SPY and DIA are ready to set for a nice uptrend after breaking out and confirming the breakout by testing it as support. They are now at all-time highs and look to be continuing the move. The IWM (Russell 2k) has broken out of its descending triangle today and should be looking to break its all-time high today. Gold has pulled back some but may hold support today. Oil has made it back towards the top of its range and has pulled back slightly so we will see what happens with that.

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

1 Day Trades until Tuesday

3/5 CRMD- $1.22M last traded, rel vol 2.38, Biotech, 38.75M float, 9.26% short @ ratio 16.67, 16.5 days to cover, IO .5%, no recent news since the 1^st of them adding two members to their senior leadership team. This has been up trending nicely since the beginning of the month with no large gains in a single day and measured consolidation on an intraday basis. I would like to get in on a break of 2.50 and aim for $3 but with no news I may want to see the breakout confirmed before getting in. This could be a swing up to 3 days.

3/5 CNBX- OTC- $659K last traded, rel vol 1.11, Weed Biotech, 19.98M float, news on the 6^th /7^th that they are initializing commercialization of their cannabinoid based anti-tumor tests for cancer patients. This pulled back and held support so if it can get back to, and break, 1.35 I would look for 1.75.

2/5 URRE-$2.66M last traded, rel vol .44, Industrial Metals & Minerals, 20.41M float, 11.66% short @ ratio .84, IO .10%, PM news on the 8th of them cancelling an emergency shareholder meeting due to lack of attendance but moving forward with paying 5.5M to close a debt. The SEC filing was posted confirming this AH on Friday. The profit window in its current range is too small for me. I would need to wait for a break of 2.50 at which point I would look for $3.

 

2/5 BCEI-$5.66M last traded, rel vol .54, Oil & Gas, 49.17M float, 19.14% short @ ratio 2.11, 2 days to cover, IO .3%, no recent news, earnings due on the 27^th, currently in chapter 11 BK. This would need to break 2.50, which is also the 20DSMA, convincingly in order for me to get in and go for $3. Daily volume isn’t increasing  yet so not sure if this will play out.