MTOR Intraday Bounce Play

MTOR presented a nice opportunity for the bounce play today. The stock opened at $19.60 and fell to $15.75 towards the middle of the day, forming a beautiful exhaustion candle with huge volume. The stock rose above the buy signal at $16.18 and reached a high of $17.50, before retreating. Beautiful chart.

Daily Bouncer Watch List for 4/1/2011

Here is a list of possible bouncers for Friday. It's the freakin' weekend!

CIE reverse bounce play below $16.61, continuation play above $17.14.

BRFS reverse bounce play below $19.00, continuation play above $19.40.

VHC reverse bounce play below $19.65, I don't like the continuation play.

DEER bounce play above $7.53, I don't like the continuation play.

PENN Intraday Continuation and Bounce Play

PENN was a good intraday play today in the morning. Initially, there looked to be a good reverse bounce play below $35.90. The stock only fell to $35.81, but there was a nice setup for a continuation play above $36.28. The stock rose to $36.90 after rising above the buy signal,

Review of Daily Bouncer Watch List for 3/30/2011

CAR hit the buy signal for the continuation play, but then immediately retreated. Considering it went only one penny over the buy signal, and then stayed within the range the rest of the time, I would say this stock is still in play. It is a good stock to keep an eye on for a break out of this range.

SFD stayed in a range for most of the day, and then fell past the short signal near the end of teh day. The stock fell 10 cents, so it could have been good for a small gain.

CPLA was a good bounce play. It broke

past the bounce signal at $49.24 and reached a high of $50.68.

RES was a good continuation play today. It broke past the buy signal at $24.99 early in the morning, and reached a high of $25.39 before losing momentum.

Daily Bouncer Watch List for 3/31/2011

Here is a list of possible bouncers for Thursday.

VHC reverse bounce play below $19.98. I don't like the continuation play for this stock.

ABAT bounce play above $2.17, continuation play below $1.95. I will not be surprised if this stock gaps. And this will be a dangerous play, being that there will be a lot of volume, and it is a $2 stock. Risky, but possible huge reward also.

OLN reverse bounce play below $22.49, continuation play above $23.00

Also watching: CRME

VHC intraday bounce play

VHC was a tough bounce play today. It actually had a great bounce, but there was a lot of volatility. And there were actually several opportunities for bounce plays and continuation plays. The first opportunity that looked good for a bounce play was around $20.00. There was high volume and an exhaustion candle. The next candle had a higher low, which suggests a bounce is still possible. The buy looked good above that candle, but the trade never panned out as the price went up, but the bulls disappeared quickly. The continuation play below that candle was a nice play, as price dropped dropped to $19.50. There was another bounce play opportunity that ended up being great, rising from $19.50 to $20.90, but it was a tough one to take full advantage of because of the high volatility.

Out VHC $19.90

In VHC $19.73

Might get back in VHC above $19.74

Out VHC

for a loss. Tough stock. Lots of volatility.

In VHC for bounce play

at $19.68

Watch VHC again for bounce play

Might be a good entry here.

Closed VHC position

Quick continuation play scalp.

Went short VHC $19.73

For continuation play. We will see what happens.

VHC looking weak

Out for now. Will keep watching.

Watching VHC for bounce play

Watching VHC for a bounce play above $19.90.

Watching PENN for reverse bounce play now

Nice run-up after the continuation play on PENN. Now watching for a reverse bounce below $36.82.

Watching PENN

Watching PENN for intraday continuation play above $36.28.

Daily Bouncer Watch List for 3/30/2011

Here is a list of possible bouncers for Wednesday.

CAR is back on the list. It has been consolidating and trading in a tight range. It is not a perfect setup for the bounce play by any means, but because it rose from about $14.75, and has been trading in a tight range for a couple days, I expect it will make some sort of significant move soon. Reverse bounce play below $17.93, continuation play above $18.33.

SFD - Reverse bounce play below $24.56, continuation play above $24.93

CPLA - Bounce play above $49.24, continuation play below $46.82. Trade the continuation play extremely cautiously, as it has to drop significantly just to get to that level.

RES - Reverse bounce play below $24.37, continuation play above $24.99

Review of Daily Bouncer Watch List for 3/29/2011

The watch list for today included only reverse bouncers. Two were nice trades at the open, and two did not do much.

GLBL opened close to 1% below the short signal, which makes it a difficult trade to make because 1% is what you hope for out of each trade. Coming back up to where the short signal was would have been a definite sell signal. The stock continued to rise after doing just that, rising to end the day up 3.81%.

RES hit the buy signal for the continuation play at $24.82. It did rise to $24.99, so there would have been an opportunity for a small gain. RES will be on the watch list for tomorrow.

CVI was a nice reverse bounce play. The stock fell below the short signal at $22.00 and fell to $21.50, so there was an opportunity for about a 2% gain in about 20 minutes.

BC was also a good reverse bounce play. The stock fell below the short signal at $25.28, and continued down to $24.90. About 1.5% in about 15 minutes.

Daily Bouncer Watch List for 3/29/2011

Here is a list of possible bouncers for Tuesday.

CVI - Reverse bounce play below $22.00, continuation play above $22.68

BC - Reverse bounce play below $25.28, continuation play above $26.08

RES - Reverse bounce play below $24.03, continuation play above $24.82

GLBL - Reverse bounce play below $9.45, continuation play above $9.75

Review of Daily Bouncer Watch List 3/28/2011

This review will not have charts, as I am getting to this so late in the night. The stocks on the watch list performed well today, though some stayed in a range and never came into play. BBY and CAR were the stocks that never came into play today.

EBIX was good for a quick buy and sell in the morning. From the buy signal above $24.07, EBIX reached a high of $24.59. 2% in the first ten minutes the market is open is a good trade.

ARBA was a good reverse bounce play. The short signal was below $33.35, and the stock reached a low of $33.06 in twenty minutes.

VRX could have been a decent reverse bounce play. The short signal was below $44.85, and it reached a low of $44.21, but it did take most of the day for the stock to drop that low. I would not have stuck around that long, as I do not like to hold my money in a stock for too long. I am a scalp trader at heart though, so my patience is very thin when it comes to waiting for a stock to move.

NVGN Intraday Bounce Play

NVGN was good for an intraday bounce play today. Price dropped about 25% from the high of the day down to $2.26. The candle highlighted in yellow was not the greatest setup, but it looked good after a 25% drop. The high of that candle was $2.32, and the buy signal right above that. Price from there rapidly rose to $2.69, before it started to show weakness. A good sell would have been around $2.60 to $2.62 as the stock definitely was appearing weak there.

Daily Bouncer Watchlist for 3/28/2011

Here is a list of possible bouncers for Monday.

BBY - Bounce play above $29.80, continuation play below $28.65

EBIX - Bounce play above $24.07, while it is not the perfect setup in terms of having an exhaustion candle, the volume in significant and it appears to have bullish momentum after Thursday's huge fall. I don't really like the continuation play because it is over 8% below the current price, which would be a huge decline and could bring in the bulls.

CAR - Reverse bounce play below $17.72, continuation play above $18.44

ARBA - Reverse bounce play below $33.35, continuation play above $34.85

VRX - Reverse bounce play below $44.85, continuation play above $45.99

Also watching: VHC, GLBL, BAS, FTK, TLB, MCP

Review of Daily Bouncer Watchlist 3/25/2011

Here is how the stocks from the Daily Bouncer Watchlist for 3/25/2011 fared on Friday.

VRX was a solid continuation play, reaching a high of $45.99 from the buy signal at $45.17. The stock is also setting up nicely for another try at the reverse bounce play, and will be mentioned in the watchlist for Monday.

PHH was a continuation play, reaching a low of $20.78 from the short signal at $20.92.

KND was a good bounce play, reaching a high of $23.77 from the buy signal at $23.27.

LFC didn't have too much movement on Friday, opening under the short signal, but not moving much below that level over the course of the day.

PRAN Intraday Continuation Play

PRAN was a good intraday play today. A nice exhaustion candle formed with a high of $3.14. The stock approached and broke that resistance with high volume which showed the bulls were in control. After the move lost momentum a good sell would have been around $3.25 which is about a 3-4% gain in under ten minutes. If you held through that you could have made 5-6% in about fifteen minutes. Good play.

Watching PRAN

Looks like a good buy for the continuation play above $3.14.

Review of Daily Bouncer Watchlist 3/24/2011

There were five stocks on the watchlist for Thursday, and three of them ended up being solid plays. The ones that were not were HGG and GLBL. GLBL could have been a solid play if you played the continuation play, but it would have been higher risk than I would be willing to take, unless there was a nice setup on the intraday chart. HGG started with close to a 2% gap up at the opening bell, which would all but eliminate my confidence in the stock continuing positive momentum. Not to say that this is not a good setup in other context, but in terms of the bouncer play, if a stock is already up more than what you expect to get out of a play, then it is time to look for other options. The successful plays for today were EROC, BAS, and CHBT.

EROC was successful if the reverse bounce play was employed. The stock had a low of $9.95 after breaking below the signal level of $10.15

BAS had a low of $23.37 after breaking below the signal level of $23.69. The stock closed up for the day which shows why it is important to take profits when you have them. No strategy guarantees a stock to fall and continue to fall.

CHBT had a high of $8.10 after breaking above the signal level of $7.89.

Daily Bouncer Watchlist for 3/25/2011

Here is a list of possible bouncers for Friday.

VRX - Reverse bounce play below $44.50, continuation play above $45.17

PHH - Bounce play above $21.37, continuation play below $20.92

KND - Bounce play above $23.37, continuation play below $22.09 but be extra careful with this play because $22.09 is so far from the current price

LFC - Bounce play above $54.57, continuation play below $53.88

SHAW Intraday Reverse Bounce

SHAW was good for a quick 15 minute trade today. Short opportunity was below $34.89 and the momentum seemed to be running out at about $34.74. Not a lot, but keeping profits are the way to trading success.

Watching SHAW

SHAW looks good for a possible reverse bounce below $34.89.

Watching NVDA

Could run some more if it breaks above $19.41. Could fall if it breaks below $19.26.

Daily Bouncer Watchlist for 3/24/2011

Here is a list of possible bouncers for Thursday.

CHBT - Bounce play above $7.89, continuation play below $7.42

GLBL - Reverse bounce play below $8.75, I don't like the continuation play.

HGG - Bounce play above $13.35, continuation play below $13.01

EROC - Reverse bounce play below $10.15, continuation play above $10.35

BAS - Reverse bounce play below $23.69, continuation play above $24.32