Bought 3000 Speedus Corp (SPDE) at $7.35ish….the stock is up 100%+ today on FDA approval for their interesting heart and lung scanner that can transmit data over the internet to specialist, cool sounding, but more importantly, they already sold a couple of these to the army, meaning a wide rollout is possible…only a $28 million marketcap with ISRG-like revolutionary technology…more importantly, their partner is the giant 3M which means 3M will probly now devote some funding and promotion to this product…stock just tanked from the $8 range it'd been holding all day, but I think shorts get squeezed going into the market close today and a possible morning spike tomorrow…intraday support at $7 is my mental stop, goal is to sell on a true or fakeout breakout in the high $8s tomorrow or Monday…remember LiveStock is tomorrow, we have a lot to talk about!

Now its obviously risky to buy into a stock up 100%, but this FDA approval is meaningful, as is the contract. But what interested me most is how well it held $7/share late day when shorts thought it would just collapse…it didn't just hold it once, but actually twice (the 2nd dip on made it to the $7.20s)

$7ish now serves as major technical support for this move and despite the stock's weak close at $7.10, which wasn't natural but instead huuuuugely manipulated (it was holding nicely in the $7.30-$7.45 area actually about to take out $7.50 at 3:58pm EST when one or a couple of tape painting short sellers used a big ass market order to knock the price down at the very last second (cheap and illegal but common trick, welcome to Wall Street!)

If there's no gap higher or good short at a morning spike, I'll just get out and take a 10-20-30 cent/share loss, but if I'm right and the news is important, especially for such a tiny tiny company that basically just got validated marketcap and business-wise all in one day, this could very well squeeze shorts past $8 and possibly even above $9 (although that'd be pushing it)

Yes, I think SPDE might very well tank in the coming weeks, but this technology could be important for the stock, especially since the Army has verrrrry deep pockets and let's remember another stock that had a product the army wanted very badly (before they didn't) Force Protection, Inc. (FRPT):

…and another cool medical technology play with a small marketcap Cardica, Inc. (CRDC), which spiked from the low single digits to the teens when they first got approval for their little magic wand (seriously, that's what it looks like)…yes, SPDE could go double digits before this momentum is over, especially with probable PRs from 3M regarding product funding/promotion and further Army contracts. It all depends on the volume as there aren't many shares out there so the more days it can trades millions of shares the more likely it spikes and squeezes the shorts.

Let's see if you see SPDE's chart similarities as I do with another recently hot medical play, Jazz Pharmaceuticals, Inc. (JAZZ), anybody? anybody? Bueller? Bueller?