Back to back great days for me as I called OGXI perfectly in my watch list this morning and nailed the perfect entry at $1.15 this morning before hitting a high of $1.42. I did realize after I bought this that I don’t have a day trade until tomorrow so I did get stuck here but it ended up playing out beautifully into the close. I also covered my short position in RPRX from last Wednesday for a $250 win before commissions. Now it’s time for me to head over to the rooftop for a night game. I’ll have my watch list posted later tonight so stay tuned. The rest of my watch list played out nicely as well today. Here’s how it looked and thanks for reading!
https://www.instagram.com/hammertimetrading/
https://twitter.com/HammerTTrading
http://profit.ly/guru/timothysykes?aff=6394
http://profit.ly/store/info/169?aff=6394
http://profit.ly/store/info/161?aff=6394
#Hammertime
RPRX – This dropped 9%, which was beautiful considering there wasn’t much volume at all. There is some support at $2.51ish and then some more at $2.45ish and after that, look out below. I fully expect this to gap down and sell off into a panic where I’ll look to cover in the low $2’s. Right now I’m up roughly $180 and would love to make an additional $180 or so tomorrow or Wednesday, which I don’t see out of the question. So this did gap down a little this morning and after a failed attempt of a bounce, this faded all day into the close. In power hour however, this ended up ramping up a little off it’s lows which lead me to believe that this could possibly squeeze a little into the close and into tomorrow morning which is why I covered. I’m locking in profits here even though I think this can continue to drop sub $2 because of that little spike and the fact that I was already up $0.50/share. Great win and great patience for me. I said that I would be more patient because of my lack of patience on UNXL and it sure paid off nicely here.
EBIO – I had a feeling this was going to drop today, I just didn’t know how much it would drop. After a failed bounce in the morning, this faded all day and then managed to find some support in the low $1’s. If this fails to really crack that support at $1ish, I may look to buy this into a short possible short squeeze. This can drop though another $0.25-$0.50 so I would definitely wait until it really shows signs of strength on level 2 and when big bidders show up, that may be a good time for a dip buy. This should be in play tomorrow morning for sure. After a failed morning spike to $1.10, this dropped quickly below $0.90 before rebounding a little in power hour where it closed just above $1. There was some support at the $1 yesterday towards the close so I would be careful if you are short here. This could definitely squeeze for a day before the inevitable.
NEOT – Here’s one I called beautifully on my video lesson yesterday as it broke out above $1.20 in PM and spiked in the morning. I missed this because I was busy taking profits in CBYL this morning and liked the way TLOG was holding up better, which is why I didn’t buy this. This is up a little in after hours but I still don’t see a catalyst for this move. If it can hold above $1.25 in the morning, I can see this popping again…however I think this is going to be a better short if it can double top at $1.40. As I said, this was a beautiful short here as it tanked out of the gate dropping to $1.05ish. It did manage to find some intraday support there and bounce off that level several times throughout the day. However it also couldn’t quite breakout above $1.10ish so I would say this is in for another ride back down to under $1 tomorrow.
TLOG – I nailed this one off my watch list and called it perfectly in my video lesson yesterday. Like NEOT, I missed the initial spike in the morning because I was focused on CBYL and RPRX. I did watch this and when I saw it fail the second time to breakout, it dropped but made a higher low at $0.40. I tried to get in there but only a few shares got executed at that price before popping a little. I ended up getting in at $0.41 right before it broke out and ran to $0.60. I took profits at $0.52 making 27% in roughly 45 minutes. I had a plan going into the trade (all on twitter) and decided to get out when I hit my target I thought it could hit $0.60 but I was happy taking 25%+. It couldn’t quite hold $0.60 however and ended up dropping big into the close back to $0.49. This is a perfect example of why you take profits and not hope this is going to the moon every time. Like I said last night, THIS IS WHY YOU TAKE PROFITS! This pretty much lost all it’s gains from yesterday. I pretty much took this off my watch this morning when it failed to do anything at $0.50 and then it dropped pretty much straight down to $0.35. No play for me now since there are much better opportunities out there right now.
MCUR – This was another big runner today that I didn’t trade since I used my day trade on TLOG today. I would’ve loved shorting this here at $2 where it got slammed back down after being up roughly 90% on the day and then closing just under 40%. This did bounce several times at $1.50ish so I’m curious to see if that holds tomorrow morning or if it cracks support and heads back down to $1. I would be careful looking to short this though because it can definitely squeeze up to $3 as it’s proven it can in the past. I hope some of you made some money shorting this this morning or last night. This gapped down and then faded to the low $1’s before closing at $1.37. I still think this has some more room to go down so I would watch for any spikes tomorrow morning to possibly short into. I would use $1.45ish as my risk if I got in at $1.40 short. Easily $0.15+ of downside from there.
OGXI – This broke out past multi-month resistance this morning and managed to find some support at $1 before making a second leg close to $1.20. It closed near it’s highs and looks like it’s flagging nicely for a possible gap up and run. There is some resistance in the $1.25 range so if it can breakout above there, I can see it really running for a 4th straight day. Watch for any dip buys if possible and make sure the volume is heavier than today realistically. This was gapping up a little in PM on decent volume and I was watching it closely. I put my limit price of $1.15 right at the open and I got executed before it ran up to $1.38. I almost tried to sell at $1.35 but realized I didn’t have anymore day trades left (thank god) so I got stuck in this as I watched almost all my gains disappear as it dropped heavily from the morning spike. I was comfortable with my position though considering I got in at such a great price. This slowly climbed back up and pulled back several times before breaking out and touching $1.42 for the high of the day. It closed $0.10 below that but this can really squeeze tomorrow morning, especially if it gaps up above $1.42. There could be a lot of shorts trapped from several points today that can force this thing to really squeeze so let’s see how it reacts PM tomorrow. I’m up roughly $100 on my position right now.
LPTN – Not my main watch here but if this can stay above $0.32, it can really run $0.15 or so tomorrow which would be a monster. It really needs to pick up on volume and hold above $0.32 to really consider buying this. If it can hold $0.28 support, I may look to dip buy there if it shows strength. Has the potential to be a monster but I’m not as confident about this as I am the rest of my watch list. This actually did run in the morning to $0.42 but hit a huge wall and got slammed back down hard to $0.33ish. It did find support there but closed right at that support, which make me nervous that if it gaps down tomorrow, it can be headed back to the low $0.20’s quickly. Definitely better volume than yesterday but I think this is headed downhill manana.