Hey hey!
Another week winding down and we're still in crazy volatility mode on SPY. It is imperative in this environment that you trade stocks that have catalysts and LOTS of volume, I can't stress it enough. Patterns and technical analysis aren't as important as long as the stock has VOLUME but obviously if you have a good pattern PLUS volume PLUS a catalyst, that is ideal. I've had a good few days with NFLX, FSLR, PLNT, AIMT and others. I also have a couple swings which I started today. I stopped out on my first CAP swing from $14.20 at $13.59 but I'm back in now at $13.05 and think I found the bottom this time (famous last words, lol) so we'll see how that goes...I will add more once it starts to confirm a bounce and aim for a $14-14.50 target, maybe more. Also I mentioned this one a week or so ago, AQXP, but never bought it because I found out they had earnings today. I don't hold through earnings so I wanted to wait. Luckily I noticed someone mention the earnings on Twitter and caught their conference call so I grabbed a little bit at $1.97-1.98 after hours and am aiming for it to break $2.11 tomorrow and push to $2.50-2.75. This is a beaten stock and really the news wasn't that terrible: Their main drug missed its phase 2 primary endpoint but just BARELY, and all of the secondary endpoints were met. As they explained in the conference call, the data from the secondary endpoints shows that the drug is in fact working, they just needed a longer testing time to get statistically significant results. So I guess their goal now is to take the expanded data to the FDA and they are confident that the drug is still effective. Of course they are going to spin it and I am NOT investing in this or trading it for fundamental reasons, but I think the call was pretty optimistic and that will probably bring in a lot of buyers tomorrow whom I plan to sell to at $2.50+ ... tee hee! Aside from that I'm watching NYMX for a break of $2.55, PLNT for a break over $16, and have some stuff on the back burner like X and SONS which are flagging, SRPT pushing $35 and NVDA which beat earnings after hours.
Sorry I haven't been updating every night...I'm teaching a lot now and playing catch up since I fell behind when I moved, having no internet access for a freakin week and a half. Anyway updates really aren't required every night since mostly I'm just trading stuff that is in play and the watchlists often just end up getting trumped by something better in the morning.
Hope everyone had a nice week!
Chris
Submitted August 06, 2015 at 11:43PM by ghostofgbt http://ift.tt/1IpZGAw
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