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7 Hot Stocks To Buy & Short Sell

 June 10, 2010 12:39 PM

BP plc (BP) is tempting value longs given its freefall, but I've learned long ago not to buy falling knives, especially with so much uncertainty…nor will I short considering breaking news could come at any minute and the stock will either gap up or down in a big way or be halted pending news…no thanks, remember, I'm the conservative trader who doesn't look to be in stocks for less than a few hours, so I won't play this either way…scalpers and jackals, enjoy!

Big Bear Mining Corp. (BGBR) has been in a typical after-paid promotion death spiral from $1 to 20 cents/share the past month and now has doubled to the 40 cent range, getting a lot of short sellers excited…yes, it's a low priced stock, but pretty much everyone knows this a GTZ (good til zero) so some have shorted already…I'm hoping for some more spiking first, a paid promotion pump would be nice as if it can clear the 40-50 cent/share range, its got a clear path to 75 cents/share with any pumping/short squeezing…10 cents/share of downside here doesn't interest me much…but then again as AENY shows, these things usually fall right back to the lows.

[Related -Call Options Active in Yahoo! Inc. (YHOO)and BP plc (ADR) (BP)]

Cereplast, Inc. (CERP) is another potential short, up from 3 to the 5 area in 2 days on positive revenue news…I don't normally short into that kind of fundamentals news, but this stock has a long history of spiking and failing and its already faded 50+ cents/share so these gains don't look meant to last…potential short, ideally after 1-2 more days of spiking.

[Related -7 Deep-Value Energy Leaders With 68% Upside]

Enviro Voraxial Technology, Inc. (EVTN) dropped a few cents/share, but rebounded late day when they had a press release about being featured on CNBC…yawn…no play for me, this company needs to learn how to hype itself more…their lawyers seem too conservative to let them get away with anything, sad…somebody please introduce them to Jarret Wollstein, gratzie!

PROLOR Biotech, Inc. (PBTH) made its breakout REAL by jumping 70 cents/share or 10%…I saw this all the way, just never executed, mostly because I know I usually stink at buying breakouts…well, here you go, this is a picture perfect breakout and given my track record, I need to have more confidence in my calls…glad some of you guys captured these predictable gains….it's PATHETIC that I didn't have at least a small position as this could keep going too.

Hauppauge Digital Inc. (HAUP) makes you love the illegal practice of tape painting…as the stock was about toe close at new spike lows of $2.05, some desperate long painted the tape, meaning he bought a ton of shares at the last second to push the price up, to close the stock "up" on the day at $2.17…this is not how stocks bottom and I suspect that the tape painter was Lionmaster who is long from $3ish…or one of his followers…this is a potential buy, but only when the stock goes sideways or uptrends on its own, not through illegal manipulation tactics the SEC is too inept to deal with.

Jones Soda Co. (JSDA) squeezed shorts a bit, but finally faded near breakeven towards the end of the day…these kinds of spikes are decent to short into as it's the same kind of pattern I shorted into, but the downside still isn't very great to justify any large short position…potential short if and when the stock starts fading gradually like HAUP did…not the choppy-at-first-kind-of-HAUP price action before it began fading so nicely.

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