Ugly day in the market today. Gut tells me more downside coming during this Summer. Watch the SPY closely, it's either going to break big to the upside... or break the ascending triangle and tank. Being that the Summer lull has begun... I'm being real cautious here and buying some Put protection.
$AMCN - I think this one is finally looking exhausted. The volume has faded and it's sitting in the overbought zone. It could parabolic towards $10, but with the Summer lull, I think this fades off more. A retest of the 6.60 support area to determine if it's worth a short or long.
Got patience? The July or Sept $7.50 Puts is most likely your money maker here.
$PHH - Looks almost like a pump that got exposed for something illegal. Well, they engaged in illegal kickbacks for referrals and paid $100MM fine for it. LOL, short on a bounce much? This chart is also an example of what the SPY might do this summer...
Maybe re-test of $27 and then fade back down towards $25.
$EYES - So... insiders now dumping shares after lock up expired two weeks ago. They were smart. Dont sell on IPO lockup expiration day. Squeeze all the shorts who expected that sell off... then sell after they've been squeezed. Smart.
Short on a re-test of the $15 area. This was up on no news. Should fade off just as fast as it went up.
$GEVO - Just got an email from the SmallCapNetwork with a little pump piece on it. Their picks seem to run pretty well. News out of DC should spike this stock if they are looking for cleaner airline fuel.
Higher lows in place. I like it for a long at the open. Break out past $4.40 area and we should see $6 quick.