What’s up Profit.ly!? I hope you all had a great weekend! I’ve been slammed busy all weekend, which is a good problem to have sometimes but I’m zonked right now! I’m definitely going to pass out early tonight and get some good rest to prep myself for a solid last full week in May. I’m going to cover my watch list and a little bit of stuff regarding Level 2 and I sure hope it helps out because Level 2 can be tricky for sure. Enjoy the rest of your weekend everyone and I’ll see you all on Twitter tomorrow bright and early!
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CLRB – After receiving good news about patent ID numbers on Friday, we saw a massive short squeeze take place throughout the day. It closed the gap from back in April when it dropped from $3 to $1. This almost broke out past $4 and after finding some support in the low to mid $3’s intraday, I could actually see this retesting that $4 range on Monday. If it fails again though in those high $3’s, it may be a good short opportunity but I would certainly be cautious as the last 2 times I’ve shorted supernovas that have spiked 100%+ I’ve lost big so I recommend being careful as well.
GLBS – This has jumped nicely each of the last 2 sessions. It’s also a former runner that fails to hold its gains every time it spikes so I’m more short biased on this one than anything. I am going to wait to see if it spikes in the morning again on Monday because there is a little momentum behind it right now, but if it fails in the morning, I’ll see if I can find shares to short.
ONCS – This isn’t my favorite chart in the world however it is right at long-term support so may consider taking out a small swing position with the goal of this retesting to high $2’s. and only risking $0.20 or so. We did get a nice little volume spike on Friday so maybe we can see some momo heading into earnings in a couple weeks. I will NOT hold through earnings if I decide to take a position.
Secondary Watch: AVXL, VLTC, GSAT, ORIG