$ETRM was the biggest spiker from today. it went from the low 2's to 4.90'is, sideways price action/fading mid range through out the rest of the day with cracking the morning spike lows at 3.8 at around 2 pm EST. it went down to the 3.3's but bounced back to the high 3's and went after-hours near its day highs. but i think this big bounce was created by a short squeeze and how it faded from its highs shows me that it is weak stock. very bearish and cracking 3.60 in the afternoon only proofs that. the longterm chart also tells us that that kind of price action was predictable. only reason why i wouldn't be aggressive shorting this kind of play and chart setup (which i normally would be aggressive on) is the january effect and the shitty longterm chart also underlines that the spike was mainly caused because of this 'seasonal event'. and recently these junky stocks tend to run two days. so i will look to short it but i definitely won't be first since a lot of catalysts are not favoring shorting right now. i would love to see a morning spike to short into. but i also would not be surprised to see this panicking (which i think is going to be the least likely option) or having another big green day. patience required for this one.
$PRAN bad longterm chart and it seems like there are no news (according to yahoo finance). 3m-chart is a clear downtrend and now it spiked. nice chart to to short into but again: january effect and junk recently tends to run for 2 day. but i honestly doubt this one is going to spike tomorrow. intraday it closed midrange too // did not close strong. nice short but the two reasons scare too much to be aggressive.
ask me anything you want and even better if you think i have done something wrong. right now i am preparing for the market open i will answer your question later
i have big weakness when it comes to news and my only source is yahoo finance and there were only old news. how old are the news you just talked about ? and i considered the january effect read through my watchlist again and i said ''i 'think' this spike was caused by a short squeeze''
but thank you for leaving a comment. i am even more open for critical questions or corrections because those are the things you can really learn from
No prob, the news came out round 7am on the 5th. I use to use yahoo for news but realized the same thing. Think or swim news updates in secs.. Idk where else to find news though. other than that I get what you was saying. thx
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