A red day for the major markets today, which equalled many large stocks close to breakout levels I’ve been watching like CALA/OCUL/PENN/HDP also having red days. Likewise similar stocks such as TCS/CONN/NOMD all moving sideways.

Yesterdays Trades

BORN – Shorted this down trending spiker on 1^st red day.  Decent entry but should have been more patient with my exit. (Tracked on Profit.ly)

 

Current Trades

EXTR/FLEX – Both dropped along with the major markets but grinded back throughout the day finishing back near their morning highs. I’m taking this as a good sign and will hold with a view to grind higher.

 

Day Trades

CYTR – Went red yesterday and had a big drop but ground back and actually closed green on the day. I’m still short bias and with long term resistance just below $1/share I’d expect this to crash back down if not today then very very soon. Shorting G/R with HOD risk is still my best plan.

LINU – Up on earnings but at 4x the price of a few days ago I won’t chase. Down trending chart makes me want to short so if I find shares I’d look for a G/R move keeping a tight risk as shorting earnings winners isn’t something I really want to do.

XTNT/SPI – Failure to hold spikes, down trending charts and spiking on no news/weak news makes these two potential shorts for me. They’ve already dropped a little so I’d want to see them retest recent highs to give them more room to drop.

MBOT – Positive patent news and a former runner. Down trending chart but when volume comes in this stock can really move. I’ll be watching for a break of yesterdays high of $4.55 with risk on $4.25. I’ll try to add shares if this really takes off.

 

Swing Trades

As I’ve written above lots of the swing stocks I’m watching had red days. Still on watch with alerts set up in case they come back today but nothing I’m immediately expecting to enter.