This is an interesting time in the market. This fiscal cliff is holding a lot of trades back and really causing the markets to be on hold. The good thing with this is if they reach this deal we should see explosion in the market. We also are getting to see many promo's coming out this week which will hopefully follow with liquidity in the penny market. Be careful when trading them though. The drop could be around the corner. Remember to only trade what you are able to lose, esp in the penny market.
$SVEN: APS pick saw a nice dip today. IMO these size dips are great as long as you are not in them. We noticed it found .20 support on this dip. This is a great key to look at moving forward. I will be looking to enter this stock with a small amount on the 1st day when the 1st 5 minute candle is broken above by the 2nd on a green day. You will most likely be able to ketch a ride up into the higher 30's once this up trend starts. If you enter around here and use .20 as a stop loss that leaves you with a 5 cent loss. if you hold till about .35 that gives you a .10 gain and maybe more depending on how it looks around these levels. That gives you a great ratio of 1:2-3 on a trade. There is greater risk when playing a P&D so please never leave your computer when in a trade or stop watching it.
$CECO: This stock has closed above the 9 and 20 SMA for the 1st time in awhile. We got to see a nice run EOD. This is a good stock to enter once the 1st 5 minute candle is broken above. You will want to hold this one for at least a day to nice a nice return. It rode the 9SMA all day so I would use the 20SMA as a stop loss which is right at $3.00. You would want to exit around 3.25-3.30 depending on the momo when it gets there. This will give you a R/R of 1:1-2. Watch this one in the am to see how it plays out.
$GALE: Look to see a close above $2.35 for a possible uptrend. Make your plan according to how this stock plays out.
$NGRC: Noticed this one on my scanner and I believe someone mentioned it in the chat. We should see it go into the $1.00 range. Keep an eye on it though to see if we can get new highs with this volume.
$OCZ: This stock want's to start chipping away at that gap. Wait for a $2.00 break followed by a confirmation of $2.10 break.
Some other stocks to watch are $SCON, $SD, $TVIX and $STSI. Enjoy the trading week and remember not to force trades and allow them to come to you!