Good evening everyone. I only found two potential plays for me tomorrow. There are more plays going on but these seem to be the one that match my needs best. My strategy scanners were doing much better today now that I’ve tweaked them so hopefully I can pick up on any big movers tomorrow if the play is right. I’ve noticed plays happening in the middle of the day when it is “supposed” to be dead. This is probably just people trying to trade on their lunch break but it is something to take note of and potentially take action on. I will continue watching for this to determine if I should be treating this time window differently from the rest of the midday.

 

Ended the day cash only again, kind of a bummer because I was really looking forward to making a good trade today but sometimes the best trade is no trade. TRCH would have been a pretty good midday play but I was squeezing in a nap there. I tried to take my nap early so that I could be back at the computer early but that turned out to be against me today. A later nap and I could have potentially seen this, although I don’t know if I would have been able to nap after taking a position. You can’t force the stock market to give you plays on your schedule so you have to always be prepared and that also means being available to trade. I can’t say that I’m mad because I have work tonight and will probably try to get another small nap in if possible. I feel like I did pretty well today despite the lack of action.

 

3 Day Trades Available

 

CDTI- Low float of 17M spiking on news of their debt being converted into equity, common stock shares at the price of .32 each. It broke out of .40 today and continued to uptrend in stair stepper fashion into the close. There should be resistance at the multi-month level of .50 but after that should be clear until .75. The volume did pop today but  not its highest and this stock has a tendency to do well on the day after a spike so there is potential here although the catalyst could be better. This had the most action between 12-1 and during power hour with the morning being very illiquid.

 

This held support at .45 before it too cracked in the morning. Yesterday was a downer day in the markets and today is starting the same way. As long as this holds .40 it could still be  playable although I will be waiting until later. It did hold support for the day but never got any volume. I don’t think there will be much of a play here for me as I do not see it continuing.

 

EBIO- Low float biotech with a history of spiking for 2 days is up on no news and closed above multi-month support at 2.15. Should it hold support it is very likely to have enough potential to reach 2.60-2.70 and even go beyond that if it had a catalyst. The volume has higher than normal but not even half of what it is during a spike so there is a good chance this will run in the morning. I shouldn’t be betting on this, at least not big, without a catalyst but I would say the odds are in favor of another green day.

 

We had some bid support but no volume at the open. It basically stalled out and then cracked. Now that the big bidders are gone I don’t have much hope for this until this afternoon. This actually continued to fade all day so I’m not interested in it anymore.

 

FORD- Spiking big in PM. Just got news of a 3 year supplier contract extension with a current customer. Low float of 6M with 8.5% short and a ratio of 12. A few months ago this double topped at 1.80 and before that 1.95 seemed like resistance. If this breaks beyond that it could try to re-test $3. This dropped right out of the gate until finding support at 1.50. It never made a bounce nor did it show any volume after the failed spike. It could try to bounce tomorrow but I’m not feeling it.

 

GDEE- Still trucking along now at 400% from where it started. Obviously can’t chase it but good to know that the promoter is “legit”. Hopefully my account is back over 2k before this crashes so I can take a short position in it.

 

MDRPF- An OTC Canadian gold breakout play. Has built up support on the bid at .80 with the next resistance at $1. It looks like it is trying to breakout and follow all the other plays that followed VGZ. The majority of those plays kept going and the daily volume is already on the high side by 10 am so it looks good to me despite the lack of a catalyst specific to this stock. Outstanding shares is 175M though I don’t know the float. The original breakout is from the mid.60’s but it seems like it will do it again if it can take care of the level 2 resistance at .81. On the 30min chart it looks like this has a tendency to spike sometime midday so I will be cautious to buy the breakout only if it looks like it has the volume to spike right then. About 10:20 this made a new day high and looked ready to breakout, but did so on lower volume despite the bid support on level 2. This makes me think that the buyers aren’t committed enough to follow through and could lead to a fakeout. I can’t find the stats on the shorts involved here but watching the sellers and seeing how the past 3 days have topped here leads me to believe that this is being shorted today which could help the pop, especially at the end of the day. This did have a midday pop that I missed during my nap. It found support at .84 with plenty of bidders on the level 2 but doesn’t have enough volume to dip buy this now, especially without a catalyst. This closed the day just a hair up from its support. It didn’t get any volume back before the close so although I think there is still a chance of a pop, I couldn’t play it myself.

 

TRCH- I saw this in my scanners but couldn’t find it in me to chase it. It was halted at 1.20 with the bid/ask in the 1.40’s. I saw some long term resistance in the 1.80’s so I wasn’t sure if I should play it. It’s a low float of 22M oil company on news that looks like their science project gave them the belief that they will find oil? I didn’t quite grasp the value of the news so I’m thinking it won’t go too far, and will probably crash if it does go anywhere. This was all over my scanners all day today. I was watching it again in the mid 1.10’s but I didn’t feel a need to chase it then. The best play for me would have been to dip buy when it held up at $1. It did finish the day nicely but like I said, I didn’t think this catalyst was very strong. This is another example of a good play with the best entry being midday.

 

TCPTF- Another OTC Canadian gold breakout trying to break .57-.58 all day after gapping up. The float seems to be over 200M so I’m not very thrilled about that. I don’t foresee this getting past the low .70’s  even though the volume has been building up the past couple days and is now pretty high, the volume is nothing compared to the float. It is too far from support so this is only a buy if it breaks out. It is currently in the process of being bought out which is supposedly going to strengthen the parent company’s financial strength. This failed to breakout and with news of the buyout I’m not really interested in playing games here. I don’t know what will happen to the stock price once the transaction is made so I’m separating this play a little from the other gold plays.