I hope everyone is enjoying his or her night tonight. I’m sitting at home about to cook up a nice steak and pour myself a nice glass of wine! After itching to get back after a week off, I came out a little rusty and missed a few entries on MGT and CAS. I was trying to catch MGT on the dip at $1.30 and it couldn’t quite get there. When it started rebounding, I wanted to wait to see if it was going to actually keep going or if it was going to fail and start to crack back down to $1.30ish. It ended up running to $1.85 and I kept telling myself at $1.40 and $1.50 not to chase it…oh well. I also missed $0.90/share on CAS, which I said I thought could eventually get to $7 (which I still think I could). Had I had this as a swing trade in my head going into it, I probably would have tried to get in at $4.20ish after it dropped from $4.50. Instead, I was thinking day trade going into it when I CLEARLY SAID IT WOULD BE A SWING in my watch last night! It’s ok…I just gotta shake off that rust! I’m hoping to catch a nice trade tomorrow but I’m not going to force anything because I will be at the rooftop working for a Cubs game. I should be around in the morning though for the first couple hours so you can catch me on Twitter. Here’s what I’ll be watching tomorrow and good luck! Let’s HAMMER it home!!

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MGT – This just wont give up! I said yesterday I thought there would be several 20% swings today…I didn’t think there would be 2 handfuls of them! Crazy movement here today but I think it’s finally run it’s course. I wouldn’t be surprised to see this attempt $2 1 more time tomorrow but if it fails, I’ll certainly look to short this. I would love to see this retest $2 for an ideal short…if not, I’ll look to get in around $1.60ish. I will definitely be careful though as this can easily squeeze (it’s Friday) into the close if this holds up above $1.30ish.

 

CCXI – This didn’t quite hold up like MGT managed to but did find some support after a nasty drop in the morning and again around noon. It got stuck after rebounding at $4.20 and now it’s right back at intraday support in the high $3.80’s. If it can hold that support level and start ramping back up to $4.20 and then breakout, it could be in for a good long so I may consider buying if it holds support. If not, this should be a good short back down to the low 3’s. Ideally I would love to buy this at $3.90 and sell at $4.20, then short at $4.20 and ride it back down. We’ll see how that prediction plays out tomorrow.

 

CAS – Had I stuck to my plan in yesterdays watch list where I said I would consider swinging this, I probably would have made a good chunk of cash here. But I saw how big the spread was and didn’t really feel comfortable when I saw it moving $0.10-0.15 at a time. Nonetheless, I thought this could get to $7ish in the next few days and I still think that could happen. I don’t think I’ll be trading this now at this point since it’s at $5/share, which is a little high in my opinion now that my account it split into 2 accounts. It’s not worth it for me to only take 100 or 200 shares of something. It did have a hard time breaking out past $5 though so if it can show some strength with higher volume, I may consider taking 300 shares on a swing with the hope if it getting to $7…that would be worth it. We shall see how it’s acting in the morning and if we can get more volume.

 

TGD – This has been on my watch list since January when I was buying it at $0.1050 and selling at $0.13 thinking I was on top of the world. I did say that I though it could get up to $0.30ish (which it did a couple months later) and now they just reported earnings tonight which looked decent. I can see this retesting $0.45 resistance tomorrow if we can get good volume. If the sector would help at all it could be in for a nice day. Not my main watch but something to consider.

 

Also watching: AVXL, VLTC