Hey y'all!
Great day today with some awesome trades from the list last night and one old alert that triggered. My main trade today was actually an old alert on AMPE at 5.96 which I caught at $5.97 very early in the morning and sold $6.20, $6.23 and $6.33. I also took off my JOB swing in the $1.30s from yesterday (bought at $1.20 before the close). It didn't really hold up so decided not to swing the rest any longer. I had a couple small losses in SUPN and PRSS (note to self...don't try to push stocks around on your own, you are not a market maker lol) and then a quick scalp winner on UVXY toward the end of the day as the market dumped into the close. OCN was also awesome and followed my idea from last night pretty much perfectly (at least so far) with the bounce at $9.29 and then red to green. I expect it will probably continue up tomorrow so I'll be watching again for a push over the $9.60 area where it was chillin today! Lastly, EPRS finally cracked today...it didn't give the push to $12+ I wanted but still was a really nice short under $11 with a solid crack all the way to $9.50. All in all a nice day and I found a bunch of nice stuff for tomorrow so I can't complain! Here are some ideas for tomorrow:
RGDO - This has now been flagging for 3 days since its big breakout on Friday and keep trying to take out $1.60. I think tomorrow might be the day it goes again so I will be looking to both sell the next piece of my swing from $1.32 (looking for $1.75 next target) and also add for a day trade on any volume expansion through $1.50 like we've seen the last two days. I will unload a bit of the (potential) day trade into the $1.60 area just in case it isn't ready yet and then keep a tight/breakeven stop on the rest. Once it breaks and holds over $1.63 I may add back and follow the trend, depending on how much size I can get under $1.60.
PRAN - Really nice pattern on this under $1.25. It tried yesterday to break over the 2/26 high but got sold off...today it popped up again and actually held this time so I anticipate it will probably go tomorrow. I'd love to get under $1.25 on this (maybe $1.22 or $1.23) but I'm ok chasing it too as long as I don't have to chase over $1.30. If volume holds up like it did today I can see this hitting $1.50 tomorrow and possibly a bit higher. Biotech has been a hot sector lately and these little $1 turd biotech stocks have been screaming the last month or so, so I wouldn't be surprised to see PRAN do the same (even though the company is probably crap considering their main drug candidate failed clinical trials back in March 2014. Ehh what can I say...I am a trader not an investor, so I don't mind buying garbage as long as I can sell it the same day lol)
NKA - I really love the daily on this stock. It's an energy name which have been beaten down for months and this one is finally showing a bottoming pattern. I expect over $2 this will make a really nice swing and could make a quick run to $3. For my purposes I'll be day trading it and possibly swinging it also. Tomorrow I'd love to see a pullback in the morning toward $1.90 but I am actually ok buying this on a setup right under $2 also. I see a lot of upside potential in it so I'd be willing to give it a stop under $1.60 for a swing and add more if it doesn't go right away tomorrow. This isn't a long term move, but a setup I have seen work many times (RGDO actually was very similar) for a quick 3-5 day 30-50% move. It requires a wide stop if you're going to swing it but I think it is worth the risk if you look at what it did from 2/13 to 2/18 running from $1.50ish to $2.50ish in two days. It seems after earnings on 2/2 along with the suspension of common distributions there was bound to be some nasty selling but that looks exhausted at this point and we should start to see some short-term value buyers and technical traders come in to have some fun.
I also have a bunch of ideas that are sub-par so I'm just making basic plans on them and will play them as they develop more:
- OCN like I said watching $9.60ish for a continuation
- AMPE possible red to green
- CAPN possible red to green and push through $7.30 to $8+ ... was flagging nicely intraday today
- CYTK watching over $8.10 but kinda slow right now so not super attached to it
- PTCT possible red to green for $76 daily breakout
- BCLI Still watching over $4.50 for squeeze (though short % is actually pretty exhausted at this point so I dunno how squeezey it'll be without some news to back it up)
- EGRX flagging on the daily. Wild stock but could run again over $40.
- MCHX Similar pattern to RGDO, PRAN, NKA ... could get moving over $4.50
Alright that's it for now! Message me or respond here if ya have any questions or follow me on Twitter ! Hope everyone's having a good week so far
Chris
Submitted March 11, 2015 at 11:51PM by greenbartrading http://ift.tt/1B6IOrp
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