Watchlist for 2/11/14

EDXC - Looking for follow through today thru yesterdays high. EDXC is in blue sky territory and has a good history of 3 day runs so lets see if it repeats this time around. Target for now is gonna be .35c.  key support at .26c


HEMP - On bounce watch today, its had 3 big red days in a row is is coming back into support.  Would look for a reversal at .10c today OR a move above .145 to get a bounce going.  If the bounce occurs at .10c then Id use .145ish as the target and if the bounce starts by breaking resistance then my target would be at .18c.  Patience.

CTSO - Still in a bull flag and yesterday finally saw some green action. Looking for a snap back to resistance at .31c today and then perhaps it finally breaks out above the bull flag.  This is one of the better setups in OTC land imo.

GPL - Broke above the neckline (off yesterdays watch list) and is now looking good for our 1.20c target this week. Needs to now continue to hold above .94c going forward but overall its looking very strong, very high volume breakout yesterday.

GSS - In a wide bull flag on the daily chart and gold itself has been acting better as of late which in turn should help out some gold miners. Watch for a move above .70c today to get this bull flag a breakout. Recent highs at .76c is minor resistance and then the bigger level of resistance and our target is at 1.00

NPWZ - Another bull flag setup right at resistance at .027ish . Watching for a move above .024c today which should give us enough power to break above bigger resistance at .027c and then its really a blue sky breakout and who knows where next resistance might be. Good consistent volume as of late though, could be good.

OPTIONS 

TSLA - broke out into new all-time highs yesterday and closed slightly off the HOD but either way it looks very strong and I think we will see another pretty big day today. I believe this week we will see a 200 break and with a high short float right before earnings next week we could see some big squeezes into that event. If I were short TSLA, I for sure would be concerned about taking it into earnings. Watch for prior high break to get us the 200 break. Ii think if it gets 200, it will get 205 shortly after.  I am long TSLA using various call spreads.

GS - In a bear flag on the daily, however the flag has high volume and to me this is a sign that its bottoming out and wont get another leg lower.  Also we have a rising support line that comes in right at 160.  I think today I will be buying the dip using monthly options using 160ish as my stop loss.  i think a bounce back to 167.50 is very much in play this week.  Most other big bank stocks have bounced back recently and I think its time for GS to participate in the bounce. Here is a GS chart showing the levels 

FSLR - In a falling wedge pattern is looking ready to breakout of any day now. FSLR has pulled back into its 8/21/100/200ma’s and that seems to be an area where FSLR has rallied off of before. ( March 2013 , Sept 2013). Looking to get some calls today with anticipation of this wedge to breakout. It does need to break above 52.13 to get the momo going. FSLR has a 16% short interest and reports earnings at the end of Feb on Feb 26th so we got time for FSLR to run before earnings. 55 target for this week.

 

Remember this is just a watchlist and do not guarantee to be profitable trades. Use your own judgment when making the trade.

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