So it's been a while since I posted one of these but I've been more active on Reddit the last few days and decided I'd give y'all some ideas for the upcoming days. Just some stuff I'm watching. For those who don't know I used to do these every night but I kinda fell out of it cause I got pretty busy with trading and mentoring and crap so I resorted to posting mostly on Twitter (@ckz8780 if you wanna follow me in case I go missing here again, lol). Anyway I'm a full time trader and I trade a mix of day/swing trading in momentum stocks, mostly lower priced but not opposed or biased in any case really. I don't do options or futures or any of that...just equities and only momentum names...no boring crap like MSFT or GE or stuff that I need to hold for 20 yrs to see a gain, lol. Ok so here we go...here are some ideas!
VG - If this breaks over $4.60 it could get some legs to move up toward $5.00 I have a small starter position at $4.59 but anticipate I'll probably need to add more on Monday and/or Tuesday maybe in the $4.30-$4.40 range, but either way just getting started into it. I chased a little on the entry so I just bought a small piece and will average in to get my average where I want it w/ my full size position! Ideally that would be maybe like $4.35-4.45 with a stop loss under $4.20 or so. If it takes out $5 it could get jiggy!
LF - I like this for a bounce toward $3 if it gets over $2.61. There were some good sized blocks sitting at $2.60 on Friday but it couldn't get through them. Anyway looks like an easy push toward $3 if it can take out that area and if it goes it should go all in 1-2 days so the stop can be tight, right under $2.50 ideally. Don't chase this too high off this idea, cause these types of trades usually just spike and then fizzle. If you can't day trade or plan to buy this at $2.98 and expect it to run to 4 bucks it's prob not gonna happen! Just a quick play from $2.60 to $3, in and out!
IMGN - I'm already long from $7.45 on this and plan to sell some around $7.95, then again $8.45, and final piece $8.50-$9.00. The reason I'm putting it on this list is that if it takes out $7.55 to the downside it could give an opportunity to snag it in the $7.30-$7.40 area if anyone wanted to join in. My stop is right under $7.20. If it holds $7.55 and can break the recent daily high ($7.75) with force and close strong then I will tighten my stop to break even and just let it ride. If it does drop $7.55 and return to my buy price I will add more but will keep stop loss the same. Not adding any additional risk really just thinking if it comes back I can pick up a few more shares around the same price and consider it a freebie!
HELI - Similar plan to LF. I like how this closed on Friday and could see it take out $2.40 and push to $2.75 or so. The only thing I don't like on this one is it was a bit extended at the close on Friday so I would like to see a pullback to the $2.20 area to enter. This can either be for a day trade or a swing. If I can catch entry $2.20-2.25 and risk to under $2, it gives me a solid reward to risk taking partial profits around $2.50 and the rest $2.75-$3.
XOMA, CYBR, THRX, OCN, PRSS, MTL - All of these are getting very extended on their daily charts. Usually when you see a stock go straight up like this for 7, 8, 10, 12 days in a row or rise very quickly 50% or 75% or more in just a few days, they will have a quick snapback (these moves are usually called parabolics, since they resemble a parabola). Anyway the idea is to start into a small short position on the way up and then add to your position once the stock confirms it is starting to weaken intraday and you can more clearly define your risk. So I will be watching all of these for parabolic short entries in the next few days since they're all getting up there pretty good, and the market itself (SPY, QQQ, DIA, IWM, etc) is also now green 7-8 days in a row and extended into all time highs. These things need a rest and I will be there to short them as they weaken a bit. Just some arbitrary ideas for numbers I think they may start to weaken (and these will change daily depending on how they act, but these are my initial thoughts): THRX around $20, XOMA maybe $4.20-$4.40, CYBR $75-$80, MTL $1.90-$2.00, PRSS $4.00-$4.15, OCN $10.10-$10.30. Some of them are already starting to show weakness (MTL and OCN) so I'm more likely to start into those and just watch the others. I wouldn't mind shorting a bounce on OCN in the morning up toward $10-10.20 with my goal being to just let it roll over, take out Friday's low and fade to $9, $8.50...wherever it wants to go. MTL same deal, I wouldn't mind a short in the $1.90-$2.00 area or possibly even a gap up to $1.85 and just risk a nickel or a dime or so. By far the riskiest of these plays is CYBR so I will be VERY cautious on that one and am more likely to wait until after it shows weakness to try shorting it than to anticipate it...this could easily go to $90-100 since it's very low float and it's a hype stock. I wouldn't really recommend anyone trade these types of plays unless you have a good amount of experience but thought I'd throw them out there for the more advanced guys/girls if they are interested!
ZIOP - This one's just kinda grinding along on the daily, but seems to behave well intraday. I am just keeping it on watch for a break over $10. If it starts making higher lows on a 15min or 30min chart off this $9.30 area, I may snag a few shares in anticipation of the $10 break and risk down to $9.00 or so. It's more of just a trend play on the daily than anything, so just pick some area where you can clearly define your risk and start in small in case it goes against you so you can stomach a bit of fluctuation until it (hopefully) breaks $10.
ECOM - I don't think this is ready yet, but it's kind of a similar play to LF and HELI. It' s just totally smoked out on the daily and intraday it seems to have sort of found a bottom, so I'm thinking when it takes out $10 and holds it will probably start to fill this big gap a little bit. Again I don't really go for a huge gain on these types of trades ... maybe a quick pop to $11-12 and then take it off. I'm not looking to get rich, just take my profit and move onto the next w/ minimal stress. Anyway just something to keep an eye on, especially around $10.00
TKMR - Ok this is my last idea for now...this is now red 8 days in a row and sitting right on top of its major moving averages so just like a parabolic short will fade back a bit after being up 7-8 days in a row, the opposite is usually true too: I feel it's probably due for a small bounce soon. It was showing some strength intraday on Friday so if it can pull back and hold $19.50-$19.60 that might be a nice entry point with risk down to under Friday's low (say $19.20 or so to make it simple). If it can take out and hold above $20 I could see this bounce for a few days toward $21-22. Only thing I'll say is remember that SPY and the rest of the market is pretty extended so if the market pulls back and you're long TKMR you may end up fighting the general trend which is always annoying. I feel the same about VG, LF, IMGN and my other long ideas...it sucks to be long a bunch of stocks when the market is pegged at all time highs but if the stock itself is strong then the market will not have as much bearing on it.
Again guys/girls these are JUST ideas and I may/may not trade these. Just cause I posted them here doesn't mean I'm buying/shorting them. I trade different stuff every day but always have this mentality of having a plan on a number of stocks so that I can always capitalize on opportunities when they arise.
As always feel free to ask questions or PM me if you wanna learn more about how I pick these stocks or what my thought process is. I'm always willing to help and there is no such thing as a stupid question! Only thing I will NOT answer is "what are your thoughts on [insert stock here]?" - tell me your plan on it, what you're thinking...where you want to buy it, why, what your target is, where your stop loss would be, etc and I will tell you if I agree or what my thoughts are on it. There are a billion ways to make money in the market; what matters is that you have a plan so as long as you have a plan you can trade whatever you want however you see fit!
Hope this helps and I'll try to do some more of these posts in the future ... Also I've been working on my new site so hopefully that will be up soon and I can start blogging these ideas nightly again. Until then feel free to just follow me on Twitter or message me / reply here and I'll offer my thoughts on whatever you need!
Good luck to all!
Chris
Submitted February 22, 2015 at 08:38PM by greenbartrading http://ift.tt/1FgVhNb
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