LPTH - accidental o/n short. I shorted this at 3:30 (8.25 entry, risk/stop 2.95 near day high) because I was going through my intraday gainers scan, this was up several days in a row on no news and was looking a bit overextended and I looked to me like I was catching the beginning of an afternoon fade. It did make a couple lower highs & lows, so I stayed in and wanted to give it as much time as i could in case it panicked into the close. It didn't, and I didn't mean to stay short o/n, but I learned the last couple minutes go by pretty quick if you miss your execution. Its up at bit right now (2.99 a/h on only two low vol trades), my plan is to wake up at 7am EST and keep an eye on this. If its going against me premarket I'll cover, but there's still no news as of now, so hopefully it gaps down a bit and I'll try to cover around 2.60 support
LEI - Michael you spoke about this one on thursday's webinar, but I can't completely recall what it was all about (they aren't an "operational" company and something about the number of wells). In any event, they acquired some assets, I missed the awesome run-up and there weren't any shares at IB (there still aren't) to short the lower highs at the beginning of the fade. Its not up that much now anyway from multi month resistance, so that plus no shares make it not that appealing. The only play might be a quick morning spike. Only keeping this off the "ignore" list because it was the biggest play the other day.
CMRX - the chart is so broken its tough to tell what might happen next. Its up $2/share past three days, only potential catalyst is the Cohen stake, but we don't know when he acquired the position, and its nowhere near any support or resistance other than past few days. Given that the only technical levels that matter are from past three days, this is short on crack of 8.65 or a buy on b/o above recent 9.75 high.
FXCM - still fading from highs. No new news. May bounce but support is about $3 away (6 month chart) so I think this continues to fade another day. Potential short on g/r, or if it gaps down then on crack of 15.75ish (dec 28 close)
URRE, INVT, VUZI - recent paid pumps. URRE is probably the best play right now of the three, its still up about 25% from pre pump levels, lots of shares at IB. Main drawback is the really low price, a decent position has 2.50 rule implications. INVT is down past couple days, entering strong support area. Unless it bounces pretty big there is no play here. Ignore. VUZI also near support (where 7.25 resistance became support two days ago), also needs a decent bounce or no play.
PER, SDR - these are both energy "related" plays, they hold royalty interests in oil/natural gas properties. Both b/o and closed above near term highs, but the breakouts weren't very big once they occurred. Limited range on these. I'm assuming these would be sympathy plays to LEI, but they were spiking while LEI was fading?
Ignore:
TLOG - no real news/catalyst, just some analyst coverage. Had a decent runup but faded back to midrange. Not close to any b/o, nor is there a catalyst, so no buy. Not up enough for short. Ignore.
LGCY, AMID, FELP, CRC, EVEP, MEMP, XCO, BXE, NRP - these are all energy plays, there's a lot of these on previou day's % gainers, all are relatively close to near term breakouts. None of these have any news/catalyst, so I don't think there's much predicatability. Perhaps if oil (watch USO?) isn't down and if LEI is running again, then there might be a play if one of these breaks out. Ignore unless LEI is running.
Posted Jan 03, 16 10:37 PMbydashing
Received 1 Karma
Thank you, I was wondering why there were so many plays that fit the stocks to trade tomorrow and all are close to break outs.
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