Stocks to watch 5/2/2012

Today I was not around for most of the trading day. From what I gathered it seemed to be another slow day. I ended up not taking a gap. $LQMT looks like a gapper, if I were to take one it would be that stock. The thing that turned me off about this stock was that it is getting close to the previous highs and we could see those gains quickly turn into loses. I will explain later my thoughts for $LQMT.

There aren't to many promo's right going on right now. Big ones that is. Most people seem to be waiting for the next APS play. It is possible we see a new pick this month. There are a few things you want to look for. The main one being is, the emails they send out. We have yet to receive an email for $SNPK in May. If this continues we could possibly see a new pick this month. If we do receive another email it will most likely not be until June. Personally I see June as the most likely but that does not mean it can't come this month. Be on the watch as it could be any time now. Also, APS has a record of only picking stocks that have never traded before. Because of this look for a new pick that is getting high volume with price action. You should be most alert on Thursday's since that is the day APS like's to announce things.

Another thing I would highly recommend is joining www.stockhaven.com. The advantage of that is you will get alerted almost right away by people who may have gotten the email before you. You also will usually get a confirmation that it looks like the pick in the room. I believe they even found one of the picks before it was announced, don't hold me to that. You have a much higher chance of getting in the next pick early by not only joining that stock room, but also staying alert.

Here are stocks I will be watching tomorrow:

$ICPA:

I will be looking for that .055 break and entering a small position for a day trade. The lowest I want to see that stock goes is .0371. Any lower and this stock is no longer making higher lows.


$ICPA Support:

.0411
.0441
.0371

I may take a small position if any of these supports are hit for a quick scalp play.


$LQMT:

Many took this for a gap play today. Due to previous history it makes me a little nervous since it has gaped down and then dropped on previous days that it was up. I will be looking for a .6349 break out.

.70 range looks to be more resistance for this stock when looking at a yearly chart. Be cautious of that range when playing this stock.

$LQMT Support:

.59 range
.53 range

We want to see 800k+ in the 1st five minutes as a signal that this stock will move higher. This stock had good EOD buying which is what we want to see tomorrow at open.

$SEFE:

This stock looks completely done to me. I will not be looking at support and resistance levels on this stocks due to it giving up yesterdays gains along with some of the previous days. Who knows maybe it's a new way to lure in shorts, to me it looks done.


It still seems like slim pickings when it comes to stocks lately. I will be mainly watching $ICPA and $LQMT tomorrow and going into this week.

Remember don't force any trades when it's slow. Only play if you see good plays, don't try and make them.


Update: Crap, looks like APS put out new emails for $SNPK. This week looks out for the new pick and to me June looks more likely. Still keep a close watch though. May could possibly be a very slow month. Hopefully something will come along.