Hey hey!
Time for another list of stocks for tomorrow. I had a pretty nice day today and stuck w/ my plans for the most part. I bought WPRT at $5.55 in the morning since it seemed to be holding that $5.50 area. I started in pretty small though because it was a very early trade. It did wash a bit down to the $5.40s but that's ok as if you remember my stop was under the low from Friday at $5.39 so I was sized accordingly and held through. It did pop but couldn't seem to get over the daily level at $5.72 so I ended up taking it off at $5.65 and will try it again tomorrow. Another from my list, AMWD, didn't really give me the setup I wanted but still gave a nice trade. I was actually able to break it myself at $52.50 since it was so thin but unfortunately had my cover a bit too greedy! I had an order to cover all of it at $51.52 and it faceplanted to $51.54 and then bounced 70 cents in the same candle before I could even react so I ended up taking it off for a lame 30 cent gain, lol. 'Tis the folly of playing thin parabolics I guess. My last trade was CYCC short in the high $1.60s and covering into the break of the LOD at $1.60. Unfortunately again there was minimal follow through on it (was hoping for a tag on $1.50 or lower) but still was enough to make a little bit. My scans tonight were pretty much what I expected...nothing terribly exciting but a few nice setups to add and some updates on the ones from last night. So here we go...for tomorrow:
WPRT - It seems that $5.70 is the key on this now. It did close pretty strong so I'll be watching in the morning for a weakish open and then any sign of volume to take it through $5.70. I expect that the day this does go it will easily run to $6.30-$6.50 but just gonna have to keep testing the waters until it goes. The closer I can get to $5.50 the better but I'm not opposed to playing it through $5.70 with a stop under the mid-day dip to $5.58 as long as it has power going through $5.70.
PFIE - Another one from last night. I really like the way this closed today and how it held $2.05 all day. If it gaps up I will be playing the first dip with a stop under $2.05. If it opens flat or with a small gap down, even better because I can buy closer to $2.05 and keep a stop under $2 to give it a little more room to breathe. I think if the market cooperates to the long side this can run to $2.40 on a bounce.
FLWS - A friend pointed this out to me as a parabolic which I like. I was watching it intraday and it seemed to be having trouble getting over $13 and holding. That being said an ideal situation would be a morning run THROUGH $13 to exhaust all the early shorts and build a small cushion for a late day fade. Just going to play it min by min, anticipating maybe starting to add in the $13.10-13.20 area and be willing to add more up to $13.50 if needed. If it opens weak and goes sideways above $12.85 I have no problem shorting it there with a stop over today's high but I will be much less aggressive in that situation because it really is not all that parabolic (only up 20-30% since the last consolidation).
IBIO - There was a big fat 100k offer sitting on this at $1.01 today so I expect when this offer gets taken out it will see a quick push to $1.08 (daily highs) So I'll be watching for that offer to start getting chopped up to get long and give it a 4-5 cent stop. If this breaks under today's low and drops too far I may or may not buy it on a break of $1.01 depending on how far down it comes. Basically what I DO NOT want to see is it go on a vertical run into $1.01 from like $0.92-$0.93 since it will be exhausted going into it and the move is likely to just get faded even if it takes out that offer. In that situation I will wait to see it hold above $1 and then decide what to do.
THLD - Nice bull flag on the daily on this and was ticking up in after hours so tomorrow might be the day for it if it holds the a/h numbers. It did have a pretty good sized offer (about 30k) at $4.46 and I'm not sure if that got taken out or not but if not that could be a potential pitfall. So in the morning I'll be waiting to see how it opens (gaps up, gaps down, etc) to decide what to do. On a gap up I will see if I can snag a dip to the mid $4.40s. Gap down or flat open I will be watching for red to green through that $4.46 offer. In either case, stop will be under today's low at $4.30 initially and then will tighten as necessary depending on action intraday.
ONCY - Positive news on this today but I think the move is a bit overdone. This is like the this orphan drug designation they've announced in the last 3 weeks. In fact on 2/11/15 they announced the exact same news (ODD for Reolysin for treatment of Ovarian cancer) ... they just reworded the headline to say now it's approved for cancer of the fallopian tubes ... not sure if there is any material difference but I don't think so (though yes I know there is a difference between an ovary and a fallopian tube, lol). Anyway seems like they were just trying to pump it up since the first PR didn't work, and once it gets up they will do the secondary offering as is customary with developing biotech companies. I would like to see a push toward $1.35-1.40 to get short on this tomorrow and risk to $1.45-1.50. If it gaps up enough I may start shorting in pre-market but it did close strong so I definitely will not be shorting weakness on it. If it gaps down I expect a red to green or at least an attempt at the high from today before it rolls over, so I'll be cautious in that situation.
A few I've got on watch but no specific plans for them yet:
- ASTI possible bounce
- EPRS watching for parabolic ... while it's up a lot it keeps pausing and resetting so it needs to get truly parabolic to convince me. Maybe $12+
- INTL possible parabolic soon
- LF still watching for break of that $2.69 w/ force. I think it will make a very fast run to $3+ once it breaks w/ volume.
- WWE possible red to green through $17.50s
- HGSH pumpy little illiquid turd but it looks like it could run over $3.40. Just watching for now.
That's it. Good luck to all!
Chris
Submitted March 02, 2015 at 11:03PM by greenbartrading http://ift.tt/1EcvtUa
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