Hey hey! Gonna do my watchlist here again instead of on Twitter since we got some good discussion going last night. I had a pretty good day. CYBR and OCN were my favorite shorts but both were busted by a gap (OCN up and CYBR down) so I didn't take either, even though the both worked lol. I did end up taking ZIOP long at 9.86 and sold 10.06, 10.26 and 10.41. I also found an intraday spike in VPCO but it didn't really follow through so I sold it for a nickel or so. Overall it was kinda what I expected for the day. since we had a huge day in SPY on Friday and usually after that kinda day you will just get a tight range day like we got today. So that being said there weren't a ton of opportunities from my watchlist and had to play stuff that was in the news like BIOC, RIGL, etc. Anyway no big deal...like I said had a nice day and just took those two trades. I wiped a lot of the ideas from last night's watchlist because they just kinda farted around today and messed up the charts, but just because they're not on tonight's doesn't mean I've stopped watching them. This is just kinda what happens when you're a day trader...you look at stuff, build a plan, it changes from day to day and some things work and some you just forget about. Anyway, IMGN and VG are still on the list as I still have swings in them and still plan to add to VG (haven't added any more yet) and let IMGN run over $8. HELI and LF still in play but I took them off to remain focused on what's ready immediately. XOMA, THRX, PRSS, MTL all worked for shorts today so those plays are over for me. ECOM I removed cause it broke $9.50 and I no longer like the pattern. TKMR same thing...really don't like it much for a bounce anymore. Ok, so onto tonight's list!
INO - This is my favorite. I'd like to see a gap up and or bounce in the morning toward $6.90 to $7.00 to get short. Risk is pretty low w/ stop loss right above $7.15 and target low 6's once it breaks the base at $6.65 on the daily chart. Of all the things on my list this is probably the only one that looks immediately actionable tomorrow. If I wake up and find this at $6.90 to $7 in premarket I will start in short there and add throughout the day as it fades
CPRX - This had a really nice run over $3.00 and went parabolic toward $4. Now it's just consolidating that big move at its previous weekly high around $3.60. I'll be watching for any volume in this to take it through that $3.60 area with a target of $4+. Pay close attention around the round number at $3.50 as often that's where these will break out.
CYTR - Not ready yet, but seems to be getting close. I set an alert over $3.22. The breakout is over $3.30 with $3.55-3.70 target if day trading, maybe $4+ if swinging. Like CPRX I will be watching for any volume push intraday to go long. If I happen to miss the spike, then I will buy the first dip toward $3.30 as long as it doesn't go too far toward the target.
CAPN, ANTH - Both of these are wild stocks and can squeeze like crazy. If you're not experienced I recommend you definitely do NOT trade CAPN. ANTH might be ok but you still should have a good amount of experience w/ risk management and handling wild stocks like this. For these I will just be watching for intraday setups. I don't have a plan on them specifically right now because they don't have any defined risk levels. Maybe $4.80-$4.85 area on ANTH would be an ok entry for a red to green move. If you don't know what a red to green move is or how to trade one, it's prob best to just stay away, watch and learn. Most likely I will leave these alone until they settle down in the morning for a couple reasons: 1) the spread will be huge and they will be extremely volatile and risky and 2) I'll be focused on shorting INO lol
ADHD - Last one! It's still a bit choppy intraday but I'm watching the $7.80 level to break and hold. If it does hold then I will play the $8 breakout with risk toward $7.80 and plan to sell into the gap. This can be either a day trade or a swing trade depending on how you play it. If swing trade, maybe watch to see if it will hold $7 and grab entry as close to there as possible with your risk under $7. If day trading it, like I said probably $7.80 will get it moving and risk to $7.80 if buying the $8 breakout, or $7.40 if anticipating at $7.80.
Hope everyone had a good day. Feel free to ask questions!
Chris
Submitted February 23, 2015 at 10:27PM by greenbartrading http://ift.tt/1DMDMHp
No comments:
Post a Comment