Friday’s Trade

LL – Bought a HOD break this morning just below $37. Bought right at the top! Should have been smarter as this is already up so much. Lesson learnt.

 

Today’s Trades

CARA – Biotech that (of course) loses money every quarter but does have the ability for $2+ moves and up on last weeks earnings release. So I’m looking for momentum to continue into today. Held the $16 b/o level well on Friday afternoon and bounced off $16.50 multiple times closing in the middle. If this can break $16.50 today then I’ll be going long and I don’t think $18 is an unreasonable target.

SPPI – Biotech that’s broken 52w highs and held its gains into Fridays close. Hovering right around $9/share I’d be most interested in a weak open r/g move. Analysts have this stock as a “strong buy” (not sure how much that affects things, I’m new to looking into analyst recommendations and how they affect prices). $9.50 target, I’d be willing to risk the $9.75 area.

WIFI – Telecom stock that’s at new ATH’s due to earnings. Similar plan to SPPI I’m looking for a weak open with a push r/g. It’s already up $4 from yesterday so I want to make sure this volume and volatility is going to continue before jumping in. I’d risk the high 18’s where it found a base on Friday afternoon and aim for 20+.

GPRO – Another earnings winner, but my least favourite of the bunch due to it losing some of its gains in the afternoon on Friday. However still up $1.50/share from the gap up and a push back over $10/share might convince me this can reach Fridays HOD at $10.38 with a risk on g/r at $9.85. Ideally I want to see good volume before I do anything.