Watch List for 3.7.017

By Madbash

 

 

DRYSThis shipping company has had round after round of toxic financing.  I have played it short a few times and have another position with an avg. price of 1.50  I would be a bit concerned if this breaks the 1.44 resistance, but all portents point to more dilution and fade.  My covers are set @ 1.01 and .71, but I will probably cover by the end of the week no matter the price.

 

BIOSThis earnings winner had its second big green day with volume after earnings.  There is a gap to close up to the 2.60 area so I took a position yesterday afternoon  @ 2.21  Unfortunately I fat fingered my way out of that position @ 2.23 so I got back in @ 2.27 I would love to sell p/m in the 2.59/2.69 range, but this does not have a lot of activity outside of regular hours.  I will use 2.20 as my risk and exit asap if this shows signs of failing green.

 

OWCP I tend to hate OTCQB pharma plays, but this thing knows how to run.  I am in @ 1.54 and am looking to exit in the 1.79/1.89 range.  I really should exit my BIOS so I can focus on this, as it moves at a very different and difficult pace.

 

LXUI started a new long position yesterday.  The support resistance lines I drew on my STT chart for this have been holding beautifully.  I knew that I wanted to get back in near support @ 10 with the intention of building the position whether it goes up or down.  I will add if this tests 9.60 today, as well as I will add on a dip if it opens strong.  I am looking to sell into resistance towards 12.  There is also a new upgrade from Zacks with a price target of 12.

 

All in All I am still trading too much.  I am comfortable with DRYS and LXU because of my confidence in their current pattern.  Having two hot stocks like BIOS and OWCP at the same time is where I may find problems.  Should any one stock suddenly have massive volatility it will certainly distract me from the other plays.  Again, I will exit BIOS asap to focus on my other plays.

 

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