Not a whole lot brewing this morning and it’s a sunny Friday so looking for low stress trades.
$ORIG and $PRGN – watching for weak opens, shorts to pile in then I’ll try them long for a Friday squeeze.
$KOOL – Hoping for pops to short against yesterday’s highs.
Tons and tons on scan, will most likely need to reassess going into the open. Successfully avoided the FOMO on the shippers last week, ideally some spikes before the ultimate fade. I will make a point to post a plan about 9AM, I realize my list is not that big, but I tried to keep it at a manageable size. Probably going to end up very different in a couple hours.
Today’s List: Full list from Yahoo Finance
Legacy Reserves LP (LGCY) -NasdaqGS
Traded this “ok” Wed-Fri, probably should have covered when it cracked $3, but with BCEI and oil so weak I wanted to hold for more. Ended up covering late day when it reclaimed $3, not a bad cover in hindsight, especially since it put me in cash for the weekend. Overall probably a C+ trade. Hoping for perks to reshort.
Ocean Rig UDW Inc. (ORIG) -NasdaqGS
Kind of bummed I missed this Friday, I remember seeing it on scan. Lame excuse is if I remember right I thought they were a shipper not an oil rig company. So I put it on ignore. Will look to short, especially if SDRL stays weak.
First Majestic Silver Corp. (AG) -NYSE – Great Panther Silver Ltd (GPL) -NYSE MKT
Meh, both commodity, and both NYSE. Will watch for a top to fade with set risk, if they keep grinding up I’ll keep waiting.
Paragon Shipping Inc. (PRGN) -NasdaqCM – Globus Maritime Limited (GLBS) -NasdaqCM
No way I can go long at this point, but would like to see them continue to run. Tough to pick a price target on crazy runners like these so I will have to watch the action to determine a plan.