Happy Memorial Day Profit.ly! First off, I want to thank all past, current and future members of our military who have allowed and continue to allow us freedom, which most people take for granted. So thank you again for all of you who are brave enough to protect this country and it doesn’t go unnoticed! I am itching for this market to open tomorrow however as I have 2 day trades freeing up. There should be some things in play tomorrow so here’s what I’ll be watching for in the morning. I hope everyone has a great day off and enjoy it with the ones you love!

 

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VSLR – This was a big winner after a Deutsche Bank upgrade on Friday. It did hit multi-month resistance and briefly broke out of it before coming back down and having a hard time breaking out again past that $3.75ish resistance. I do think it will be able to jump Monday some more if it can really break through that level since there isn’t much resistance until $5ish. My ideal entry would be closer to $3.60 if it dips a little in the morning but I think I may have to get it closer to $3.75 with the goal of this breaking out past $4 and ripping to $5. I’ll wait to see the price action in the morning on this one but it should definitely be on top watch tomorrow.

 

CJES – I’m not a huge fan of this chart but or a huge fan of playing the energy sector however this is on the verge of a decent breakout if it can get above $0.53 tomorrow. If it can gain some steam tomorrow morning and the sector is in play as well, it may set up nicely for a 50% gain up to $0.75/share. If it fails at $0.52-$0.53, I would say no play for me or maybe even a good short for 15-20% on the downside.

 

DSX – This dropped on earnings back on the 18^th but managed to find some support at $2.25ish. I may look to swing this to see if this can get back up to the $3-$3.25 range. This was trading at $3.75 just a month ago and we are at longer-term support so the risk/reward is favorable with the right amount of size. Not a lot of volume so I would ideally like if that picked up a little on Tuesday to see how I want or if I’m going to trade this. Just something to keep an eye out for!

 

 

 

Secondary Watch: AVXL, VLTC, CPST, XGTI