MIPS is up 90% in the last month standing at 2.29$. This stock is getting weaker and weaker providing a good shorting opportunity. 2.89$ is the 200 dma (day moving averge) and anything above 3$ should be a stop loss.
WNR is a oil and gas operation company that is a slow and steady upside runner. However I believe the run-up has been overdone and due for a pullback. WNR has been trying to break 13$, but has not been successful. Short below 13$, with stop loss on the break of 13$.
OVTI is another potential short play. This stock has run up 30%+ in the last month and now faces some serious resistance at 8.5$, 9$ and huge resistance at 10.25$. Sitting just below 8$ and putting in its first weak red day could be possibility of trend reversal.
ILMN had a solid quarter causing the stock to jump 28% in the last 5 days. Over-done ? Maybe. It is sitting just around its 200 dma and faces it first strong resistance. Keep watching if it can break it or not. Once the 200 dma is broken convincingly, it is not safe to short.
AKAM has run-up 22% in the last 5 days. The charts indicate that the run-up is getting weaker. Everytime the run-up gets weak, AKAM reverses big-time providing excellent profits for the shorts. Last time after peaking at 16.75$ it dropped all the way to 12.29$. Definite must watch.
SNX is also one of those stocks that has been running up slow and steady. When will the run-up end ? Hard to say, but 18.5$ and 19.25$ sure will provide strong resistances. On my watchlist for shorting.
SEPR is a bio-tech stock that is up 30%+ in the last month. Although the run-up is not too crazy SEPR could provide a healthy pullback providing a short opportunity. 17$ seems to have provided strong resistance and is a worthy short. Personally I don’t like to short bio-tech stocks since they can run up alot, and they normally don’t follow the market movement. Their movement depends on their drug approval. Additionally SEPR broke the 200 dma on the upside. The 200 dma now becomes a major support. Let us keep watching how it plays out.
Other noteworthy shorts worth pointing out are: COGO, NITE, SFLY, MTL and GERN. Good luck trading…