Yo yo! Be careful out there...'tis Friday the 13th tomorrow! ;)
I had a pretty good day. I took NKA per my plan and am still holding. I actually bought 2k at $2.00 but decided I wanted to size down later in the day since it didn't give me an opp to take the quick profit I like to have in order to build a cushion. So I have just 1k right now and am willing to add up to 2-3k more if it gives me the opportunity over the next few days but I'm also fine just holding this...it will still be a nice $500-700 gain if it does what I expect it to. I also took PRAN in premarket at $1.25 but ended up taking it off flat when it refused to break $1.30...that turned out to be a good call since it took an epic crap lol. EGRX was a BEAST from my list last night over $40 just like I expected so that was awesome! I had a small loss in CAPN from $6.84 to $6.79 and it actually turned out to be an epic short but unfortunately I couldn't get shares to short so I couldn't take it. Anyway, all in all good day and nice bounce in the market. I'm anticipating mostly choppy action tomorrow since it's Friday after a big bounce day so I won't be too aggressive, but here are some ideas:
RGDO - This tried to crack $1.45 today and got bought back up pretty quick so I think it still has a chance to go over $1.50-$1.55. Same thing as yesterday ... I'm watching for any volume to buy $1.52-1.55 and keep a stop under $1.50. I will sell partial at $1.60 just in case it fails to break. At this point I'm hoping it waits until Monday since usually Monday breakouts are more powerful, but it ran 20% last Friday from our original entry at $1.32 so who knows. Maybe people like RGDO on Fridays, lol
EGRX - Epic move today and closed strongly on highs. It can be played again for a red to green move but it needs to pull back a good amount since the stock has a big range. I'd like to see a pull to $43-$43.50 and won't buy any higher than that. once it goes to $43-43.50 I will be looking for higher lows to indicate strength and will plan to get long with a stop under the low of day at that point. To be totally honest this is not my favorite kind of red to green because it has such a huge range, so it can be tough to pick the bottom and even a small screwup can cost you a lot. So I'll be cautious on this especially since it's Friday.
NBS - I almost bought this today at $3.81 but wanted to see how it closed first. It closed very strong so I think this can run soon. I'm watching the $3.85-3.80 area for an entry with a $3.70 stop. This could be a really nice swing trade if it gets over $4.25 and I could see it hitting $4.50-4.75 over the course of a few days if it can do that. So if we can get this at $3.85 or even $3.90 the r/r is really awesome.
ATEN - Nice daily pushing against $4.50 for a pop to $5. I would like to see a pullback to $4.35-4.40 in the morning to get long and toss a stop under today's low at $4.25 or so. Pretty simple trade ... though these types, like I keep saying, many times tend to go on Mondays after everyone has had a chance to check them out over the weekend. Either way I'll be watching it closely tomorrow.
IFON - Nice short opportunity on IFON if it can break $2.34. I can see a $2.20-$2.10 target and would like to catch a quick pop back into the trend maybe $2.45-2.50 with a $2.60 stop. There's a good chance this will set up for a long under $2.50 also, so if I can catch a $2.45 entry or better I will size it initially to allow 15 cents of risk but if I see it immediately fade away or have trouble at $2.50 I will size up and keep the stop right over $2.50. Ideally it just dumps right away so we can hammer it with only 3-5 cents risk but we'll see.
I actually do have a lot of other really nice ideas but I try to keep my list very focused so that I don't get distracted trying to buy too much stuff. Here are some of my "back burner" ideas that I have mental plans for but am not focused on so I will take these trades as a secondary resort if my planned trades above don't give me any opportunities:
- OCN bounced that $9.30 level again today. I'm just watching this to coil up for the next move...I don't really see anywhere specific to buy it after today.
- AT awesome close today right into previous resistance at $2.95. Over $3 this should fly though it's prob a better swing
- ONP getting very parabolic and running into the 200dma. $1.60-65 might be a good short area
- RMGN watching for continuation over $2
- STEM another bio that looks like it could bounce watching that $1.24 level from today
- DRRX still a potential short under $1.60 for back down to the $1.40s
- TTS watching $10.77 for flag break intraday and also the daily chart
- SKYW approaching $15.70 level which seems pretty significant. Could break out there
- GALT one of very few bios that has not taken off yet. This is very low float and can run like crazy if it gets volume so keeping it on watch
- PRSS extremely thin name but setup looks nice. If it has volume I will trade it...otherwise not. I had only 1200 shares of this turd the other day and couldn't even sell that without dropping it 3% haha so when I say it's thin I mean that it is thin like an anorexic hooker. And it will treat you like one if you're not careful (yeah, you're the hooker and PRSS is your abusive pimp)
Hope everyone had a great week! Happy Friday!
Chris
Submitted March 13, 2015 at 12:22AM by greenbartrading http://ift.tt/1wCjz50
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