Hi all,
Another simple day with just a couple trades for me. Per my plan I tried ACRX at $3.62 this morning but it couldn't take out the high from yesterday so I bailed on it at $3.63 after the second HOD failure. I may give it one more try tomorrow but the reward to risk is diminishing at this point so I may just leave it alone. Will keep it on the back burner for now. My only other trade today was a starter buy on TCPI at $4.05 which I held overnight. I really wanted to add more in the $3.90s but it took off and never looked back. If it pulls back tomorrow morning I may try to add some more but it will most likely gap up or just open flat and run immediately. There were some sick runners that I didn't trade like CONN, CDTI, GEVO, and also CEMP and HLF from my backup list perked up a bit. While there seem to be some crazy movers pretty much every day they aren't really my style to trade at the moment so I am staying pretty conservative on them if I do trade them. Anyway overall a good day and I think I finally nailed TCPI (this is the 4th time I have bought it in this consolidation...the first three were flat or small wins as it never really followed through til now). Time will tell! Here is my only plan for tomorrow:
DAR (long):
Beautiful bull flag on the daily chart. I almost grabbed this on the $15.80 break intraday today but it was right around noon so I decided to pass since I'm trying to stay away from trading the lunch hour when the stocks I tend to trade usually start acting a little wonky. Anyway, luckily it held under $16 so I think we will get another shot tomorrow. I'm hoping for a little gap down and then a red to green move through $16. Ideal entry is $15.80-15.85 but I'm ok chasing it a bit also. If it spikes immediately I will wait to see if it develops a trend above $16 and look to buy all dips.
Here are some updates on my backup list and a couple new ideas:
HLF (long) - Nice push today over $53. I haven't really seen a solid setup but it seems to just be running between round numbers...$52.50, $53, $53.50 etc. Watch to see if it holds $53 for a long
OTEX (short) - Still holding that $42.20 area. Seems like pops toward $42.60-80 are safe to short if you want to anticipate the crack
LLY (short) - Broke down a bit today but has room to fall still. Just watching for any late day fades 3pm+
ESI (short) - Cracked today but still plenty of room to fall. All pops are shortable now IMO
REN (long) - Still holding $1.15 area and looking for that bounce to $1.40-1.50
FLWS (short) - Same plan: $9.50 is a key level. Watching to short pops if it cracks it and holds or anticipate with entry $9.80-10.00 and swing it
SINA (short) - Still watching for a late day fade. It was getting a bit weak today
ARO (long) - Started a bounce today so off my list due to violation of my 7 days down rule, however it definitely can keep bouncing. May need to adjust this rule to 6 days eventually but just keeping this on watch for now
HRTX, RXDX (short) - Same plan as SINA above. Just watching for weakness later in the day as these types tend to have a morning rush and then fizzle due to profit taking and eventually panic
ACRX (long) - Still watching the $3.70 level for one more push to $4
CZR (long) - Parabolic bounce candidate if it can hold $7.30-7.40 area
LL (long) - $22.30 area is big for a possible gap fill
Hope everyone had a nice day!
Chris
Submitted June 02, 2015 at 09:52PM by ghostofgbt http://ift.tt/1Ib5aP2
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