Genco Shipping & Trading (GNK), my favorite in the shipping group, with the Baltic Dry Index (BDI) up 11 days in a row, is beginning to surge here. It’s moved from about the 18 1/2 range to the 27 1/2, or 9 points, in the last six or seven sessions. Perhaps it’s a tad overbought. Tremendous momentum and volume. Surging technicals. It should at least get up to the 29.90 area, the June highs, and a move above that could get to secondary resistance, up around 33 1/2 – 34.
Nanometrics, Inc. (NANO) is flying on big volume. It ran from 7 to about 12 1/2 just in the last four sessions on heavy volume. It may need to pull back and consolidate, but if momentum carries it further, the top of the channel measures around 16, and this one looks like it has that kind of momentum to get there.
Revlon (REV), one of my favorite trading vehicles the last couple of weeks, had a big high volume explosion today, taking it from the 5 1/2 up to nearly 17 today at 16.99. Just in the last 2 – 2 1/2 weeks. A tremendous move. Definitely overbought short term, but very strong momentum could take this higher, perhaps even to the high teens, low 20s.
Rino International Corp. (RINO) has had a heavy volume breakout with a mini head and shoulders consolidation. It came across the neckline Friday with a break away gap. Today it followed through another 2.04 on 2.3 million shares. Top of the channel projects something around 34 – 34 1/2. It wouldn’t surprise me if it got there in the next few days, but that’s our target.
Canandian Solor, Inc. (CSIQ) has the potential for something in the mid to high 30s, at the very least, maybe higher. Today’s high, 19.70 is up 1.25.
Ion Geophysical Corp. (IO), highlighted in our weekend video review, may be setting up for a quick, sharp spike up move out of a bull flag.
Kandi Technologies, Corp. (KNDI) has moved from about 3 to 4.60 over the last three days, up 50%. It shows signs that it could move up towards 6 1/2 – 7 over the next few weeks, potentially.
Liveperson Inc. (LPSN) has a short-term possibility of moving up around the 8.00+ level.
Netlist, Inc. (NLST) has been on fire for four or five days now, moving from 65 cents to 6.87, more than 10-fold just in the last five sessions. Heavy volume in the last two days, 5.6 million today, the heaviest in its history.
Qiao Xing Mobil Communications Co, Ltd. (QXM) could be looking at 5 1/4 - 6.00 range up from today’s closing at 4.68.
SMART Modular Technologies, (SMOD), up 12 cents or just 2.5%. If it hits the top of the channel, it would make a big percentage move, from 4.75 to something up around 8.00 level.
Spreadtrum Communications Inc. (SPRD), reaching 6.20 today, slightly took out the October highs, and was up in the after hours, a good report, so I’m expecting that one to move tomorrow and maybe get up towards 7 – 71/2 range.
Telestone Technologies Corp. (TSTC), very impressive, high volume move in the last 3 sessions. Expect to see something in the mid-to-high teens going forward.
U.S. Energy Corp. (USEG), jumping 19 cents, seems to be wanting to take out a declining tops line and move up to test the October high around 7.30. Beyond that 8 1/4 or more. Longer term measures up around 11 1/2 – 12, so this could be a flyer if it gets going.
Those are some real beauties and some very attractive short-term trading opportunities.
