Hi all!
Decent day today with a couple of nice trades from my list on GEVO and MBLY from a couple days ago. I didn't take GEVO as I was focusing on MBLY in the morning which I bought at $48.40 and sold at $49.28 and $48.98. I wanted to rebuy but it never really gave me a good opportunity. I took a small loss on GTXI from $1.31 to $1.24, and a small gain on YOKU short at $29.63 (added more at $29.56 and covered in the $29.40s). I planned to reshort YOKU on pops but my rule of minimal to no trading from 12pm-3pm kept me out of it, and for good reason as we can see that it squeezed into the close and got stuck bouncing around aimlessly between 12-3pm. It was nice to see some positive reinforcement of that rule. I also sold my SYMX swing at $1.51 from $1.40 a few days ago. It started to flop in the morning but then randomly spiked in the middle of the day back to $1.50 so I decided to take the gift there since it wasn't even supposed to be a swing in the first place. So I am out of that now. I'm still long HK, REN, ENZN and SSYS, which are still above my stop losses. For those wondering my stops are $1.15, $1.11, $1.23 and $34.99 respectively. Those may change depending on action but those are the general areas where I'd consider the setups to be broken. All in all a good day for day trading and a stable day for swings. Here's my plan for tomorrow:
CLF (long):
CLF has a nice bottoming pattern on the daily and trended nicely all day today. I'll be watching for morning weakness to buy into for a continuation up to $6 or so. I want to see the stock hold the $5.35-5.40 area for entry and the stop can be relatively tight, only 5-10 cents. Same plan as always...watch morning flush and then higher lows to play with risk against the low of the day.
CLDN (long):
Another beaten down name that was showing some nice strength today. Over $2.36 I could see this push toward $2.65 very quickly and if it gets over $3 we may see some fireworks as it has a huge gap to fill. I don't expect this all to happen tomorrow but it was hinting at a little strength today and closed strongly flagging under $2.25. I want to see it hold that same consolidation. I will get long on any sign of strength or if it decides it wants to flush down I will go in smaller after it makes higher lows and only add to it after it takes out $2.25-2.30 and develops a solid up trend. This stock is pretty beat down so it might still need more time, but the signs are starting to point upwards IMO.
As for back burner ideas I'll also be watching EDU for a continuation through $26.50 (r/g type move) and a pullback to $50 on MBLY to see if it can bounce off $50 and continue up toward $52-53. I have YOKU on the back burner for a short also even though it is clearly bull flagging. It could break to the upside but the bottom line is the whole reason for the recent push was that they announced they had an exclusive deal with Disney for their Marvel collection, and then 3 days later "clarified" the PR by saying that the deal was not exclusive...so to me that basically seems like a pump job. Seems nothing material has changed but I could be missing something. Anyway point is for me it seems like a short fundamentally, but it could still pop out of this flag based purely on technicals so I will be ready to play either direction. Lastly I am stalking MELA, DXM and AMDA for possible trades in my Robinhood account, and also eyeballing CYBR for a swing off this dip if HACK and SPY both stay strong.
Alright, that's it for tonight...hope everyone had fun today!
Chris
Submitted June 11, 2015 at 10:29PM by ghostofgbt http://ift.tt/1cPcOU9
No comments:
Post a Comment