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SYMBLZ!
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SYMBLZ!

by The MoleMay 24, 2010

The tape is literally putting me to sleep – which is usually a good time to go hunting for symbols.

Without further ado:
[amprotect=nonmember] Charts and commentary below for anyone donning a secret decoder ring. The rest of you guys will have to wait until after the session – sorry. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
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I bit too early maybe – could drop more. If it comes down to 38ish it’s worth a small long position. Tight stop folks – as with anything long these days…

Nobody wants this stock right now – which is why I am thinking about going long. It’s right were I wanted it and it’s painting a doji. However, the downside risk here cannot be underestimated so keep a tight stop. IF it bounces at all any time soon this will where it’ll do it. Now excuse me while I go take a shower – I feel disgusting just for suggesting this…

SGMS is almost comedic. Every time they have earnings it falls off the plate, then recovers to varying degrees. Well, we are at some mighty support and if it doesn’t hold here then it’ll flush down the toilet. So, why everyone else is scared I would go long here on a retest, which I hope we get. And again – tight stop – best a few ticks away from the prior low.

TIVO is one I really had to think about suggesting. If you take this one play it super safe – too much air underneath. Meaning a small position and a tight stop – call it a lottery ticket as we may see a spike higher. If it drops below that line I’d say we see 8.00 minimum.

SCO is back at its first trend line of this expanding triangle. It could push higher but I’d take out a short unit if it retests that line. If I get stopped out then I’ll try again around the 19.75 mark.

BMRN – long right now but with a very tight stop, which is the January low.

ONXX only if it touches 22.25.

Alright – sorry for all the long symbols. I ran my short scanner and can’t find too many setups that I really like. Everything is so shot to hell these days – I’m playing it cautiously.

Cheers,

Mole

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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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