Watch List for 12.5.019
AKBA 117m.f., Akebia is an Massachusetts based Bio Pharma ticker that has had a big run along with the other Bio Mania plays. This ticker had a lot of insider buying near the beginning of its run is stuck under resistance in the 6.00 area. I have to admit that I am playing a risky game by holding shares short overnight. Initiallly my risk was in the 6.30 range, highs from a few days ago, but now I am in too big and may have to cut closer to the 6.15 resistance. This can make big moves fast, so Akebia will be my main focus this am. 1.5m shares available
AUPH 95m.f., Arurinia is a Canada based Bio Pharma ticker that is up over 100% in the p/m on positive news in one of their Stage 3 Clinical trials. I can’t help but feel this is extremely overextended at the current price, and will have a considerable pull back at the market open. Of course, if this breaks 20 with high volume this could test yesterday’s a/h’s highs. This will be an interesting one to watch, and my ideal play seems too risky. I would like 25 shares short @ 20 with a risk on 24, leaving room to add if she cracks and pops. 376k shares available
KOD 32m.f., Kodiak is a California based Bio Pharma Ticker that has been showing massive morning spikes and fades until yesterday when it ground to new all time highs. As short bias as I tend to be, this one is screaming stay away! It can offer some extreme pull backs, but right now every short is underwater and the sky is the limit! 19k shares available. (Share count doubled from yesterday)
ARWR 95m.f., Arrowhead is a California based Bio Pharma ticker with a similar supernova pattern to the other big Bio Runners. She seems to be trading in a channel between 60 and 70 and doesn’t want to give up as Biotech is still hot, hot, hot. If this has a big red crack under 64 I might consider shorting the bounce. 918k shares available.(share count going up, usually a bad sign for shorts)
CLVS 53m.f. Clovis Oncology is a Boulder Based BIO Pharma ticker that is calming down a little bit after some extreme volatility. I would love a fast push to the 14.00/14.50 area for a short, but alas No Borrow, No Cry! Wait! There are 324k shares now! Hmmm, maybe need to risk closer to 15.00
PTON 280m.f., Peleton is an N.Y. based Leisure ticker that had its IPO recently. The past couple of days have been red for Peleton, but after a strong comeback in the second half of yesterday this could be poised to hold green. I could see going long 50 shares on a r/g move risking 2.00 a share and looking to sell half near highs. This would be a swing trade and a distraction of my main focus though. 539k Shares Available.
AMZN, AAPL, SPY, QQQ, DIA, MDY, IWM, The markets are all green in the p/m. Again we probably get a little selling, then a push to the next resistance level before closing mid-range. Without some great news I would expect a test of 314 on the SPY and a close in the 313 range.
I am ready to consider taking trades, but I really want to be disciplined in my executions. This means having a watch list every day, and writing down & sticking to my plans. 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.
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