Watch List for 1.28.019
CVSI 83m, This OTC Life Sciences Ticker actually develops synthetic CBD. What the F#ck. Nature has provided a potent medicine and these jack legs insist on synthesizing it. I like the chart for a short set up and currently have a position with a risk above Friday’s highs. The trouble is that the sector leaders are still strong. If 5.25 gets rejected, and we have a nice red day, I would consider adding to my current position. Current Plan - Short 500 CVSI @ 5.19, Risk @ 5.39, Reward @ 4.59
CRON 177m, This NASDAQ Weed Ticker is a Canadian Pharma investment firm that is at all-time highs. The price of this ticker is getting a bit “irrational” so I am looking for a solid red day/panic that will give the longs a reason to start selling. This has already had 3 or 4 breakdown fake outs, so don’t doubt how far this can go. An ideal scenario would be a push to 20, big rejection that pushes back toward 17, and then look to short the bounce with risk off of highs.
CGC 50m, This NASDAQ Weed Ticker is a Canadian company that actually handles the bud. It has had a strong run from 30 to over 50, but tends to give up gains quickly once the tide turns. I am watching for a momentum shift as much of the MJ sector will follow the decline of CRON and CGC.
FNMA 87m, This OTC GSE (government sponsored entity) has been a very volatile and liquid ticker in the past. It recently had a nice b/o when it was announced that it may be soon released from government conservatorship. I would like to see more news and a push to the 5 area as this has very reliable 1st Red Day OTC Short opportunities when it gets extended.
PCG 518m, This NYSE Utility Ticker is filing for bankruptcy. The news risk is far too great to continue to play this ticker, but I am watching to see how it plays out. At least two face ripping short squeezes have occurred when news hit the wire, so I could only imagine taking a minuscule position short if this had another 20 seconds in the 14 territory. Likely a Big Big Avoid.
AMZN, AAPL, SPY, QQQ, DIA, MDY, IWM, The markets are trading sideways so maybe we had the shortest bear market in history. I was really looking forward to some extreme panic, not sure why, but for now things seem stable.
I have “unlimited” trades with IB, and my small cash account with Etrade has about 2200 in settled cash available. 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.
Join Us &
Apply for the Tim Challenge Here