SCON Maybe a Victim of Broad Market Melt Down

As bullish as I am on SCON, it could end up still being a partial victim of a broad market melt down this week.  SCON may do a double dip retest of recent break out area and would likely delay any near term bullish move into earnings.

The market really looks at risk of a nasty break down from here so I think any low float stock such as SCON is always at risk of a ‘throw the baby out with the bath water’ type situation.

That said, I did indicate that a stop for SCON would be ideal right under 3.40.  But that is probably what the market makers want to gun for assuming they get an excuse to do so with some more broad market weakness.

But if SCON can still maintain a higher low with respect to the 3.40 low, then SCON may still have a shot for a move higher this week.

Posted in Stock Setups

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