Hi everyone!
Nice day with a killer move in REN from my watchlist last week. I grabbed it at $1.11 yesterday and sold 1/2 at $1.27 today and am swinging the rest overnight again. I think we see $1.50-1.60 on it. I also started new swings in HK at $1.26, PBMD at $2.23 and SYMX at $1.40, and am still holding my SSYS swing from $37.39 yesterday. I planned for PBMD and SYMX to be day trades but both were just kinda chillin in the range I bought them so I decided since SPY is in bounce mode I'd give them a chance overnight. I may just end up getting out of both flat or for small losses tomorrow but we'll see...I think PBMD has some real potential over $2.50 so I wanted to be a little greedy even though I had a nice profit on it today! Anyway overall a good day thanks mostly to REN. I don't see a ton of great stuff on my scans tonight and I probably won't take anything new tomorrow since I already have five swings, but there were a couple gems I figured I'll make a plan for just in case, and for when/if I unload SYMX and PBMD tomorrow:
MBLY (long):
Awesome move on this today after the NTSB announced they are pushing to make collision avoidance systems standard in all vehicles. MBLY develops these kinds of systems so it should create a lot of hype in the stock. I will be looking for a pullback in the morning to the mid to low $47s in order to get long similar to how I entered SSYS (basically wait for flush then look for higher lows and play vs LOD). It's also very possible that this will gap up so if it does I will just wait for a trend to develop and see if we can buy some dips. This is a perfect type of situation since we have a positive news catalyst on a low float liquid stock that is approaching a major daily breakout level and also have the market in bounce mode and people buying hype stocks and throwing risk around. I could see this push to $50+ tomorrow.
HRTX (short):
As we've been expecting for a few days HRTX announced a proposed secondary offering after hours which caused a little crack under $26. Remember that two weeks ago this stock was only 50% of what it is today and this move was due to positive phase 3 trial results. I do think the stock can go either way as phase 3 is a significant milestone but I know there is a heavy short bias on it also so I'm putting it here as a short. My plan on it is to see how it opens and let it settle, then pick a trend. If it trends sideways or up I will leave it alone but if it begins to trend down I will short pops and join in since it's very overextended. I'd advise caution because there will be a lot of people shorting this and it will be crowded which can make it act weird, so let it settle and let the trade come to you. Don't think it HAS to go down just because they did an offering...they didn't say how much, when, or what price they will do it at so there is a possibility it can still squeeze especially if it suckers in a lot of early shorts with a lame breakdown in the morning. Anyway point is just join the trend after it's formed and you have a defined risk level.
Here are some others from past lists and also from my scans that could be interesting in the coming days:
CLNE (long) - Still trying to break that $8 level. Watching for a bounce soon
ENZN (long) - Coiling around $1.30 ... very tight so I believe a breakout to $1.50-1.60 is imminent
SRPT (long) - Nice breakout in the $27 area
RCPI (long/short) - This one could go either way. Just putting it on my list for day trades ... could be nothing but it kinda has that look like it wants to pull a PTBI/PBMD/VLTC type move
CUR (short) - Watching for parabolic push up to $2.60-2.75 for short
AMBA (short) - Stalking for a blowoff to $120-130 for short. So far it's just grinding so it can keep going. Remember it's a $100 stock so it can get wild and see $140, $150 etc. Just keep it on radar or play long on dips til it's ready
HACK (no bias) - This isn't really a trade but this ETF has been strong lately and it can be a guide for stuff like CYBR, MBLY, FEYE, etc. I'm stalking CYBR for a dip buy and using HACK as the guide rather than SPY. If you're trading cybersecurity or tech plays then HACK could be useful as a guide for them
Hope everyone had an awesome day!
Chris
Submitted June 09, 2015 at 09:15PM by ghostofgbt http://ift.tt/1MmC3sR
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