Wow this might be the worst selection on scan I’ve done in a looong time. There are all kinds of $15-20 bio’s with huge range, but those are not my kinds of plays at all. I’ll set targets on these on watch, but at this point (8AM) I have no real plan, will work on it into the open.
Watchlist yesterday nailed everything, of course its easy to be right as a short seller when the market cracks down hard and small cap bio’s get wrecked. Pretty slow and lean on the scans today. Just went through days worth of watchlists and EVERYTHING is beat down.
Up a little pre market, ideally runs a little for a short mid day.
Clean Coal Technologies, Inc. (CCTC) -Other OTC
Still grinding up, easy to get biased on a total POS like this, but I have no real way to set a stop at this point. Hoping it pops to squeeze out shorts and set a risk.
Target: I have an alert in the $1.20’s will ignore until that goes off. Then readjust.
Republic Airways Holdings Inc. (RJET) -NasdaqGS
Everybody hates this and loves shorting it. I interpret this news as pretty solid. I’m sure they will end up screwing it up long term, but right now, I see shorts getting squeezed and bagholders buying more based on this union deal.
Target: Look to get long. Around $5.50 stop on $5.00
Turtle Beach Corporation (HEAR) -NasdaqGM
Big name analyst upgrades and price targets. Smart play is probably to go long. But I just can’t believe in this one. On the flip side its not up enough to make it that interesting as a short.
Target: Basically just a watch to see if it can get crazy. Even if it does today I’ll probably ignore. Hoping to short the backside of a big parabolic. But I doubt it even does much, probably 20 cents one way or the other.
I like this list, going to ease into things today, took some time off end of last week to work on other projects. So the standard for me is to watch a lot early and look for late day fades. May trade pre market movers, but this list is basically all waiting for pops.
Typical Friday, going to widen my price targets and trade smaller. Only add to winners no scaling into a loser. I am adamant that I’m in cash over the weekend so I’m not going to get “trapped” in any losers.
Everybody wants this short, so it will squeeze. Odds are this ends up a “coulda woulda shoulda” for me. But I want low stress today.
Target: $5+ for a starter then cover for small loss, and only add to a winner, no losing adds.
Fitbit Inc. (FIT) -NYSE
Longterm this will be a killer short. Short term its jumpy and in the media all the time.
Target: $40.50 with a stop on $41.00
Intra-Cellular Therapies, Inc. (ITCI) -NasdaqGS
I still think this has room to run, plus its Friday and probably a bunch of shorts looking to cover. Highly doubt I’ll trade it today, more keeping it on watch as a reminder for next week.
Arrowhead Research Corp. (ARWR) -NasdaqGS
Short pops for a fade.
Target: $7.60’s with a stop on the high from a couple days ago.
Advaxis, Inc. (ADXS) -NasdaqCM
After botching this for a profit yesterday I’m just kind of curious. I’m too dumb to figure out fi the data is good or bad. My thought is it fades. But that chicanery yesterday is confusing to me.
Target: $20.25 stop on $20.50
Aerie Pharmaceuticals, Inc. (AERI) -NasdaqGM
I had a trade plan to short this at $31.90, (I have the notecard for proof!) which would have been a killer entry, but I was so locked on $ADXS, and new their presentation and the Fed were coming up at 2PM. So I just stayed out.
Target: Thinking this is entering “backside” territory. Will look to short pop’s, but again small. I’m not going to get stuck in it over the weekend. $31.00-$31.50
Considering the market seemed to be nonstop grind up yesterday I’m surprise by the lack of interesting setups on the “gainers scan”. Not a big fan of all these higher priced stocks to watch, there is hardly anything interesting in the $5-$15 range. After a frustrating day yesterday breaking my plans I am going to firmly stick with what I decide at 9:15AM. If that means I make no trades today so be it. But had I stuck with my plan yesterday instead of entering early I would have had a handsomely profitable day instead of a small loser: Yesterday’s plan for 9-16-2015