The markets, overall, are still a little spotty sitting here at their highs. The last week could have been consolidation for a break out or it could be a ceiling looking for a reversal. I think we still need a little more time to figure out just what direction it wants to go. Remember, 3 out of 4 stocks follow the market, so check how the overall market is doing before getting in to any trades.
Morning Panic / Dip Buys:
EDXC - (N/A float) No more chasing this one, only looking for the panic/dip buy. Looking for a drop to .40 or even better .35
BMMJ - (N/A float) Moving up from March news about teaming up with a medical marijuana company. Stock is up 4x it's value in a month, so it's feeling a bit overweight to me. I'm now looking at this as a panic/dip buy. I want to see a morning panic to 1.20 for a bounce play. 1.50 may try to provide a bounce, but I think it will be a fake out.
Breakouts / Uptrends:
CPRX - (77M float) Looking for technical breakout on volume (I also want a nice catalyst) to push this stock up past 5.68 and up to $6+.
IRNC - (42M float) Strong first green day on news of receiving 7 patents. Looking for news to spread and volume to remain strong. Possible morning dip with buy opportunity just above .022. Looking for push up to .035 where it could run in to resistance. This would be a good exit point.
AMRS - (31M float) Nice first green day on news of repaying debt in cash (like a boss). Looking for continued uptrend and push past 4.05 s/r line. Would like to see this stock push in to the mid 4's today.
MBRX - (22M float) Up in pre-market with good news about their lung cancer drug. Volume is already way up in pre-market and this one could really blow big if that volume keeps up. Too hard to call the s/r lines this early. Wait for them to develop and buy with proper support and volume behind you.
OTTV - (31M float) Beautiful dump yesterday. Unfortunately it's bounce didn't wour as well ad I would have liked. Called the drop, but didn't play the bounce because it's spread was too big and it's volume only came in big chunks. If you can find shares, this one just needs to crack .1475 and it's dumping more.
Just to Watch:
DCTH - (9M float) Really nice FGD OTC buy on Tuesday. Earnings coming out some time today, so it's just a watch. No buy at this time as I don;t want to predict earnings.
ICON - (7M float) Nice first green day, but no news, no catalyst. I think it's just a 1 day bounce, but I'll watch it just to learn.
PLNHF - (45M float) Up big already and nearing multi-year highs. Feels like a chase way up here, so I don't want to go long, but a possible first red day could happen. A panic/dip buy to $2. I'm not sure. It's just on watch.
DPW - (3.6M float) Up in pre-market on earnings. No conference call yet so it's still iffy to buy in. Wait for conference call transcript to come out and for market to react before getting in.