Watchlist for 5/8/14

APDN - Former runner thats looks like it may be coming back to life , I like the nice wide range greens bars recently. watch above .13c I think could see a nice move to .16c

HEMP - huge volume today and closed on the dead highs and looks strong for tomorrow. I don’t see much resistance until  .09c-10c . on watch for continuation

OPTIONS

DDD - building in a lower level wedge but has the looks of a potential breakout soon.  I grabbed some of next weeks 50x calls in anticipation of a move higher soon. I like how its 8 & 21ma’s are starting to curl back upwards and we should see the 8ma cross above the 21ma by end of week. Inside candle today so watch for a move above todays high at 50.50.  I see 55 as acting as a magnet going into next week.

IBM - Big time hammer candle today & a lot of old school tech saw the same candle today (MSFT INTC CSCO etc)  which shows that the sector might get a lift. Watch for a move above prior highs tomorrow, looking for a move to 192.50ish by the end of the week. Ill probably trade the 190x calls

LNKD - May have finally found a bottom today. Big reversal candle and with candles like this you never know what it’ll lead to, could be just a pause until selling continues or could turn into a big swing low that triggers a rally back into the 160s. Who knows, but ill be watching it tomorrow for some volatility . It has some room to around 153-158

FDX - broke above a wedge pattern today and now looks like a clean setup until new 52w highs up at 144s. Ill be looking to swing this one into next week using todays low as a stop loss. All the major moving averages are converged right on this 135 level so I think it could have some legs…

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