Ahead of the long holiday week, we are witnessing lot of profit taking. Frankly when you see so many gaps and gaps of 4 dollar plus after a long rally, you should expect some profit taking. Expect some wild moves on Tuesday and Wednesday as momentum players play their game in thin trading environment. Lot of heavily shorted names or sectors will be targeted to shake out short sellers. Low float and high short interest can sometime create explosive moves.
I am not finding much in scans today and have few new positions barring some quick morning hits.
Here is what I am finding in my scans currently:
AGN,Allergan Inc
ASCA,Ameristar Casinos Inc
BXP,Boston Properties Inc
CRDC,Cardica
CYBX,Cyberonics Inc
IPS,Ipsco Inc
LCRD,Lasercard Corporation
MCF,Contango Oil & Gas
MNT,Mentor Corp Minnesota
STLD,Steel Dynamics Inc
ZVUE,Handheld Entertainment Inc
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