Watchlist for 8.10.017

By Madbash

XXII This pump of days past, and proven spiker had a massive volume day on Friday.   After a handful of attempts this had a nice break through the 2.00 area.  There is a lot of hype around this tickers technology, but being a previous pump means that there are potential bag holders.  This has found a nice rebound after being 25% off it’s recent highs.  It is up nicely after hours due to earnings, but I can’t help but want to find a nice spike to short into.  I anticipate this stuffing in the mid 2.60z tomorrow

 

AVEO I covered a short position on this ticker in Wednesday’s p/m.  I made a very amateurish mistake by not knowing that earnings were being released this morning, so I covered after a little deliberation.  This became an earnings winner, and is a very slow mover, so it is probably a “no play” unless we get some significant volume and volatility. 

 

ACHN I found this ticker Wednesday morning through my top % gainer in STT.  It was apparent that this was an earnings winner, but the long term chart displays a lot of overhead resistance.  I decided not to short because this was an earnings winner, but the resistance proved very strong after a nice 1.00+ move off of morning lows.  Next time I see a chart this glaring I will probably take the short, especially when the ticker has warrants to sell shares.  Possible short into follow up spikes.      

     

ZN I have a short position in this sketchy Energy Ticker.  I am waiting for their latest round of warrants to become exercisable before I cover.  I will stick to my risk if this gets volume, even though we may be on the verge of significant selling pressure.  

 

TMQ This micro-cap ticker has a majorly pump looking chart.  I have a short position, but this seems to be highly manipulated so I will not hesitate to cut any losses.  There was some really strange price action toward the end of Wednesday with really large buys and sells going through, but the spread was changing drastically between 1.13 and the low 1.20s  I will most likely continue to swing this until we get some considerable break down.   A cover into panic after a 1.00 break would be ideal. 

 

DRYS, TOPS, DCIX, SHIP  These shipping tickers are all exhibiting some volatility as the latest round of toxic financing for DRYS dwindles down.  I am estimating another 3 full weeks, or more, before Kalani is done diluting, but we may get some big moves once the well is dry.   While DRYS had a good day things are not looking so great for the other shippers.  Probably no play with these junk tickers, but they are definitely on watch. 

 

HEMP, MCOA, MJNA, OWCP, ERBB These weed stocks have all had a little bit of volatility lately.  I am watching for big moves that could lead to nice shorts.  I doubt there will be much momentum behind this burned out sector. 

 

I  will have1,1,3,3,3 Day trades available from IB, and I am a PDT @ Etrade for about another two weeks. I have two short positions to cover, and will be patient as I wait for great set ups.  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.   

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