DAY 3 of my 2 week Commitment to Profitly. To start today's watch I'm revisiting the past few days scans and reviewing how my predictions turned out.
MITK. I seriously need to quit my job. I wrote yesterday that I had alerts set at 10.00 and 10.55 for a dip buy and anticipating a breakout. It didn't hit 10.00 but it went down to 10.15 which would have been a perfect low risk entry, and then it broke out like I speculated it would. It's holding it's breakout level, it beat earnings for 3 of the last 4 reports. It looks good but I still wouldn't want a position into earnings tomorrow. I expect a dip or post earnings drift upwards. It might be a good sing over the weekend. We'll have to wait and see.
ABEO- Basing near the low of its recent gap up. I think it's gonna crack. Watch volume to confirm the move whether it's bullish or bearish. The volume was relatively low on the pullback. It can crack or hold support and run up, but that's just being hopeful. Shorts could get a nice entry near 8.50 or 8.45. to fill the gap and see if it can break below 8.36.
AVEO- Holding a good portion of its recent move. According to the headlines, it reports earnings next week. We'll see if it's really strong. Worth keeping on radar.
CFMS- Held multimonth support pretty nicely today, at 5.36 and had 20-30 cents of upside. Earnings are coming soon. I'll play the reaction.
SRCI- Shaping up to be a multi day breakout exactly like the ones from Tim G's dvd, "trading tickers." I thought this one might continue and now it looks like it will. You can never be too sure though. Watch the Level 2, and volume at today's low of 8.18 and yesterday's high of 8.39. I think it'll breakout again. It's not too overextended and it's uptrend looks strong.
SVU- Held decently above support after failing to break it's 3.73 breakout level. Had 20 cents of range today. This one also looks just like Tim G's multiday breakout pattern forming, and had lower volume from the bears during today's consolidation. Low volume on pullbacks shows that the move is due to reverse. This could really breakout some time this week. Earning were missed, but sales topped expectations.... whatever that means. The reaction looks good though on earnings.
These next few stocks are from today's scan.
TMQ- Sometimes earnings is the perfect swing trade catalyst. This chart looks like it's due for some consolidation though. It's been grinding up a little each day and today it finally popped up on my scan after it's 14 cent move. I think a dip to one dollar one be ideal just for psychological reasons, but it closed at it's highs pretty strongly. I think it's keep running for a few more days.
CGI- This was the momentum trade of the day. Consolidated above it's breakout level for mulitple days and had a huge 1 dollar gain today even though they're alleged frauds. This looks exactly like a gap and go play from Ross Cameron's book "How To Day Trade". This stock can serve as a reminder to anybody who doesn't watch percent gainers over multiple days. Look at that chart, it's perfect.
CERC- Spike, fail, spike, fail, spike, fail. I think I see a pattern here. Good short opportunity on any worthwhile spikes, but I wouldn't worry about it for now. Not even worth keeping on radar.
NSRPF- This looks like it's up based on purely technical reasons, or it could just be a pump. It's getting pretty overextended. I guess it's worth watching to learn from.
That's all for today. I only spent about an hour and 40 minutes on this one. I think I'm getting more consistent mentally by being consistently committed.
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