Re-Cap for 7.17.017

By Madbash

 

PIXY This Recent IPO has had some decent volatility, but has really hit a ceiling in the 10.50 area.  I had a perfect buy set @ 9.93 that could have generated nearly 70 cents of upside.  I will watch for a break of 10.50 or possibly a dip buy on a serious panic down to the low 9z  This had a bad day being down almost 10% at one point.  I honestly didn’t look at it once.

 

AVEO This zombie ticker has really held up after its break up to the 3.00 area.  I have had a series of mostly failed shorts and Friday was the day it finally had a nice breakdown.   I would consider a short if we can get one more squeeze, but I am concerned with the high level of ownership buy institutions.  There could also be a good dip buy opportunity if this can panic down to the 2.00 support. This found support in the low 2.40z  People are buying while using this area of former resistance as support.  I don’t really trust it right now, but tomorrow we should have an idea if a “bottom” is in… for a little while.

 

DRYS This notorious shipping company has been was of the biggest toxic financiers of the year.  Haphazard investors have lost over 99% as their share count has been sliced and dice.  The float is no longer low, but this could find some traction once the dilution stops.  I doubt I could ever go long this junker, but I currently have 100 shares short from 1.07  I may add short if this can muster some strength, but this ticker is beginning  to get into dangerous territory for shorts… if dilution ever stops. I covered my shares for a 14 dollar gain, but had a nice percentage win.   I was going for 10x the shares originally, but probably better as this ticker has a lot of “gamble”

 

ZN This oil and gas play is almost 50% off it’s highs.  This could be a decent overnight if we can test resistance in the 4.20’s and have a nice green day after the last week of red days.  This has some volatility but the commodity aspect reduces the likelihood that I will play this ticker drastically. This had a good opening with a break through 4.20  It did not close strong, and I lost interest because I don’t like considering what $OIL is doing.

 

ZPAS This pump is basically dead, but there have been some short opportunities.  The volume is dying,  but this could have another push into the .90z  It seems more likely the borrow count will dry up and this will wither away.  I may re-short if this can get some volume & price action. This junker found bottom it seems.  This really does not deserve much attention considering it’s volume.

 

ANY, BONT, YUMA  These volatile tickers have all had interesting price action.  The trouble is that they all look like shorts but are risky, and don’t have easy borrows.  I am watching for more volatility, but will likely take better risk/reward tickers more seriously. Fail, Fail, and a little bounce.  I really did not look at these throughout the day.  Far from worthy.

 

I have 3 Day trades available from IB, and I am a PDT @ Etrade for about another month.  I really want to find a good overnight hold each day to better emulate Tim’s proven strategy.  There is nothing quite like selling for nice profits to over-eager p/m buyers!  I used a day trade today going long 1100 $SGNX @ 2.76  Sold around 2.88ish for 119, I also closed out $DRYS for 14 I am short 700 $VSLR avg 5.13.  

 

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