What’s there to say today? Earlier this morning I tweaked some things on a few of the scanners that I built on the E*Trade Pro platform and long story short, I caught some of the biggest swings in price than I have ever hit in a long time. Usually the scanners, how they were set up, would catch on DURING a move and I’d miss out on some serious profit. Not even money left on the table but simple money not PUT on the table at all.
Needless to say, today has been phenomenal and usually I’m more of a swing trader than anything. Today though, my day trade skills were tested as well as the new scan set-up I put together. Even though I risked a decent amount of money, it was all in the name of learning and trying to stream line what already has been working. So what was today like?
Ended up taking a long position in ZFGN. Haven’t really read up on the company yet but what I have done is analyze the chart set-up. Lately there has been a pretty successful trend of finding Gap Down charts and playing the speculation. Miss most of the downside after it finds bottom and if we see some speculative trading like today, my outlook is simply based on the idea that there have been a TON of biotech stocks that have had a similar pattern and enough spec on “future” potential of their drug therapies has been enough to ignite a decent run. Obviously I’m taking HUGE caution here because as speculation goes, I could also lose big too. (more details to follow in the coming days)
A couple things that hit my scanner before 11AM and GBR is the one I ended up jumping on earlier in the morning. I try to keep my tweets as active as my trades but sometimes it’s difficult. In any case GBR entry was at $3.04when the stock was seeing a lot of above average volume while also holding a sideways pattern. My hopes were that there was enough short interest to catch a squeeze and sure enough that’s what I think we saw. GBR ended up hitting a high of $5.13. I wasn’t lucky enough to get out at the high but a $4.40 exit after it started to pull-back isn’t too shabby in my book either 🙂 As far as INVT, I never entered the trade. It was way too volatile for me and rightfully so it has ended up coming down in price. KONE was something I traded yesterday on some monster momentum and wished I had held out a little more for an overnight hold. Unfortunately my balls are THAT big so I took a 45% gain on it intra-day on Thursday LOL.
CLNT was another great trade so far today. I took a shot at it with a small starter at $1.30 and still holding (as of 12:38PM EST). I’ll keep a close eye on this during the afternoon and if I reeeaaaaly like what I see, I may overnight hold here. NFEC I have on watch. The daily chart looks good to me and I’m hoping to see a confirmation of a new bull trend. Kaikin Ashi (or however you spell it) chart shows a bullish undertone so for now it’s on my watchlist for a swing. NSPR is the same as NFEC. I’m not in it but again the daily chart looks a lot better over the last two days, there haven’t been any crazy moves like GBR or XCOM on an intra-day level so this may be as simple as a bottom bull play. And as far as OPGN goes, I thought about trading this today but the intra-day chart has consolidated on me before I could make a decision to react. I would probably be in the red by a little bit had I taken the plunge so right now it joins the party with NFEC and NSPR on my watchlist
SPHS is a bit of a different story because it has had an AWESOME day so far with really nice volume that has taken the stock from about $3.90 to $4.60 and is now trading kinda sideways. If you look at the DAILY chart though (slideshow above) I notice that even though volume is a little light compared to the explosion it saw a few days ago, the stock is continuing to increase steadily in price. For me this is still a watch BUT depending on what the afternoon looks like and possibly what Monday (7.25) looks like, this may be something I bring home with me for a few days. I will be watching to see if it retraces back to the 20MA (yellow line) or if it can establish a new channel a bit higher that the 20 to potentially retrace back to.
LPTN is another one on the list. We’re starting to see an uptick in volume while price has just started to increase. In my opinion, just like CBYL….just like MRNS, this could be the early signs for a reversal in my opinion. So for now, LPTN is on watch.
Other than these, I’m watching a few others that have charts that I feel could indicate some kind of promotion or at the very least, “nudged continuation trend” WHLR, GDEE, and CJJD:
They’ve got these chart patterns and volume indications that I like to see when I’m targeting a swing. Quiet to moderate volume, consistent price movement on a gradual basis, and testing technical end points like Moving Averages and historic Support/Resistance lines. That’s all I’ve got right now. If you come across this article and want to follow me live, head to twitter and follow @MrSmallCap a/k/a Small Cap Reporter…and if you wanna be really awesome, share this and get your friends to follow the twitter handle. Have a great weekend!
Disclaimer: I’m not paid to advertise any of these companies and you should only take what I say for entertainment purposes only. If you are concerned about making money in the market DO NOT TAKE MY ADVICE. CONSULT A REGISTERED FINANCIAL ADVISOR for any trade or investment related actions. I’m not licensed and if I lose, I’m losing my own money. I am in no way responsible for anyone making their own mistakes. Also I may be buying and or selling during the time I mention these stocks.