Watch List for 4.10.017
By Madbash
CLNTThis stock had an impressive 24 hours of action last week. I saw it ramping in the afterhours of Thursday, and I was watching it quite intently on Friday. The catalyst is not that great, but there were a few b/o opportunities as the volatility on this ticker is excellent. I would expect this to get stuffed in the low 8s if there is any kind of morning spike. I would not look to short unless it can test the 10 area again with weak volume. This kind of stock can drop 20% in a minute, so the only long plays should be breakouts of consolidation with a plan to sell quickly.
HGTMThis ticker is an example of volatility at its finest. It truly is anyone’s guess where this will go next. It would seem we are headed down for a bounce off of the 4.00 area, but there is a very explosive element to this stock. Pending another day of huge volume and volatility halts, this may make a good short into resistance @ 8.00.
ZENOThis ticker has a pump looking chart that is in parabolic territory. I have not found confirmation that this is being promoted. I would only expect one or two more green days, but this could push through 4 with enough volume. I will look for big panics in the 30%-%50 range to dip buy. A short on the first red day could work as well, but shares are in slim supply and pumps are rabid these days. See EMMD.
XXII There is not a lot of volatility in this stock’s chart. This ticker is struggling in the 1.30-1.35 area, and really looks primed for a drop. I would consider shorting into resistance in the 1.40-1.45 area if the volume is not too formidable. This is not a high caliber trade, so I will not let myself be distracted by this one too much.
LXU I missed my short entry in the 9.50 area. I may look to go long again if this can test the 7.00 support area. This is a swing/position type play that can tie up equity, but there is volatility and a fair amount of pattern reliability. No rush on this one, I will not just jump in to any reversal.
I took last week off from trading, but still observed as much as I could. Overtrading and not cutting losses has stymied my progress to a very frustrating degree. I plan to be patient this week and follow the strategies I have studied. Consistency is key, but will not be found without patience. Remember, trading is like golf - a simple game that is very difficult to master.
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question- When you guys say short the first red day, does that mean shorting mid day, but on the exact day that it is going red or does that mean the day after a red day
@robotcat2 Hey Colby. The first red day is defined by a stock closing below the previous days close. Often with these supernovas and pumps you may gap up, and have a red daily candle, but it is still technically "green" on the day. When an overextended stock finally has a red day you may want to be short anywhere you can, because the next down will often be down even further.
@robotcat2 Check out the $CYTX chart for an example. Mid February you had about a 5 day run-up where every day was "green" then there is that big red candle on the 16th. That was the first red day when the close was before the previous days close, any short position on that day could have been covered anytime the next month for a profit.
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