Trade Notes: $MOMO 2-24-2016

$MOMO this was the most boring day I can remember in years… This was the best setup I could find?!!?

A photo posted by Timothy C. Bohen (@tbohen) on

Notes:

12:41 pm – Started @ $11.90 – probably a boredom trade, but seems toppy at $12 and market fading a little. Stop at HOD $12.15

12:45 pm – Probably too “real” doubtful I get a wash.

12:58 pm – $SPY grinding, again annoying trading real stocks, they end up just tracking the market.

2016-02-24 1:15 pm – Keeps bouncing off of $12. Trying to be patient but going to stop quick if need be.

2016-02-24 3:05 pm – Such a slow day, I’ll keep this as long as it stays under $12, but exit before close.

3:55ish – Covered right into the close, it was basing at $12 no way I hold overnight, let it run tomorrow.

Watchlist for 2-24-2016 – $GRPN, $FCX, $MOMO – Great Plan on $EYES by @investorslive

Today’s Watchlist

Solid day yesterday, nothing too exciting today except EYES, but with upcoming Vice episode I’m in no hurry to short the front side.

Today’s List: Full list from Yahoo Finance

Second Sight Medical Products, Inc. (EYES)

Nate at Investorslive is way better than me at laying this out see below:

EYES nice action today – crowded all day means two things or maybe three 1.) stay away from short 2.) consider dip opps if trend holds for a higher squeeze and 3.) if you ARE shorting make sure its into a parabolic push/stuff move and not into weakness. Ideally $7-7.20 or higher maybe even $7.50 I’d have orders out into parabolic as this one likes to spread out but take not of the volume here vs. last run – major vol here – don’t step in front too hard.

EYES

Groupon, Inc. (GRPN) -NasdaqGS

Keeps hanging around, which probably means its not a short, but will watch for a para type move. No grinding.

GRPN

Freeport-McMoRan Inc. (FCX) -NYSE

So tired of fighting this, just wish it would die and go off my scans.

Target: $7+

FCX

Momo Inc. (MOMO) -NasdaqGS

Seems early, let it squeeze and run.

MOMO