Wednesday, May 9, 2012

What to expect tomorrow...

Many people today thought $RARS was the new APS pick, hey it still may be. I stopped myself from getting in for most of the day due to things not looking quit right. I took a very small position for gap and we have now received emails for APS that do not show $RARS as a pick. Head games are definitely being played here.

I see two options, 1, it's not their pick and it falls hard. 2 they announce it as their pick at some point tomorrow. Either way I am going to be watching this closely because something is definitely up. Don't quote me on this but I could see this being a shake out to get the stock at a lower price to start. Volume in the AM will be the tale sign.

Tomorrow I will look to see what the level two is showing along with price action and volume. I will most likely try and get out of this stock right away for a loss. If it ends up being the new pick I will look for a new entry to get in at. Again, price action and volume in the AM will be your sign on how you should react. Even if you take a loss the next pick is right around the corner so you should be able to make it back if you play it right. I will say though, today's volume means something.

Now the stock I really want to watch is $ORYN, thing is a beauty. I will be looking towards this stock for gap plays along with a swing trade entry. This stock has created higher volume each day so far.

$ORYN support lines to watch are
1.10
1.06
1.02 

I will watch the daily 1 minute chart tomorrow and wait for it to hit off of a support line once. If that line looks to hold I will enter there for a swing. Then at the EOD I will enter it for a gap play as long as all the signs are there.

$LUXR is also still on watch. Remember yesterday we said we would see another day or two in the red before it correct itself. That seems to still be the case. Keep this one on watch, to me it still looks to be in play.

That's all I got for tomorrow. It's going to be a weird day with what APS is doing. If $RARS loses my interest I will put all focus on $ORYN and look for scalps along with gap plays.

Remember, Stay calm! Enjoy the day!

Update: If $RARS has close to 25+ million or more in volume come out of it, I would join them and get out...

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