Hi everyone!
Fun day in the markets today though I actually finished flat! I got a little caught up in the OREX commotion and spent too much time "experimenting" with it, lol. My first trade today was in ONCY from my list...short at $1.24 in premarket as I had planned. That actually worked pretty well but after the open it started to hold and volume was just pouring in like crazy so I sized down a bit and then it tanked while I had minimal size...so I made a huge percentage gain but not much profit. FLWS also from the list worked pretty well but again it didn't go exactly as I planned so I only took it with small size. I shorted it at 12.95 and held all day to finally cover at $12.70 around 2pm. I could have given it a bit more time but given the rest of the day didn't want to risk giving back profits. Also in the interim I did take WPRT however I didn't like the setup it gave at $5.70 so I waited to buy the secondary breakout which I only got a partial fill on at $5.84 and then it couldn't break 6 anyway, so ended up taking that off flat. And finally OREX...I started short into this at $8.37 but wasn't aggressive enough adding my 2nd and 3rd pieces so my average was too low to justify taking partial profits. Basically I just mismanaged the trade and misjudged how high it could go. I did get my average up to $8.6153 which was nice but at that point I had already taken some pain on it and seeing an opportunity to get out for a small loss in the $8.80s I took it. Unfortunately that was exactly where I needed to be adding my final piece, lol as it proceeded to fade and hit $7.40s soon after I exited. Oh well, so anyway just a tricky day for me as I couldn't really get anything going but this is the name of the game...manage risk on the days you can't get the bullet and capitalize on the days you can! I do have a secret though...I also bought CERE at $0.3750 in my Robinhood account thanks to an awesome alert by my man Jimmy Smith so that basically trumped everything from today and was my monster at over a 20% gain (as of the close). That being said I don't count it in today's profits because it's a swing trade. Anyway, so here's my plan for tomorrow ... lots of possibilities but nothing rock solid so this will be longer and I'll try to order them in order of preference:
AAOI - Similar to FLWS today. Any morning push toward $13.15 to $13.20 should get faded so I will be looking to short there with a stop over $13.46. Goal is to break $13 and hopefully fade toward $12.50. This is pretty much the only stock I REALLY like for tomorrow. All others I found are sub-par at best IMO.
NES - I'm not really sure what to think on this one. It looked beautiful before today (much like WPRT) but now it seems a bit busted. I guess maybe a pullback to the $3.80-85 area could be buyable but I'm not overly attached to it. If it set up cleanly under $4.33 I'd be willing to take a flat top breakout type move on it.
STEM Strong close on this today right above the 200dma. I'd like to see a weak open in the $1.32-1.35 range for a red to green move with a $1.50 target.
JRJC - This is a low floater that has a history of big runs so I think a lot of people will underestimate how high it can go and end up trapped. That being said it was quite extended into the close so I would like to see a pretty heavy pullback before going long...maybe to $6.00-$6.10. If we get that and start to see a base and higher lows we can take it long w/ a stop under $6. If it gaps up or sticks at today's high at the open I will leave it alone unless to short near $7.
FEYE - Nice flag developing on the daily chart on this. I really liked the action intraday and this is a nice liquid name so it should be easy to trade. The problem is the range even within the flag is quite large (though I suppose you could look at that as a positive too but I prefer a tighter range). Anyway that being said I would like to see a morning pull to the $44.60 area to get long. I wouldn't want to go too heavy on this til I see a trend develop either. So if we get a pullback toward $44.60 in the morning I will start in long with small size and add once it develops a trend with the goal being for it to break $45.50 and run through $46. If it sticks at open that's ok too and as long as it shows some volume through $45 I have no problem playing it there with a 40-50 cent stop.
YRCW - YRCW has a history of multi-day downward failures so I could see a pop on this in the morning toward $18.80 and then weakness to take it back to $18 before it bounces on the daily. It had some nice support developing at $18.30 intraday today so that would be the crack spot, but you want to be in before that since it will have some significant support near $18 and the RR is not great if shorting at $18.30 (unless of course you keep a tight stop I guess, but shorting weakness is a sucker's game in this market IMO)
CREG - Another extended name that is up a lot but not in quite a parabolic fashion so I think it can go higher. I would be interested in shorting this in the $1.35-1.40 area, no lower.
STKL - I missed this crack today at $10 intraday and was pretty disappointed cause it was an instant 40c gain, but what can ya do. That being said I think if this bounces back toward $10 in the morning and can't get through it we could get a continuation to under $9.50, maybe to 9 bucks or so. This has nice potential but it can move very fast so stay safe!
CAPN Ahhh the infamous CAPN aka CAPN liquidity crunch, lol. In true CAPN fashion it spiked out of nowhere today and shot up a buck before anyone could finish typing in their orders, lol. I think if this stays strong in the morning we could get another epic squeeze over $8 so I will be watching this very closely in the morning. Be especially careful if trading this ESPECIALLY if you are shorting as I can see this easily running 50%-100% if it gets over $8 and traps some shorts. There are likely already many trapped and it's extremely low float and very wild. Huge potential, but where there is lots of reward there is lots of risk. Just stay safe is all I will say. I'll personally be only watching it for intraday setups, and have no specific plan on it right now because I need to see how it opens.
I also have CERE which I plan to sell at $0.49 from my $0.3750 buy today. Over $0.50 I think it can run to $0.60-65 but remember it has already doubled in just a couple weeks so I don't wanna be too greedy, especially considering it is a penny turd and most of these will eventually end up at $0 or just get reverse split a million times until they go bankrupt and get delisted. They are trading vehicles only, not investments, so that's how I'll treat it.
Hope everyone has a good day...despite the convoluted list I'm pretty pumped about tomorrow and I have a feeling it's gonna be a hot day! Let's go get it!
Chris
Submitted March 03, 2015 at 10:23PM by greenbartrading http://ift.tt/1M4fic9
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