April 15th 2009

Today in the Stock Market

Featured MicroCap
For Wednesday April 15th

Dear Fellow Trader,

Today i want to start by showing you the chart of the QQQQ, which is the equivalent of the NASDAQ. Look at the rising channel, we have to stay in this for the market to remain in the present uptrend. Also note the resistance around 34, this might take a small sideways consolidation before going through or even a pullback… So we have to expect it, but again the market could fool the crowd again and keep going, but it’s start to be overbought a bit.

QQQQ%20april%2015%20CHART2 April 15th 2009

LVLV is still a buy candidate for us, as the company keeps releasing new applications, and the stock is calm but stays where it is around 0,03 to 0,04, so take advantage of it.

Then for PGYC, the stock stays tight and i like the fact that the volume has been drying up in the last few days, right around a good support area, eventually some more news should come out.

PGYC%20april%2015%20CHART3 April 15th 2009

Also i have another Ex-Large Cap that is having this Bottom Bouncing pattern.

CTIC used to be much higher and now they might have some major developments happening for this accumulation to take place….
Look at the weekly chart.

CTIC%20april%2015%20CHART1 April 15th 2009

And now on the daily chart, after such a ride at the end of march, a pullback was necessary, the stock seems to stabilize at around $0,30- $0,35. I would be looking for a pick up in volume and crossing 0,38 on a volume surge…

CTIC%20april%2015%20CHART2 April 15th 2009

Featured HOT Stock

Guys, the Citigroup play of monday looks tired. Since we are in the expiration week, i would take whatever is left of this position from the table this morning. It might run again, but with the state of the market short term, let’s take the balance and the ROI on this trade will be over 300%.

Another Ex Large Cap to watch is ESLR
ESLRapril%2015%20CHART1 April 15th 2009

Give a look at FRPT, this stock is making a comeback and on the weekly, we can see that it’s still has room to almost double, but at this level, we should wait for it to cross this $7.37 recent high on strong volume increase. it might have to pullback before going or doing some sideways….

This is a weekly chart.

FRPT%20april%2015%20CHART2 April 15th 2009

Have a great Trading Day !

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April 15th 2009