Longs for today May 23, 2016

$WRES spiked from .08, its yearly low to .13. If i get into WRES today it will be just a small play looking to buy at about .10-.11 and sell at .12-.13. A big position size here is key.

$VKTX Viking Therapeutics has been  up-trending all of last week on news of successful studies. Up nearly 10% in the pre market so i will certainly be looking to buy on a pullback today and join the ride. Their financials came out on May 10 and don't look too bad for a small company. I'll definitely be keeping my eye out for this one today and even in the next few weeks/months.

$ARRY Not just a day trade here but a stock I'll be looking to keep for a few weeks/months. They're to report info on their clinical stage cancer drugs at the ASCO meeting in Chicago June 3-7. Not a very highly looked after stock, yet, so an increased volume and PR attention could make this a great day trade possibility.

 

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Recap:

 

My only play today was $WRES and for a small account size I faired well. Not a huge profit but hey at least I was in the green. The stock did not dip today...Noticing the trend, I swooped in at an avg cost of .1158 with a position of 4000 shares. I knew that I would be unable to trade after 1 o'clock so I set my sell limit at .125 to ensure I came out of the trade on top. Can never go broke by taking a profit...However, had I held the whole day I would've seen the stock hit .15 a share. I don't think I'll trade $WRES again but I won't count it out ... especially after seeing some new attention today with 3.9M in volume. It'll be on my radar to watch tomorrow. 

$VKTX Viking therapeutics...Did not see a huge pullback after opening up at 1.34 which would have ben low enough for me to buy had it been number one on my priority list. But for everyone who had it as their number one's peeped some benefits of a quick run up to 1.57 until the stock drifted downwards the rest of the day. Like i said above-i wasn't just looking to day trade this company but also have an eye out for it in the longer run.

 

$ARRY Really didn't do much...Went up and down but ultimately ended 1 percentage in the red. Had a morning spike from 3.31 to 3.37. But like I said previously...This stock is of my interest in more of a long term position rather than a day trade. I've began to buy a few shares each day working to avg down my cost...We'll see what the price is after the ASCO meeting June 3-7.

 

I usually just focus on day trades in the eyes of short term traders .... however today was just a unique day that happened to be my first blog post. I will not be trading tomorrow due to some life conflicts (trading is not my full time job).