Hey everyone!
Another range day in the market but at least we held the gap and actually seemed somewhat bullish for most of the day, and closed above the 20dma on the daily! Small cap momentum continues to be scarce but today we had a few nice runners, mostly news stuff, in BIOF and TEVA. Also ALIM finally broke out through that 7.70 level and held and VIMC from my list yesterday went for a nice rip. I just took it for a small experimental play with 100 shares but it worked great and I made 10% despite the small size. Overall I had a pretty good day demonstrating good reward to risk with a 3/5 win rate, a couple very small losses and one nice win in BIOF to close the day with 150 bucks in gains. I'm really hoping the market picks up soon so I can start laying more size on these things, as these $150 days are getting really boring but I just can't justify taking a ton of risk when the market is going sideways. Anyway, there isn't much on my scanner but here are a couple ideas:
ALIM long for a continuation over highs. It's probably clear to like $8.50 for now. Nice volume expansion today.
VIMC long for a continuation. I thought this sucker was dead after I took it from $4.24 to $4.67 but it revived itself in the last two candles on huge volume so I will continue to watch tomorrow.
TEVA long for a continuation
ARTX short (looks like they missed earnings after hours)
Hope everyone had a nice day!
Chris
DISCLAIMER: I am a day/swing trader. LONG means I'm expecting price to go up, not that it's a long term trade. SHORT means I'm expecting price to go down, not that it's a short term trade. Just because I post these here does not necessarily mean I'm buying/shorting them. They are ONLY ideas, may not be traded at all, and if I do take them, 99% of the positions will be closed by the end of the day. One other thing...any swing recommendations should be taken w/ extreme caution - lock in some profits as I am not checking these to see if they have earnings or anything before posting, so if they do they could make crazy moves. Do your own DD on them. If ya have any questions, feel free to ask below and as always, share your ideas too. The more the merrier!
Submitted March 31, 2014 at 09:57PM by greenbartrading http://ift.tt/1msDRo2