Hey y'all!
Sorry about missing my post last night, I was teaching til 11:30pm since I was working w/ someone on the west coast. That said I've had a pretty hot start to the week so far! Monday was a bit slow since most of my trades just came back to break even since I was a little too greedy on profits, but today was pretty nice! I short EGRX in the morning at $54.93 and covered $53.66 and $52.73 which was my big winner. Then I took a small scalp on AMCO, short at $1.76 and covered at $1.66 on the parabolic push intraday. I did take a small loss on IPCI from $3.10 to $3.00 but it was just way too thin to even mess with today. I do think this will be hot when it breaks over $3.15 though so I am willing to try a few times for losses in order to get the timing right. I also started a swing in MBLX at $0.82 (also going to be doing an awesome blog post about high frequency trading based on this trade!) and on Monday I started a swing on DCIX at $2.65 anticipating the $2.70 breakout so I'm holding that for a big push once it gets moving. So anyway, so far so good! Here's my plan for tomorrow:
NES (long):
This stock has been trying to get over $4.00 for ages and seems to finally be ready to do it. I'm watching for any sign of strength with big volume through $4.00 with a stop in the mid $3.80s. I will take profits relatively quickly on the first trade and then look for it to develop a trend where I will start buying dips and ride it up, hopefully through $4.30 to where it can really get moving. If this gets some legs I can see it easily hitting $5.00.
NYMX (long):
I started into this mid-day today and was planning to just treat it as a day trade but it held the support all day and closed right where I bought it basically so I figured why not hold overnight and see if it will push in the morning. If it gets some juice in the morning it could pop through $1.35 and shoot up to $1.55-1.60. My stop is right under today's consolidation at $1.28 and will stay there even if I add more.
SVU (long):
It looks like SVU is down heavily today on negative earnings news however it's also down 12 days in a row and knifed through the 200 day moving average so I could see it doing a little relief bounce at the very least. So I don't have a specific price in mind where I want this to bounce but I feel it could be anywhere in this area between $9.50 and $9.25 so I will be watching those areas for potential strength. I'll be looking for it to develop higher lows and play it with risk against the lows whenever it forms them, and will edge in small at first since I may need to buy a few times to get a good average and find the bottom.
That's it for my focus list. I sold my CMCM swing from a while ago for a tiny gain since I figure the market and China were both weakening so I could get it lower. I may or may not rebuy, but anyway here are my "back burner" ideas:
WUBA (short) - Possible green to red. Stock is very extended
ALSK (short) - Stock is getting pretty parabolic. Watching for a blowoff top toward $2.45-2.50 to start short. Might need to swing this since it's kind of a slow mover
MCHX (long) - Breakout area over $4.68 (thanks Sandman!)
LODE (long) - Watching $0.83 for breakout
RMBS (long) - Flagging on the daily but might need a few more days. I'd like to see it coil up under $14.25 so it will be a little lower risk and not in such a wide range
IPCI (long) - Watching $3.15 for breakout. Thin stock so trade accordingly
Thanks everyone! Let me know if you have any questions
Chris
Submitted April 28, 2015 at 09:51PM by ghostofgbt http://ift.tt/1HWORYx
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