Happy July!
June is over and we are into the second half of 2015! The last couple days have been very volatile but I managed to trade them well. On Monday per my plan I stuck to only trading XIV and VXX, back and forth throughout the day for small scalps that ultimately added up to a nice day. Today I took three trades, BLRX long at $2.60 and out at $2.7140, SGYP long at $8.22 and out at $8.36, and MCRB which I actually traded three times and the first two were losses but finally nailed it on the last one, from $40.00 to $40.90 and $40.60. Ultimately MCRB just ended up being a commission burner as I was flat overall on the trade but it felt good to get it right on the third try! As far as the Greece situation goes nothing has changed really so we're just playing to volatility game until there is some certainty (hopefully) after this weekend as the Greeks hold their referendum. Until then I will be just taking it day by day and being very reactive on my trades rather than trying to anticipate everything.
The main trades I have on my list tomorrow are ACRX (long over $4.30 area), SGYP (long for $8.39 breakout) and CTRV (long for $5.15 breakout. I like ACRX the best and will likely try to jump on it first thing in the morning for a quick push to $4.40 - $4.50 with a stop under $4.20, but anything can happen in this market so we'll have to see if it gaps up/down/whatever. CTRV I likely won't trade because it's so thin BUT if it does give a tight entry (less than 5-10 cents risk) I will take it. Not going to play this game where it can wick 15-20 cents up and down in a candle even though I will be sad I missed it when it inevitably breaks out...it's better to be safe on stuff like this one. On the back burner I still have the obvious XIV/VXX combo for scalping market volatility, FIT and MCRB as IPOs that have been performing very nicely, and FREE for a possible red to green move off today's 13G filing. On top of those, in the next few days I expect GERN, ZIOP and ARNA to continue up and tomorrow CLNE could be a nice bounce as it meets my parabolic short criteria and has been trying to base intraday.
I hope everyone had a great day and made some moolah! Let me know if you have any questions!
Chris
Submitted June 30, 2015 at 10:17PM by ghostofgbt http://ift.tt/1ehXwbl
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