Hey everyone!
Awesome week so far BUT I need to punish myself for today! If y'all remember last night I had two stocks I was watching for parabolic shorts...AVEO and CREG. Well both of them were EPIC wins and I was not in either one! AVEO because I wanted to short it in pre-market near $1.80 and I overslept and by the time I was awake it was long gone! And CREG because I was so stubborn on my plan to short at $1.35 from the night before I didn't want to take $1.32 and it ended up hitting $1.04. Other than that I had a great day w/ all wins in SGNL, EPRS, ZIOP and CPRX but man I blew the two biggest opportunities I had so I am punishing myself ... not sure how yet but I will do it! There is no excuse for laziness when you have such a huge opportunity as AVEO ... just missing it cause I was too damn lazy to get out of bed. If you act like a millionaire you will be paid like one...if you act like a lazy corporate drone like I did today then you are paid accordingly! So, lesson learned (for like the 5th or 6th time now I think, lol)...maybe writing it out this time will get me to remember it! Anyway here are some ideas for tomorrow and I will definitely be awake on time cause you never know when the next opportunity is going to smack you in the face!
RGDO - I took a swing at $1.32 on this and if it sets up I may day trade it tomorrow also over $1.35, but just wanted to throw it on here to document that I am trading it. I have a stop under $1.17ish and expect it to break $1.50 so targets will be $1.75-2.00 for now. That could change depending on action.
JRJC - I really like what this is doing on the daily. Two days in a row now it has been bought up off $6.00 intraday and closed the day strongly near the top of the daily range. I hope this will stay under $6.40-6.50 until Monday because usually the influx of fresh aggression at the beginning of the week will make this type of breakout much more powerful, but I'm not opposed to buying it tomorrow either. My plan is to watch for a dip toward $6 like it's done for the last couple days and start in relatively small for a long. This stock is pretty risky so I don't want to add much size until it really starts to show strength but when it does break that $6.40 mark I can see it being very strong. If it gets some legs over $6.40-6.50 this could easily run to $7-7.50. If it gaps up I'll be watching to see if it holds the $6.30-6.40 area. If it gaps down I'll be playing a break of the high of day as my entry.
CRMD - This went parabolic into the close today and showed some signs on level 2 of topping action. Right in the last 10 minutes a big 100k bidder showed up and started flashing the bid and then immediately dumping into the liquidity on the other side. This is standard for traders/funds who want to get out of big positions and are trying to prop the price up to unload their shares before the stock falls. The bidder was starting to get chopped into at the very end of the day so I expect a quick push in the morning followed by some shakiness. I'd love to see this go really parabolic to $8.50 first thing in the morning with no rest at all but it may just flush right out of the gate given the action at closing today. I will only short this into a parabolic push UNLESS it starts to make lower highs and I see the right signs on level 2. I'm not gonna go into detail on what I'm looking for there as it would take me a book to explain but suffice it to say that if you don't know how to read level 2 I wouldn't trade this with very much size. Basically I will either be shorting into a parabolic push or waiting for a very clear down trend to develop so I can manage risk effectively.
ENOC - ENOC has lost almost 50% of its value in just 5 days and finally showed a bit of strength today. I'd be looking for a WBAI type of move on this off a morning pullback. I'd like to see a pullback to the $11.40-11.50 range and see it find some support there. If that materializes then I can buy in that area and risk to under $11.25 for a $12+ target. The best possible scenario for this would be a small gap down and little morning dip. If it gaps up I will likely leave it alone since it will have exhausted a lot of its energy in the gap already and with such a negative sentiment there will be sellers all over it.
RGLS - Regalus took out a pretty significant level at $20.00 today. It's been trying to get over this level since November of last year and this is the first time since then it's been able to break above it and actually close there. That said $20 is the key in this case so I would love to see this pull back toward $20 in the morning and start putting in higher lows off of $20. If that happens I will buy it for a long with a $22-23 target and stop under $20. This one can move pretty fast so I'd be smart but liberal on your stop loss ... this isn't a stock you can get away with a 10c stop on. Just take a look at the 12:50pm candle today on the 5 min chart if you want to know what I mean. If it gaps up I'll be watching to see how it acts on the first dip to decide what to do.
NLNK - Had trouble holding over $50 today and is up pretty significantly the last month or so without much rest. I'll be watching for a short in the morning, ideally with a push early on toward/through $50 to start in and then fading off from there throughout the day. As of right now it looks like $48.50 is a key area so I'd keep that in mind once you're short from $50+.
The above are my favorites, in order. For other stuff I am watching non-aggressively I have a few of the same from the last few days and also some new additions:
- EPRS still watching for $12+ parabolic short
- CYTX I don't think it's done yet. Watching over 1.20 for a break of this wedge on the daily
- ARQL same thing...it hasn't given back much and is already showing strength again. Could run over $2.10 w/ potential target near $2.30. Be aware it'll probably be shakey at these levels though so I wouldn't bet the farm personally.
- CUR on watch for flag break over $3.80 or so.
- BCLI still holding above $4. Lots of shorts in this and it can squeeze as you can see from early 2015
- OHRP a bit extended around the $12 area...could be a nice short there
- HRTX watching for short $16+
- GERN watching for red to green if it gaps down, short if it gaps up too much.
- XXII up over 45% in just two days. Short in the $1.35-1.45 area looks good
Hope y'all are enjoying your week and let me know if you have any questions either here or you can follow me on Twitter if you wanna chat about stuff during the day or just want to follow along w/ my ideas!
Chris
Submitted March 05, 2015 at 09:38PM by greenbartrading http://ift.tt/1FhdUkr
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