Kabam!

Watchlist – 11/17/2009 – 3 Shorts Setups EVERY trader is watching

Posted on 17. Nov, 2009 by tim in Daily Watchlist, Finance

Full List With Yahoo Quotes

CLRH

Jeez look at that beauty of a chart! I’ve had this on short watch for I think over a week, these types of setups are awesome but sooo tough to play! The collapse was inevitable but timing it can be next to impossible. I have never really played this type of setup but will try and experiment on the next one. In my mind since it only went up 5-10 cents a day, if you pick a spot and start building a position every day in anticipation of the big drop, then you could profit. The dilemma of course is picking the spot to enter, even if you think you have a good entry you could still get stopped out before the drop. It was a $0.07 stock a month ago so still plenty of downside, but after a 30-40% intraday drop its pretty hard for it to drop much more. Most likely will just be a boring sloooow fade back to oblivion. SHORT

IMGG

I’m no medical imaging expert, but it appears to me they manufacture a six foot tall toilet seat on casters! It may be a great device, but when you have a couple thousand bucks in the bank, 9 employees and your stock is up from 5 cents to $2 in a couple months, you will be at the top of my short list!! Tough to find borrows though… SHORT

NLST

At some point this will be a KILLER short!! But I lost money shorting it Friday in the $2 range, talk about a good example cutting losses!! Worst part is since I was very untrusting of the stock, I tried paper shorting it yesterday, and even THAT didn’t work…. Normally my paper trades work 95% of the time, funny how that works. Anyway, I’m going to try and keep myself away from this one, plus again, borrows are VERY tough since every pennystock trader in the world is all over it! I’m afraid even if I find borrows, I’ll get over anxious to play it and make another mistake. I REALLY just want to ignore it today. Lost potential be damned. Argh, I just looked at the chart again, and that late day fading is exactly what I look for… I really hope it goes up more today so I don’t have to regret missing it. Short

Review from yesterday:

CNIC went down like I suspected, but not really a great short, only solid entry point would have been, $3.60-$3.50 and it then only dropped to $3.20’s and bounced.

EONC very similar to CNIC, while it did drop like I called, it was very slow and boring all day, I closed my position out of boredom and VERY low liquidity mid day. It did drop late day and closed on the low of the day. So it could really drop today, but dead to me now, boring to the extreme.

IMGG and NLST were on yesterdays list and are obviously back on todays.

Tags: CLRH, CNIC, EONC, IMGG, NLST