Hey y'all!
Last week was kind of up and down for me, and ultimately just finished the whole week just above flat. I didn't trade much and was just holding my swings for most of the week which probably explains the flatness, since the market was kinda all over the place, opening at $209.60s on Monday and closing $210.01 on Friday...so really we didn't go anywhere, lol. I stopped out of SSYS on Friday and also stopped out of HK for a small loss in my Robinhood account but I'm still holding REN which is at a nice profit for me, and ENZN which is just chillin around breakeven for me. So all in all kinda a blowout week for me where I just ended up wasting a lot of time staring at my screen, haha, but what can you do...part of the game! Maybe this week will bring some better action.
I've got my eye on three main trades for next week right now:
AMDA (long):
I'm already in this from $0.3620 on Friday but only got filled on 1000 shares in Robinhood. I plan to buy a lot more if I can get .36 or .37, maybe 10-20k shares, but I dunno if it will allow me to get in. It's a nice liquid stock but this $0.40 level is huge for it so if it starts breaking through that I suspect it just shoots off like a rocket to $0.55 and the trade will be over. The reason it's on my list is just to put it on your radar, as if it gets some juice it will probably give some nice intraday trades. Just pay attention to the daily highs as you work backward on the chart. You'll see .41, .44, .47, etc and then we'll probably see a push up toward $0.55-60. Through that move there may be chances to scalp it and unlike most penny stocks this one is LIQUID which makes a huge difference since you can easily buy a 20-30k block if you have the buying power (and the guts! :))
IBIO (long):
IBIO had a really nice breakout over $0.96 on Friday which has been a significant level for it for a while now. It closed over $1 also which to me is very significant. I will be watching for any indication of strength to start in for a short swing trade. Keep in mind I spoke with a good trader I know tonight and he suggested being careful on any swing with size since the company only has about $8m in cash and could try to raise at any time. My ideal trade on this would be a pullback under $1.00 and then reclaim of $1 as my signal of strength.
NTLS (long):
This is a parabolic bounce setup like REN which worked awesome. This one isn't as clean since it's not down as much as REN was but it is approaching $5.00 which has been a huge inflection point for months now. I expect a quick flush toward/under $5.00 and then a setup intraday of higher lows to start long for a day trade. I don't expect a huge bounce in this but it should be relatively easy to capture 15-20 cents on it if it can bounce off that $5.00 area.
Hope everyone had an awesome weekend and let me know if ya have any questions!
Chris
Submitted June 14, 2015 at 11:24PM by ghostofgbt http://ift.tt/1GG8qTr
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