Wednesday’s Trade

KEM – Bought this stock on the bounce (1min chart) after it’s gap up to ATH’s p/m. Failed to continue so I exited. A big red candle and the spread doubling meant I lost double what I planned. A harsh lesson to learn. Even worse as the other 3 stocks on my watchlist yesterday that I didn’t trade were all winners.

 

Today’s Trades

CORT – Biotech that hit ATH’s yesterday after earnings were released. Didn’t hold all it’s gains but closed green on the day and I’m going to watch this today as it held the b/o level. If it can grind higher today either with a weak open r/g or buying a HOD break, either way I’d be aiming for a test of yesterdays high.

DVAX – Gapped up on good earnings 3 days ago and even with red days it’s held the gap up really well. If this can move through the $17.20 gap up high I’d definitely be interested in going long and aiming for it to test the $20 p/m gap up from 3 days ago.

IPI – Fertilizer producer b/o due to good reaction to earnings. I’m looking for a weak open r/g move with a tight risk, something similar to risking 15 cents and aiming for this to touch 4 to make 45 cents. I need to focus on GOOD risk reward set ups!

GPRN – Brought to my attention via Turbobobs watchlist. Big green day and held its gains well into the close. I’d be most interested in trading this stock if it opens weak and grinds back to break $4.27 YHOD. Doesn’t have a history of huge moves so aiming for 20-30 cents on this stock would be a good win.

KEM – Lost on this stock yesterday as it gave back all it’s p/m gains. However it still broke ATH’s and so if it can climb back towards the $18 area I’ll be taking a look at it more closely. $18.20 new ATH break would get me very interested.