Hey y'all!
Great week in the market with lots of volatility and little biotechs starting to come back to life. The volume fizzled at the end of the week due to the holiday which made Friday a bit more difficult for day trading but overall it was a good week. I had a lot of fun doing my first full week of my new one on one mentoring service with my students as I got to work with a different student each day and trade live on Skype all day with them. Great way to share ideas and learn more on both sides of the connection and one of my students actually made a really badass call on LIVE and made us like 15% in half an hour!! As far as the market I am starting to see a lot of smaller momo stocks come back to life as I think the "tech bounce" thing is starting to get a little old now, so I've been watching things like LIVE, ISR, IGC, VDSI, YOD, etc. All these hot little momo crazy buggers that ran a couple months ago are starting to perk up again. That's what I'm focusing on for the next week or so, but also watching intraday movers and news plays as always! Here is a list of stuff I'm paying attention to for tomorrow and the first couple days next week:
ICLD long for a flag breakout. I took a small starter position in this on Friday for a swing at $5.10, and day traded it from $4.70 to $5.00 or so to add a little cushion. I think this thing rips next week.
LIVE long for a continuation if it gaps to near $5. It will probably get a quick push through the round number but you gotta be agile with this one. It's a tricky sucker but can make you some big ass gains if you play it right!
MNTA long over $12.32 for a range breakout/bottom bounce play
CYTK long over $4.94 for a range break/bottom bounce play
WMGI long over $30.50 for a range breakout
ISR, YOD, VDSI long for continuation plays/day trades
I'm also still stalking RDNT (over $6.40), ZU (over $37.38) and AVNR (over $5.00) long. I think these have more upside in the coming weeks but need a few more days to get ready. BTW while all my picks are long, I am also watching anything that has run hard this past week for shorts because the market is pretty much pegged at the high and I think it could roll over this week so shorts can be profitable too. Only reason I am watching all these longs is that they are the types of stocks that generally do not pay any attention to what the market does. Just be ready to play both sides!
Hope everyone has a great week.
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. BEFORE you ask "what are your thoughts on [insert symbol here]?" here is my answer: Tell me what your thoughts are and I will tell you if I agree! It's impossible for me to give thoughts when I have no idea what your plan is. Other than that if ya have any questions, feel free to ask below and as always, share your ideas too. The more the merrier!
Submitted May 26, 2014 at 11:38PM by greenbartrading http://ift.tt/1tIhUVL
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