Daily Stock Picks Newsletter from August 18th, 2008
AFAM, Almost Family, is looking dangerous as a short. If AFAM drops at or near the open and stays down through the session, it would still be within the parameters of the bullshort model. But $43+ and climbing tomorrow morning would be a stop limit and stand aside.
TACT is still in a corrective mode but all eyes are on this for potential running against a short position. Target price to cover is still around $11.
NPSP, TWP, SWIM and FSYS are also acting well as short positions.
MITI, Micromet is a biotech that has run up for 2 days. This should be a decent short to start opening a short position tomorrow.
I am also watching GPIC, Gaming Partners as a potential short too.
We see a lot more speculation going on, which is a healthy environment that people are not completely in despair with all stocks. It is a good combination to see fear and greed in the market at the same time.
LBYTA, Liberty Global Class A is turning over now. CPHD and MYGN are weakening and the sell signal came last week with both stocks.
I am waiting for more drop in the market for better odds on long positions.
Stocks for long intraday trades if these go down more in the first hour are the ag-chemical stocks, AGU, MOS, MON and POT.
Keep your discipline with stop losses and position sizes that are relatively small.
Have a great day.
Mitch King
www.TradeStocksAmerica.com
PS: Saturday, August 23rd is scheduled 1 day workshop at my house. Please email me at [email protected] if you plan to attend.
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