Hi all!
Sick day today as basically everything from my list worked perfectly. I took CMCM, PNX, CALM and NYMX all for gains though CCIH didn’t really do anything so I left it alone. PNX was an absolute beast bouncing over 25% and CALM and CMCM were both really nice too. I sold half NYMX from $1.60 entry at $1.68 but it didn’t follow through so I sold the rest for a loss and the trade ended up being just about flat overall, but other than that everything was awesome! My list is a bit scarce tonight but I did find a few gems which still haven’t popped yet so here they are:
GLUU (short):
Watching the $6.50 level for a breakdown to short. I’d like to see a quick bounce in the morning to $6.60-6.65 to start short and add on the $6.50 break, all with risk over $6.70 or so. It’s nice since this is very low risk but it’s also kind of a grinder stock so unless it gets some volume it may take all day to materialize into anything. I think maybe a $6.20 target is reasonable.
CSLT (long):
This company released earnings on 5/6 after hours which seemed to have a nice reaction the next day so this feels like follow through momentum from that. I’ll be watching for a weak open/pullback to $8-8.10 to get long and take it for a red to green to $8.60-8.75. Stop will be $7.85-7.90.
FMSA (long):
Another I like for a weak open and red to green move. In this case I want to see a pullback toward the 50ema on the 5 min chart at $8.80-8.90 to enter long, with a stop loss under $8.70 and a target of $9.85-10.00.
I’m not terribly excited about any of these but depending on how the market opens and what else looks good in the morning they may provide some opportunities. Remember you don’t have to trade just to trade. Trade to make money. If the opportunity isn’t there it isn’t there…no big deal, it will be there tomorrow. Here are a few other ideas for the back burner:
PNX, CMCM (long) – Possible red to green moves
PTBI (long) – On watch strictly for day trades
GMAN (short) – Still watching $7.20 level for short breakdown
IPCI (long) – Still watching for $3.15 breakout
AAWW (short) – Stock is holding up but I still think it needs a pullback so if we get a market selloff this will be one of the first to go
TCPI (long) – Still stalking for $4.00 breakout
NKTR (long) – Watching $11.50 area for possible breakout soon
ESI (long) – Interesting in buying washouts under $2.00 for a bounce. Stock has lost 60-70% of its value in just a few days
WIN (long) – Another bounce idea if it can hold and/or set up around $8.50
ATRA (long) – Similar to PNX but not down nearly as much so it won’t be as powerful. Watching over $40 for a bounce to $44-45
Hope everyone had a nice day!
Chris
Submitted May 12, 2015 at 10:46PM by ghostofgbt http://ift.tt/1zZgbmt
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