Recap of yesterday.. so in March and April I made a total of USD 1,800 dollars on IDXG and have created a stupid soft spot for the stock. Again yesterday I made another loss of USD 80 on the stock. I also tried to short SPEX and MBRX overnight and so far my account has not been blown yet. Almost though. My love for IB is immaculate.
Watchlist for today
SPEX - 2.20 v 2.42
High on a garbage acquisition of Hoth Therapeutics. I have no idea why this is up at all. Should've fallen already as one out of three acquisitions fail. It is a low float company with 4 million shares. So watch out. Only small positions!
UMC and MOSY
Both high on high volume. no active catalyst or anything. Will buy at previous day highs of 2.50 for both stocks, or I might not trade at all. No catalyst is always more pressure.
Ok, so I am messing up big time on SPEX. I did not expect this to blow so much. It cannot hold, it should not hold. 1 out of 3 acquisitions fail. So, if the trading gods allow me, I will try to short again EOD-ish if this is gapping and spiking again. Must be a huge drop at some point.
I wouldn't chase SPEX, it has proven to spike this week. But, I would avoid it as it has not news basis.
Its spiking on acquisition of Hoth. And low float. And absolute garbage. I am most definitely going to wait for a few cracks and short this, if there are no restrictions
I missed out on a huge opportunity, you were right. How did you know that news?
I use an IB broker and review if there is a catalyst via Tim' "PREPARE"checklist method?
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