The answer for me is simple, but effective. I narrow my watchlist down to 3 stocks, and when the market opens I watch the what I believe will be the quickest mover first and the slowest mover last. I used chart/price action history and float to make the determination.
1. $BTSC Bitcoin has moved from 7100 to 7500 so far this weekend. IF the uptrend continues I will watch $BTSC at the open because these plays tend to spike quickly at the open. I am choosing $BTSC because it has the healthiest recent uptrend of the bunch. I'm looking for a break of 0.07 to hold support and possibly test 0.08 in the first 10-20 minutes. If bitcoin does not continue it's uptrend, I will NOT be watching this one.
2. $CERS Earnings winner, high float but heavily shorted (11.6M short, only 3.7M shares traded Friday) and room to run on the daily chart. This one will likely play out 15-30 min after I'm done watching $BTCS. Looking for a dip buy at 3.25 or breakout that holds support at 3.60.
3. $PRELF OTC pump that panicked Friday afternoon and showed signs of weakness into the close. If the panic continues, it should be a slow bleed that will play out in 30 min to 2 hours. Looking to dip buy only a significant panic to the low 2's or high 1's.
Of course things will likely change premarket. If there is a low float earnings or contract winner, I will move it to the top of the list. A great way to prioritize on a day of multiple premarket winners is to choose the one with the best premarket volume and price action.
Funny, how when narrow down on 3 picks your anxiety goes away. Thanks, for the reminder!
So true! And when you rank them in order of volatility it's even easier!
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