 52 is key.
USRX: this is a volatility play I think: put a collar on it and buy and sell puts/calls during day as it gyrates. 10 point moves on Thursday (option related), but 5 points also on Friday (less option related).
Funny, all these stocks are great long term plays that have run ahead of themselves or are victim of technicals.
good luck
dppl |
