What’s up everyone? I hope everyone is having a great night so far. I just got back from Ubering and made roughly $70 tonight in 3 hours, which puts me at negative $80 for the day. Considering I took a massive loss in MGT, I’ll take -$80 all day all things considered. I hedged my short with a nice $250 win making $0.50/share on the squeeze up to $3.25. Had I not done that I would’ve had a really bad day today. I was forced to cover my short and have my Etrade account restricted to cash only transactions, so I’ll be taking that money out and either putting it into my TD account, or I’ll be opening up another account with a new broker (suggestions welcome) that ideally has good borrows because TD sucks when it comes to finding shares to short. This market has been en fuego as of late and there are sooo many opportunities to make money so I’m not going to get discouraged by a few bad losses. I only have 1 day trade left until Friday however so I’m going to try and be very selective with that. I’m definitely going to look to swing something over the next few days if the right opportunity presents itself. Here’s what I’ll be watching tomorrow and I’ll see you all on Twitter. Have a great rest of your night and DREAM BIG!

 

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MGT – For the simple fact that I got crushed here today, I’ll probably stay away because who knows what this thing will do. Every time is looks like it’s a good short, it’s traps them all and burns them for a 50%+ move lol. I am still short biased here but I’m now going to wait until the first red day because this is truly a “unicorn” and by that I mean it is NOT behaving the way it should. My short entry at $2.20 was perfect considering there was intraday resistance there and multi-year resistance at that level in addition to it already spiking all the way from $0.50 last week. Nonetheless, this thing broke out and went full-blown supernova. After hitting $3, it did drop back down to the $3.70’s but managed to hold up nicely and close in the $3’s in AH. I’m most likely done here like I mentioned but we’ll see how it moving in PM and at the open.

 

EBIO – Tim actually had a great video explaining this HERE. He dip bought this at $1.11 as it was breaking out above todays intraday resistance. It ended up breaking out above multi day resistance towards the close, which was beautiful. And as he mentions in the video, every time it has a big green candle the past few weeks, it has run the second day before coming back down. This would no doubt be a day trade for me as you’ll probably have to be quick here in the morning. I don’t think this will dip in the morning like we saw in MGT the past few days. You’ll have to be quick because it will probably drop quickly after the spike.

 

NETE – This was up big in AH and broke out past multi-month resistance. If it can continue to breakout above $0.50 tomorrow on the news, it can really run. Ideally I’d like to see if I could get this at $0.40 on a dip or even $0.37 if it gets there. I’ll be up early tomorrow to see how it’s moving in PM. If it fails to really breakout, it could come crashing back down to the $0.30’s

 

 

 

Secondary Watch: AVXL, VLTC, GSAT, APHD, DDAY