Recap for 10.10.017

By Madbash

 

VERI I have played this ticker twice long, once short, and have a long position from 38.05  The chart is playing out just like a typical pump so I would not be surprised to see this test the 49z and maybe even 50 in the next couple of days.   I would look for another short position close to 50.   This had a nice a/h yesterday and p/m today, but this ticker was wrestled back down from 43 p/m under resistance at 42  Considering how weak the action was today we could easily see a re-test of 36 in the next couple of days.

 

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 had a weak morning spike of about 20%, 10% of which was in the green.  I would expect a few days of fade from here.

 

HMNY This ticker has had a monstrous run of nearly 700% from the high 2.00z  I have taken a meager $50 from the many break outs and morning spikes.  The price has gotten far too extended to be chasing now, but I would not be surprised if the top is in.   IF this does break 23.50 we could easily see another 3-5 dollar push.  This monster is full supernova at the moment.  This broke 23.50 in the p/m bud had to drop down and consolidate for the real breakout.   This ticker is in the low 30.00z in the a/h and continues it’s pattern of 2 and 3 breakouts a day.   Nice grinder, woe be the stubborn short.

 

CLNT This Low Float ticker had an impressive 145% run to 8.45 yesterday morning.  When the follow up spikes couldn’t break 8.00 I began to doubt the strength of the run.  “Oct 09, 11:04 AM   Madbash If 7.30 doesn't hold $CLNT in trouble, imo”  This had a 50 cent drop right after I said this and was never able to reclaim 7.30  This closed weak down in the 6.40s so it is a potential short into strength.  This ticker closed down 23% on the day. It opened red and barely had any spike.  Plays like these are why you need to be disciplined enough to use a high net worth broker.

 

ECYT This Ticker had a nice run of %350 from one morning to the next and has consolidated for 5 days.  I believe the high float has prevented too much volatility, but this is now looking very weak.    I would expect a test of 4.00 when 5.00 breaks, or we could get a nice squeeze if the bulls can somehow break 6.50  This ticker had a weak delayed morning spike.  I believe Dux got a big short in, and I can’t imagine he lost on it as this closed under VWAP and not too far from lows.  

 

LINU  This low float Tech Ticker had a nice 160% run on Friday, but Monday’s action has painted this as a one & done.  If we can get a bounce off of the 1.50z we may see a test of 2.25, but there is a lot of selling pressure and the bears have power on this one.   This ticker had a great morning spike and blew through 2.25, consolidated for a bit, then spiked to highs of 2.59  There was a nice fade to 2.00 before churning all day to close up 44% @ 2.22

     

I  have 2,3,3,3,3 Day trades available from IB, and I am nursing a cash account @ Etrade.  I would like to wait until eod to take a position as I want to always have a trade available for a Thursday o/n play.  I have one long position to exit, but It will likely be 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 plan and not let Elation, Fear, or Greed influence my decisions.   I did not use any day trades today, but I do have a hodge podge of shorts and longs that are manageable for the moment…opportunity costs can be big, I always seem to forget that.

 

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