Hi all!
Happy spring! Hope everyone had a nice weekend. I had a decent week last week with the exception of my missed opportunity on LPI on Thursday. Other than that everything was pretty solid but I did have a red day on Monday. On Friday I did nothing but add more to my trade in CREG and stare at EJ all day waiting for it to break over $6.81, lol, but it never did so I will be watching that again tomorrow. CREG did try to break out on Friday but I think because it was Friday it didn't have much follow through. I have 6.3k shares now but was actually considering selling some if it breaks $1.12 tomorrow and rebuying more lower. I'll see how it acts in the morning and decide from there, but I was thinking if I could dump all but 3k at breakeven and then rebuy 4.5k lower at like $1.08 on a morning wick, that would build my position to 7500 shares and also lower my average to < $1.10 which would be really awesome. The risk obviously is that if I sell 3.3k flat and then it does hold $1.12 and break out I will either be adding back higher or just holding 3k when I really want 7.5-10k shares...sooooo I will have to decide on the fly what I'm gonna do! Anyway, all that said there are a LOT of hot charts out there and I like the potential I see so here are my plans:
EJ (long):
Same plan as on Friday: Beautiful daily flag that looks just about ready to break out and is also coiled into a very tight range intraday. That said I want to see this open exactly where it closed and push right out of the gate. Since this is in such a tight range I will be waiting for volume to pour in and watching level 2 to make sure I'm not just getting suckered in when it prints 100 shares at $6.82. My stop will be very tight, but will depend on how the stock opens. If it opens how I hope/expect, then my stop will be $6.75. Otherwise it may change. For what it's worth I think $6.83 is the key number for it to break over.
ICLD (long):
ICLD had some nice news on Friday and took off. It allllmost broke down at the very end of the day but then reversed and shot up very quickly into the close so I am assuming it trapped a lot of shorts. That said I'll be watching for a red to green type move if it manages to open weak, but more likely is that it gaps up and squeezes right out of the gate. If it doesn't go too far too quickly, I will long the first dip and play it for a continuation upwards. If it shoots off too much I may just leave it alone but this is a volatile stock so I'll have to be dynamic with it. The general idea is that it trapped a lot of shorts at the close so as long as they don't panic too much first thing in the morning I will get long and play it as it gets wild.
My focus list is small even though there are a lot of amazing looking charts out there...when I have too many things on my list that look perfect I try to keep my focus list to only things I have already been watching (like EJ) or stuff that has extreme crazy momentum (like ICLD). The rest of these are also awesome but I don't want to give them too much focus and end up getting distracted from CREG, ICLD or EJ:
RMBS, CCIH, VIMC, HMSY (long) - All awesome flag patterns that could break out at any time
IPCI (long) - Been holding under $3 for a while now and keeps hinting at that big push over $3.15. That's what I'm waiting for
TCPI (long) - Earnings on Monday and they ousted the CEO that caused the huge drop back in February. If earnings are good it could be a catalyst to break $4.00 and if it does that the squeeze may be on...the stock has only 1.8m shares in the float and 32% short interest, so if stop losses start triggering and it has good news this will be a rocket
RMGN (long) - Thin stock but former runner...looks like it can push if it gets over $1.55
SVU, SCMP, CYTR, AVEO, JUNO (long) - All potential bounce plays. Especially SCMP, CYTR, JUNO and AVEO, since they are biotech and XLV and IBB are both in a bounce area
CLNE (short) - Parabolic short watch...probably $10.50+ is a good spot to start. I won't be trading this cause I know I won't have shares but thought I'd throw it out there for anyone who does
CMCM (long) - Bounce area on the daily within its flag, and still over 80% short interest. Nice area for a swing from here if you want to anticipate the break of $25 which will likely send it off
CYBR (long) - Breakout look over $67ish
EFOI (long) - Just for fun...this daily is super hot but the stock is thinnnnn so I probably won't touch it. If it does get some volume it could easily pop to $6.50-7 in a single day IMO
By the way if you missed it when I posted this weekend I also did a new blog post this weekend about high frequency trading so check that out here and let me know if you have any questions about it! I'm fascinated by this stuff because I'm a geek at heart so I love trying to figure it all out and understand exactly what these algos are doing second by second. Really interesting stuff. Anyway that's it for my list today...hope everyone has a great start to the week!
Chris
Submitted May 03, 2015 at 08:17PM by ghostofgbt http://ift.tt/1bqK6bv
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