Watchlist for 12.12.019
By Madbash
TNXP 1.3m.f., Tonix Pharmaceuticals is a N.Y. based Biotech ticker that I would classify as a Mighty Low Float. Tonix had a 30%+ spike in the a/h’s yesterday after announcing the issuance of a patent for a process to create one of their sublingual drugs. They target legit disorders like PTSD and Alzheimer’s. After breaking through the 1.00 mark yesterday and consolidating around 1.25, Tonix almost hit 1.50 in the p/m. I would consider a buy on a dip to the 1.25 area, or perhaps a pull back after p/m high break, but I’m not crazy about this set up. If shorts are too aggressive, this could spike big, but there is likely to be a lot of fake outs with a float that is so easily manipulated by big money. There were a few shares earlier, but now there’s Zero shares available.
CLVS 53m.f., Clovis Oncology is a Boulder Based BIO Pharma ticker that was once the “sector leader” in all this biotech mania. I had a nice short going yesterday with a decent average, but had to cover when Clovis closed stronger than I would have liked. She is threatening a gap down at the moment, and if shares come available I would consider another short into resistance in the 11.80 range. Zero shares available.
PTON 280m.f., Peleton is an N.Y. based Leisure ticker that had its IPO recently. There has been a fare amount of publicity surrounding Peleton because of a “controversial” add that has been running for the holidays. Now, adding fuel to the potential short squeeze, Citron Research has published a Short Thesis on Peleton exclaiming they have a $5 price target. Yesterday seems to have provided a solid reversal and Peleton is currently gapping up. As this looks to be the first green day I would consider building a long on dips, but this would likely have to be a swing trade to realize full potential. Zero Shares Available.
LMPX 4m..f., LMP Atuo is a Florida Based Automotive Ticker. LMP has had some interesting action as it is an IPO with an immediate offering and lots of insider buying. The float is definitely low, but there may be a lot of shares outstanding. A break to new highs could lead to further upside. I am watching for overextension in hopes of shares becoming available. Zero shares available.
TCCO 1.8m.f., Technical Communications Corp is a Massachusetts Based Hardware Ticker. Tech Comm had a huge gap immediately after announcing earnings on the a/h’s on 12.9. The action on 12.10 was highly volatile and voluminous, but yesterday was rather bleak as Tech Comm chopped down all day. I would think we will get some kind of green day bounce today or tomorrow, but without volume this likely stays stagnant. Zero shares available.
AMZN, AAPL, SPY, QQQ, DIA, MDY, IWM, The markets are looking green except for Apple, but the gaps are small. It looks to me like we need some more consolidation before moving higher. Right as I'm about to post the markets all dip to red. I see a likely range of 313.25 to 314.75 in the SPY.
I have been good about having a watchlist and plans before my recent trades. I can see that this discipline is quintessential to my success as a consistently profitable trader. 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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Another day with a ton of green across the board, but I am looking for shorts. The thing is, I am statistically better at short selling even though my biggest gains have been through longs.
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