Solid week last week guys – we got some impressive action on Friday thanks to the White House headlines re: China companies – I’m sure we’ll have more aggressive action this week. A good reminder to trade the BIG moves and if you’re trying to anticipate the next move on some of these things just remember you’re only one headline away — so always re check re make sure you’re risk in in control!
EROS nice warnings last week – one again minimized the trade but always good to know what you own! MRNS as well last week pre market game plans with #KnowWhatYouOwn really stand out action this week. Likewise all should be aware of PRPO and risk involved.
Hopefully we have more!
Video Scan and Game Plan
Stock Watch List
JE typically most move happens quickly and then consolidates so I’ll be looking for weak opens and rally back to capture the move or just hope that it keeps charging up so we can get a nice back side potential fade here.
INMD prepared for this move on Thursday and as soon as we saw those bids give way (support break) and confirm. We got the trade thesis being what we’ve seen on FSLY among many other unwinders lately. I had missed the first crack otherwise would have probably sized in twice what I had but still got a good piece of the move regardless. Morning move and looking for failed follow through to join again.
FSLY steady pressure the last few days looking to fade all weakness if its under VWAP 945-10AM + and not holding trend.
GHSI they’ve been doing a great job workout out size, and working in shorts. There was a nice trade on Wednesday but the last two days they’ve let it slam but keep it up — going to try to keep it on radar for when they do pull the plug it’ll be a nice .30-.40 fader but for now they may have a plan to get this thing towards $1
USAT so far working well on the last video I did – explaining how I’d trade it. This can very easily continue to ramp back up to where it came from. At the end of the day it’s a solid company with w/o their ducks in order they’ll likely re list and this will be a small hiccup — so we’ve seen this before and as we went over $5.50 was a big level we’d likely see 13D filing (We got a form 4 instead) and then low liquidity squeeze back. Whatever you do it’s not worth a chase on strength and be cautious if $5.50s doesn’t defend as a base.
RLGY nice idea from Michele for the swing thought – solid move off $6 when she put it on radar. ABCDer break out — would be watching all weak opens for more until it starts to either speed up or gap and fade off.
LXRX not losing off radar – ideally $3-2.80s soon if sellers come in – that’s all I care about.
EXPR weak open vs $3.20s for $3.50-4 potential – very well could go we’ve seen PIR FRAN MIK all have nice moves
JD given the White House headline Friday re: China companies we got some insane range likely goes on the top of the list with a few more below
CTRP same deal as JD but this one had priced at $28 earlier in the AM was on highs and then everyone got caught on the wrong side. Don’t underestimate what could happen here on an unwind.
FSLR (and SPWR) worthy watches – all $1-1.50 + rallies may get sold off for the short term so will be looking for trades there vs. VWAP 945-10AM +
AXSM so far so good from game plan all week on scan and had tweeted looking for some support test and ideally break that $23 level for some real wash/change of hands.
VNRX cautious of snap back on low vol but watching all pops w/ failed follow through action. Really nice trades the last two days!
PAYS unwind watch
MU this kind of range and volume calls my name — usually off open not so much 9:30-9:32 I’ve had mixed results there but any big flush and unwind or any big rebound and parabolic to take the opposite side as soon as the exhaustion candles come in.
PTON taking a chance here been buying weakness as I said my goal was – if it can’t hold trend the next few days than I won’t add any but going to give it a chance. Got a feeling they manage to fix this one.
ENPH so far so good – from the shorts all week off strength with a goal of sub $20s near term. I think Citron brought a lot of shorts in and squeezed them out but back to reality and heavier than before now. Will keep trading anticipating the $18-20 range we’ve been talking about in the room and each scan.
VSLR downside of front running hit pieces too much is when you hit them and use that gap down as your exit it snaps back on you. This is likely what happened here on VSLR since they faded it nearly $1.50 before releasing their report. Watching to see how it reacts off Friday highs and then possible fade off.
CAG reported – fast flush off open Friday so didn’t get to trade the plan I wanted but will keep an eye this quarter has been pretty straight up. Will look for clean ABCD style set ups to join or – any VWAP fails to join unwind. Prepared for both sides. Good vol and range and expecting the next 2-3 days + to pick a trend (sorta like ARWR did) multi big red candles.
HOME non stop watch for me, I just don’t want to miss the day it goes to $7.50-8
CPRX watch all failed follow through momentum possible sub $5 unwind to $4.80s
Nate,
Could you explain more about CPRX not getting the offering off, b/c they had shares at Etrade and retail traders being involved. I re-watched this multiple times, and am still missing the points. Thank you.
Check 9/13 chat logs and Pre market broadcast.