Recap for 10.13.017

By Madbash

 

HMNY The monster is wounded and she will probably get a bear attack in the morning.  I would love to long 100-150 shares into a morning panic toward the 14-16 range.  This has some major correcting to do, but there will be a bounce.  This had a nice weak spike at the open, but could not panic below the 17.30s  I made a note to possibly buy 100 shares @ 17.50, but I was “planning” for more panic so I did not take the trade.  As it turns out there would have been great r/r and a couple opportunities to get in @ the 17.60-18.00 level.  This punched through resistance @ 24 a couple of times before closing slightly red on the day.   In hindsight  I should have been more open to the bounce play as this was well off its highs just under 40.00  Since this closed kind of weak, I would look forward to a test of the 14-16 area next week.

 

INFI This pharma ticker is not low float, but it did rotate its float with 61 million in volume.     This could be a worth bounce play off of the 3.40 area, but I say this has resistance all the way up to 4.50  I will watch for morning volume, as this could run with a strong break of today’s highs in the 3.70s.  This opened down off its highs, but was able to offer an ok 15% bounce in the morning.  It quickly crashed through VWAP and finished down over 20% on the day.  This ticker offered a lovely short into the morning spike with clear resistance only 15-25 cents above.  The resistance is real.

 

SRAX  This low float Tech Ticker has had low volume the past…forever, but it had a nice run last month that has opened the door for more gains.  A strong break of 3.45 could propel this past 4.00, but I see resistance all over the chart.  Volume trumps all, so I will watch closely while I likely will not play.  This opened weak, but had a little 10% spike up toward 3.45 which was quickly rejected.  This closed down 3.5% and it was missing the volume/volatility that we need for Challenge Worthy plays.

 

AKER This Low Float ticker had an impressive 110% morning spike into the 1.80’s but gave up a big portion of its gains to close in the 1.20s The a/h has been a bit strong, so this could see another morning spike.  I would only ever short a chart this ugly, but I will just be watching tomorrow.   There was a beautiful morning panic and this consolidated just above 1.00 to close down 18% on the day.  Woe be the longs with faith in junk tickers like this. 

 

MGTI This OTC Ticker is one that everybody loves to hate.  She has merciless squeezes, and reported good new toward the end of the day.  This ticker also has bitcoin hitting new highs so it will be one to watch.  There was a small gap up from yesterday, but strength was quickly diminished as this was red most of the day.   I don’t trust this junker one bit and would love an opportunity to get short for a ride back down the the 1.00z

 

BTCS, BITCF, DIGAF, BTSC, GBTC, SING  These are all Bitcoin Tickers to some degree or another.  I will be watching them for nice spikes and breakouts of day highs.   I think the bitcoin mania is wearing off as many of these tickers could not hold their gains.  The overnight play was the way to go on many of these as there were little to no follow up spikes after the morning.

 

KNDI This Tech Ticker had a nice run from the 5’s up to 10.  I am watching for a day or two’s push up to the 9 area which would be nice resistance to play a short off of.  Ok, here is the test.  There were highs in the 8.8999 range, but I was neither able nor watching to take a short position.  In my best guestimation this will be fading next week.  

I  have 0,0,0,0,3 Day trades available from IB, and I am nursing a cash account @ Etrade, so I have one trade I can make tomorrow. Alexander Elder said it best with this quote.  “If you let the market make you feel high or low, you will lose money”  With that in mind I will do my best to follow my plans and not let Elation, Fear, or Greed influence my decisions.   I was really focusing on HMNY, but the price action did not fall into my plans.  Also, I was not in a great state of mind so I was fine just watching and preparing for my Friday bike ride.  I learn every day and look forward to applying all the skills I have attained while participate in the Challenge.  Have a great weekend and remember to give up a little time now for a lot of freedom in the future!  Thank you Tim, the Gurus, and all of Profit.ly!

 

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