ReCap for 11.27.017

By Madbash

 

BTCS, BITCF, DIGAF, BTSC, GBTC, SING  These are all Bitcoin Tickers to some degree or another.  Bitcoin is fast approaching the colossal 10,000 area, so I will be watching these tickers for nice spikes and breakouts of day highs.  BTSC was the big volatile winner of the group.  I did not play any of these because I was focused on other plays.  There were multiple opportunities, but I find it hard to play OTC tickers when there is volume and volatility elsewhere.  Bitcoin is stalled out a bit in the 9500 area, and may be due for a correction.

 

EKSO This former runner has had a nice move from the low 1.00z as high as the low 5.00z  After two big red days I would expect a #5 bounce, but probably after a little more panic.  I would consider a dip buy risking off of support in the low 2.40z  If the 2.50z cannot hold the next support level is not until the 1.90z  This had a nice dip down to the low 2.60z, but it did not get low enough for me to dip buy.  After failing r/g once this had a nice strong push up into the 3.20z.  This is closing near its highs in the low 3.00z, but the momentum is probably done unless there is a meaningful p.r.

 

XNET This ticker has a larger market cap than I usually like to play, but it is mighty overextended.  The trouble is that it is easy to borrow, and continually squeezes shorts as it makes new highs.  It seems to be tied to bitcoin, at least a little bit, but I do not think it can keep up with the bitcoin momentum.  I would consider a short into previous resistance @ 27, but only the smallest of positions would be acceptable in this ultra-bullish market.  I waited for this to open although there was an opportunity to short in the 26z p/m.  I kind of FOMO’d my way into a 25 share position at 23.25, but this is tanking beautifully toward eod.  My risk was never even near being threatened, so I will swing this for a few more dollars downside.  Ideally a cover in the 15z will be attainable. 

 

SRAX  This low float Tech Ticker has recently made new 52 week highs.  All of the recent volume has most likely refreshed this chart as any overhead resistance past 6.00 should be minimal.  This could be a good candidate for a morning panic buy, as it has had 4 really strong days and may be due for a correction back toward 6.00 This tanked a dollar a share at market open and had a one dollar bounce from lows in the 5.80z  I did not give this much consideration as the set up was not very good.  Some folks played the dip, but I am fine just observing and seeing the pattern play out.

 

MGTI This OTC Ticker is one that everybody loves to hate.  She has merciless squeezes, and had a strong day on Friday.  I would consider a short into resistance @ 3.00 mainly because this is such a pump of a ticker.  I would be surprised if this can hold a break of 2.50, but in this bull market with Bitcoin so high anything is possible.  This had a gap up to 2.50 and a great morning spike to 3.19  A short on the bounce to 3.03 would have been beautiful as this is closing under 2.50  I had a rather good read on this ticker, but being OTC had me avoiding it.  

 

GLNNF This OTC ticker has a very pumpish chart, and seems to be riding some of the Bitcoin momentum.  I would consider a panic buy if this can drop .90-1.00 in a short span of time.  This had a really strong day and is very much parabolic.  This is closing right at it’s highs and would probably make a good o/n play.  I have two shorts on the books, so I will just continue to watch for morning panics on this ticker.

 

VERI I took another short on this pump chart @ 24.   This is closing in the low 22z and I would look to swing for a cover in the 15 area.  This is not the best r/r play, but seems slow and safe.

 

MARA I dip bought this ticker p/m after showing some serious spikability.  I FOMO’d my way in a bit @ 8.25 when my order sitting @ 7.75 would have filled with ease a couple of times.  I did not want to hold for market open, and sold for small gains.  There was a nice morning spike toward 10, but this is now heading toward the low 6z.

 

I have 1,1,1,3,3 Day trades available from IB, and I am nursing a cash account @ Etrade, so I have two trades 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 a little impatient with my plays today, but finished green with promising positions for tomorrow.

 

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