Hey y'all, doing my post a little early tonight cause I'm going to a concert so I won't be around later. In true trader fashion I bounced back after my loss yesterday and crushed it with 3 solid wins so I had a great day! Per my plan I started long into CYTX at $1.22 in premarket and ended up just keeping the starter which was enough for a rock solid gain selling at $1.37 after the morning run. I plan to watch it again tomorrow for the break of daily highs. Also I took a nice scalp in GERN at $4.21 when it broke the first flag...though I missed the first run I was able to snag a nickel on it which was enough to add a nice chunk to the day. I did try DRRX but couldn't get fille d(I had an order at $1.89 and it couldn't get over $1.85) but it collapsed as expected, lol. Finally my doozie for the day was REPH which I had been watching all morning and nailed right at 11:25am at $4.67, selling at $5.01 and $5.31 for a 13.7% gain on my final sell. finally I started a small swing in JOB which I expect will pop over $1.25 tomorrow. More details on that below. Sometimes you have these red days like I had yesterday where just nothing seems to work...but what's important is that you STICK TO YOUR SYSTEM and keep playing the same way that has been proven to work and don't get discouraged...as long as you followed your plan that's all you can do and that's what I did...it didn't work yesterday but I know my system is solid so I followed the same system today and BOOM. Crushed the whole loss plus more which is all that matters in the end. Here's my gameplan for tomorrow:
CYTX - I'm hoping for a pretty much flat open on this and a quick morning push to take it through $1.42 on the daily. This needs to stay very tight in the morning or I won't play it becuase being the third up day and being a bit extended into the daily breakout, it's likely it only pushes to $1.50 or so before resting. The company has earnings after the close on Thursday so I'm guessing this is just a pre-earnings run up and it will start to slow down a bit on Thursday as people wait for the announcement. So anyway I'm looking for a flat open and push through $1.36 to get the daily breakout going and my stop will be very tight...like $1.32-1.30.
JOB - I took a swing at the end of the day in this at $1.20 in anticipation of the daily breakout at $1.25 which I expect tomorrow. I sized it so if it tanks in the morning I'm fine, but if it holds up like I expect it will I will add more when I see volume in the morning. Don't chase too much as I think the target is probably only $1.40 or so tops (at least for tomorrow). If it doesn't hold up and drops in the morning I will consider adding more but it depends on how it drops. If it drifts down I will add...if it just tanks I will hold off until it decides whether it will recover or not.
RGDO - I'm still holding half my swing on this in Robinhood but it is setting up beautifully for a day trade also. It seems to be holding the $1.44 level (daily breakout area, so not surprising) and if I see a push in the morning through $1.52 like we got today I will day trade it also. Sometimes the third day after a big push will be when it takes off again so I'd be ok buying this at $1.52-$1.54 with a stop tight under $1.50 and giving it a $1.750$1.80 target for the day trade. As far as the swing I plan to sell 1/4 more at $1.75 and the last near $2.
OCN - This had a great day despite the market weakness. I think it can continue through $10 to $10.50 or so tomorrow, especially if the market bounces. I'll be watching for a pullback to $9.25-$9.30 where it broke out from the daily high on 3/3-3/4. I don't want to buy into a washout but if it can find support there and start to round out I will buy on any strength for a red to green move with a stop under the low of the day. Basically I don't want to see it just tank...it's fine if it drops fast but I want to see it prove that it has support before I buy.
STAA - Monster close on this one and nice daily setup. I'll be watching to see how it acts in the morning and expect to see it consolidate for a while so this will be a later morning play. I am planning to trade it only if it sets up under $7.50 OR can find solid support on a clean pullback. It's very extended right now so I want to see it relax for a little bit before it takes off again. Otherwise the break will be sold off quickly.
That's all I have time to post for right now but that should get ya started at least! I'm also still watching CRMD and added VLSR for a flag break and possible red to greed on ACAD.
Have fun!
Chris
Submitted March 10, 2015 at 07:00PM by greenbartrading http://ift.tt/1BusWTh
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