SPY is pulling back to the 10DSMA as is the DIA. The IWM has cracked the 20DSMA and is headed back to the top of the triangle which is also the 50DSMA so I would expect it to hold as support, otherwise would be a bearish sign. Gold is facing indecision at this level of support and only time will tell if it bounces or fails. Oil is still forming an ascending triangle but has yet to break out.

The markets are all sinking down at the open.

You can search for me on Twitter @freethinkingmen for regular updates if you like.

2 Day Trades until Tuesday

INFI-$3.06M last traded, rel vol .96, Biotech, 48.64M float, 6.33% short @ ratio 2.58, IO 1.1%, fresh PM news that they apparently presented data today in Paris not the same presentation taking place later today, news that they will present one of their cancer drugs on April 4^th, released date for earnings on the 28^th set for March 14^th, news on the 27^th that they will be presenting on the 6^th at 4pm. Currently at intraday support of 2.85 with intraday levels of $3 and $3.15ish on the way to 3.75. Volume on the daily chart is strong for the recent up days but significantly smaller on this pullback. With this fresh news and presentation later today I would expect another potential run-up.

Volume lacking in first few minutes of open, ended up failing.

 

GALT- $501K last traded, rel vol .60, Drugs, 20.65M float, 6.45% short @ ratio 2.72, IO 11.7%, PM news of one of their drugs having positive results and will be presenting data between the 20^th and 23^rd, earnings are due on the 14^th. This has broken the $2 resistance in PM action and reached 2.25 before pulling back. Ideally I would like to see this come back to 1.90 intraday level before breaking $2 again. With enough volume this has potential to hit 2.50’s.

Massive 275k seller at 1.90, ended up failing.

 

OWCP OTC- $6.1M traded so far, rel vol 1.34, Israeli Weed Biotech, 130M float, PM PR news that weed research remains strong despite Fed’s hesitation on recreational use. A break of 1.50 could lead to $2 provided the intraday resistance of 1.70 doesn’t hold it up. Volume has not been biased on the bullish side. Today has created an ascending triangle but volume seems to favor the short side. I think the safest play here would be to wait for a pull back if the break does occur and decide on entering there. CNBX seems to have found support and bounced today as well. The 15m 50SMA is also at 1.52ish so there should be added resistance but a break could be even stronger. This stock seems to run up in the mornings, it may be a better overnight play depending on the close. Saw a tweet that leads me to believe Sykes is in this stock, potentially dip bought at 1.40ish; also interesting that Sykes tweeted the article about him vs Wolf of Weed street this morning. Big 66K seller at 1.52 from NITE and keeps getting hidden when price drops. Getting some 10k block buyers at the 1.50 level. 23K seller at 1.50 from ETRF. Another 25k seller at 1.50 from NITE for a total of about 50k at that level. 15k Dip buy at 1.38. This seems to continue correlating with CNBX, I’m not sure which one is leading the dance. 43K buyer at 1.40 followed by 13k  same price and another 36k  for 93k+. 20k seller at 1.38 followed right after. 41k buyer at 1.39, all of these happening within minutes of each other.  Another 39.5k and 42.6k buyer at 1.39, looks like it may have been a seller selling into big L2 bids, immediately followed by another 37.9k buy same price. 44k L2 ask at 1.44 from NITE. Two buys at 1.44 of 21k and 35k. 10k seller into a 19k bid at 1.45. Sell or Buy at 1.41 of 29k after period of stagnation. In the beginning of powerhour we had a 16k and 27k seller at 1.40 trying to push this down. 10k buyers at 1.46 and 1.47 followed by a 25k sell at 1.43, Price is still growing. Took a long position when previous big asks were not apparent on L2 and bullish volume started flowing in at 1.50. 63k seller at 1.57 from NITE appeared 20m before the close, 10k and 18k bids taken out at 1.56. Buyers are still showing up, this looks good for an overnight hold although I will most likely sell half or all if this hits 1.70 before the close. 29k seller at 1.52 when price is 1.55, clearly a short is trying to force this down but price is still holding support. Another 26k seller at 1.51 finally got price to hit 1.49, buyers still filling in. 30k buyer/seller at 1.51 as price struggles to recover. Another 15k buy/sell at 1.51 which got price to move up a couple cents 10m before the close. 28k sell followed by 20k more at 1.51 and a 10k ask at 1.55 still not taken out. A 30k sell at 1.51 came in when price is 1.55, buyers keep bringing the price right back up. A couple 15k buys at 1.55 6min before close. This closed really well and my only mistake was buying the first break as opposed to buying the pull back as stated in my plan; my price was maybe only .02 higher than it could have been so I am grateful for not getting punished harshly.