Sunday Night Watchlist

It seems that the indices are stuck in a near term trading range. I am watching the 44.20 level on the Q's as one of my market indicators. If it can get above it on volume, then I will be looking to get a little more aggressive on the long side. Here are a few charts I am watching this week.

Applied Digital Solutions, Inc. (Public, NASDAQ:ADSX)
ADSX is probably off a lot of traders eyes being that it is under $5 a share, however, the chart is looking pretty good here. This is a nice pennant it's basing from.


Complete Production Services, Inc. (Public, NYSE:CPX)
CPX is trading a small triangle after clearing the downtrend. If it leaves the upper side of the triangle, then a nice move should be coming.


Catuity, Inc. (Public, NASDAQ:CTTY)
CTTY is a wild trader that is starting to get some interest back. It is trading a loose pennant here and may come back to the 20 sma before moving higher.


Citrix Systems, Inc. (Public, NASDAQ:CTXS)
CTXS has been beaten down the second half of this year, but it seems pretty clear that buyers have been waiting in the 27-28 range. It looks like it is starting to turn back up and may make a decent trade.


Penn National Gaming, Inc (Public, NASDAQ:PENN)
Gaming and Casinos have been hot and PENN is looking like it may try and clear this base. It may pullback further, but Fridays narrow range candle may be showing some hesitation to push it down any lower.


Playtex Products, Inc. (Public, NYSE:PYX)
PYX has been trading a very tight range after clearing an ascending triangle. I will be watching volume closely on it.


Quality Systems, Inc. (Public, NASDAQ:QSII)
At first glance the QSII chart looks pretty ugly, but looking closer, there is obvious support in the prior breakaway gap. It has formed two doji like candles signifying some indecision in a support area after a near term downtrend. While it's only a clue, it bears watching.


Rambus Inc. (Public, NASDAQ:RMBS)
RMBS has refused to go down recently and the 20sma is catching up to price. The 200sma looms above as resistance, but RMBS could easily catch some momemtum and clear it.


SIFCO Industries, Inc. (Public, AMEX:SIF)
SIF is a very low float "cheapo", but this chart looks very interesting. Volume has come in and it is working off the breakout day very constructively. It looks like it may bounce off the 20sma here.

I still have the few short setups on my list from last week, but I am thinking that it's best to wait for the indices to be in a confirmed downtrend before looking too seriously at short setups.

Good Luck,

DT