Good evening guys and girls! Time for another list of stocks for tomorrow. I had a pretty boring day. I tried shorting SEE at $47.75 per my plan from last night but it started flagging and refused to roll over so I took it off flat. That turned out to be a good choice since it decided to grind up all day. Honestly I'm not that surprised since it isn't really that extended so the short setup was a bit weak but oh well, it was worth a shot. Then I shorted RDUS at $45.24 since it wouldn't pop in the morning and seemed to be weakening...I sat in that stupid thing for like 4 hours just to make 40 cents, lol but at least it was a profit! There was a big lack of volume in it today which I was hoping would actually help it fall, but there was a little bit of size at $44.60 that it couldn't seem to get through so I covered at $44.84 and that was basically all the liquidity that was left. My tiny tiny cover spiked it 20 cents and it closed at $45.32, lol. So anyway just those two trades and neither way very fruitful so I just had a small green day. As I predicted yesterday SPY was a bit weak today so it was a good idea to take off my VG and LF swings for flat/small gain (both were red today). A couple things from my lists earlier this week took off today (CYTR, SIGM) but neither was very exciting since the market was still kinda lame. Anyway, tomorrow is Friday and I didn't see a ton of really great setups but there are a few things that might take off. Sometimes these things that are right on the verge of breaking out will wait until Monday as people don't want to buy/hold over the weekend or maybe just aren't paying attention cause it's Friday (I am usually the latter, lol). So I don't usually like trading breakout type stocks on Friday especially in a weak market, but after the weekend news comes out and everyone gets all pumped up to buy on Monday morning sometimes first thing on Monday they will go crazy! Here's my list for tomorrow:
ECOM - This is my favorite type of setup. I'm not completely convinced it's ready yet but if this is weak in the morning and then goes red to green through $10.13 it could get moving. $10.50 will be the key as over that it's into this huge gap and probably has no major resistance until $12. So I'll be watching for a weakish open and will see if it holds $10 and then gets some buyers. If I see a volume push off of $10 I will grab some and risk 10-15c under $10.00 w/ the goal being for it to bust that $10.50 and get into the gap.
SIGM - This broke out over $7.30 as I expected but also as I expected, I missed it because I was focused on shorting the turd that is RDUS, lol. That being said it didn't TRULY break out today and encountered a pretty solid wall of resistance right at $7.50 intraday so I think if it breaks that and holds it will run a lot more. So I'll be watching this to see how it opens. Ideally it opens a bit under $7.50 and gives a chance to get in before it breaks, however it could gap up and if that's the case I will be using $7.50 as the support and/or stop loss to buy the first dip.
ARQL - As expected this wasn't done yesterday...these things never stop after just one day once they have a consolidation like this one did. However it started to crack at the end of the day today so I will be watching for it to go parabolic over $2 in the morning and start shorting with risk probably against the $2.30-2.40 area. If it gaps down I will use $2.00-2.10 as the risk level to short against. If it gaps down too much I will leave it alone. It's up a lot but not THAT much, so not worth chasing it.
AMRS - Same idea as ARQL...it wasn't done and I still don't think it is. Probably at this point it has a magnet for the 200dma at $3.12. So I will consider starting to short this if it goes parabolic through $3.10. I think it's risky to short this under $3 thinking it will roll over under $3 with the 200dma sitting right overhead...it prob overshoots that a bit to $3.15-3.20 and then fades back to it or under it. So I'll be looking for a parabolic to $3.10-3.20 to start short and will risk up to $3.40-3.50, though I would be mildly surprised if it got that high.
CYTX - Another parabolic that seems to have had its blowoff today. I believe there will probably be some residual buying the morning maybe to $1.30-1.40 but I suspect it fades. That area would be nearly a triple in just a couple weeks, so it is very extended. That said, I will be careful because sometimes these suckers can surprise you!
Some other things I have on the back burner still:
- CYTR started to break $3.30 today. Might continue
- THLD flagging
- CYCC possible red to green
- KBIO possible r/g though I probably won't trade this cause it will cost me a fortune in ECN fees, lol
- RGDO possible r/g
- GLDD possible bounce ... watching for drop toward $6 to get long risking a few pennies under $6 and goal being to break $6.20 for $6.40-6.50 target. Note this is down 3 days in a row but it's not parabolic so if it does bounce it probably won't be too strong, more likely a grinder.
Alright that's all I got. Happy money making :)
Chris
Submitted February 26, 2015 at 10:52PM by greenbartrading http://ift.tt/1DwUuYL
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