Hmmm, slooooow day on the scans. Will use a lot of patience. And wait for more to set up. Nothing moving at the time I post this pre market either.
Today’s List: Full list from Yahoo Finance
Acorn International, Inc. (ATV) -NYSE
Big range will trade it if it pops but small size and only add to winner.
e-Future Information Technology Inc. (EFUT) -NasdaqCM
I’d try this long if it pulls back, but up big pre market so I probably won’t get an entry.
XBiotech, Inc. (XBIT) -NasdaqGS
Short pops to $14.00
Idera Pharmaceuticals, Inc. (IDRA) -NasdaqCM
Long in the $4.20’s
Anavex Life Sciences Corp. (AVXL) -NasdaqCM
Short pops in the $6.60’s
Weight Watchers International, Inc. (WTW) -NYSE
Watching for a big move up, this stock is beyond annoying. Even if I don’t profit, I just wish it would crack so I could quit thinking about it.
Kind of have my morning already set since I held three shitty setups overnight. All three are small position sizes though since I never really liked any of them. $IDRA and $ARRY, and probably 50/50 at best, the might drop they might squeeze me out. I’ll admit they were boredom trades yesterday afternoon. I did well in the morning and probably should have just packed it in during the afternoon. All afternoon the $SPY was trending back towards green so nothing short was going to crack. Something I need to work on is recognizing slow afternoons and learning to walk away.
Made decent money on this and had a nice cover into the mid morning drop, but then re-enterered when it looked weak and was thinking it would crack $4, it held and ground up a little late day. I’ll be looking to cover flat unless it trends consistently down.
Spiking a little premarket, but my position is small, I won’t add in pre but I’d be game to add into some weakness after open.
Same plan as IDRA, if it tracks sideways or grinds up, its not a good enough setup to waste all day watching it.
Nice strong move off the bottom, I’ll be looking for a top to set risk against, ideally some sort of gap up out of the gate to let me risk against HOD.
Traded this well yesterday, I entered in the early morning top and covered into the late morning crack. It ground back and I though about shorting mid afternoon. Bummed I didn’t, especially since the only reason I didn’t was because I said to myself “You have too many positions already” And all those positions are mediocre..
After that scary spike last night I covered for piddly profits this morning, I think its a poor cover, but I slept like shit waiting for it to open up at $5.
I’m back in at $4.15 for a swing, risk to $4.30 with a goal in the mid $3’s.
I’m willing to risk 15 cents to make 50.
Kind of an aggravating day yesterday, shorted $ARRY and $IDRA late day, both pretty mediocre setups. $ARRY, could fade, but I should have covered $IDRA into the last minute spike. I went into both of these with the swing mindset and swing size, but that being said probably should have just skipped them. I did short a VERY solid setup $FRAN, yesterday, but was dicking around with $IDRA and $ARRY so I covered for puny gains, then it cracked late day. I say it all the time, but I need to focus on fewer setups and be patient for them to come to me, if they don’t so be it.
Pulling back from its aftermarket highs, I should have known something was up what it ran that hard into the close. I chose to hold and there was a PR after hours. By the time I saw it, it had calmed down and quit spiking so I held. I will look to add if it doesnt spike out of the gate. If it gets going again I’ll cover for the loss.
Looks pretty tired and it did show up on my “red candle floater” scan, I’m basically flat in it right now, not sure if it will be volatile today. So again its a swing, I’ll cover into any washes.
Skipped this yesterday, was a decent fade after a couple tops in the morning. I’ll look to short if it runs to $9, otherwise will probably just ignore.
Probably no play here, I’m just watching because I botched it yesterday.
Hopefully a parabolic out of the gate to set risk against, then I’ll short with HOD as risk.
Looking for a gap up and fade.
Shorted $IDRA @ $4.20, 1/4 position. I’ll add if it spikes hard, but would prefer to stay small and add to weakness tomorrow.
If it cracks $4 today I will cover.
Amazing the profit potential of penny stocks!! In what other industry can you completely fuck everything up and still make money?!?! I traded $VSR soooo poorly yesterday and left soooo much money on the table I should be kicked in the head. BUT!! I still made decent money, amazing..
I should just cut and paste the plan each day, same thing today though it is starting to evolve. A lot of these Ebola plays are finally starting to come back to reality. Bummer is I don’t like shorting on Fridays plus the potential for crazy news over the weekend is super high so NO WAY will I hold overnight. Some of the Ebola junk is up pre market but nothing crazy at this point. My plan will be to short into parabolic moves only, if they just grind up I’ll stay away and wait till Monday. May try some oil and gas longs if they look good. I also need to leave at noon so could end up being a slow day for me.
No trades for me yesterday, busy dealing with frozen pipes in one of the rental houses I own. Looks like I missed out on a lot of good setups, but oh well sometimes life gets in the way.
Running behind, no charts today.
Full list from Yahoo Finance
Ok day yesterday, +$460, but chose to pass up a bunch of trades. In the end this was a good thing, after my daily review of my trading journal I think every ticker but $LIVE would have been a loss had I traded them.
Full list from Yahoo Finance