I'm trying something new with my trading strategy. I'm only going to buy first green days, short first red days, or look to dip buy morning panics. That's it. No more continuation plays, no more momentum plays, no more gap fill plays, no more plays that are speculative. I'm not winning on any of those plays. So its only first green, first red or morning panic/dip buys. My lists will likely be a lot shorter because of this, so there's a good chance I will be less distracted.
Morning Panic / Dip Buys:
KBLB - (620M float) I'm still not buying way up here. This stock has support/resistance in so many places it's tough to judge a real line of support for this to bounce off of. It's also up a whole lot on this Polartek news from weeks ago. Watching for morning panic to either .335, .30 or .24 for a solid bounce play. I think this one needs to be played with a small position to start and add in if the bounce proves itself. This one could fake out a lot on it's way down.
Breakouts / Uptrends:
OTLK - (4.5M float) Low float stock reporting good earnings and getting an analyst upgrade to $12. That's 12 times the current value, so either the guy is a paid pumper or he knows something no one else knows. Could be a solid first green day, maybe with a squeeze. See how the rest of premarket reacts and see if it has legs on the day.
Just to Watch:
TAIT - (3M float) Ugg, the stock dropped in after hours to where??? Between $4 and 4.25. Just like I said it would on a panic/dip. Now, I don't know what to do. Sometimes these stocks like to mess with your head, ya know? They do exactly what you expect, but they do it when you aren't trading. Well, lets see if it tries to bounce from here or not. They reported earnings yesterday, and I'm assuming they weren't received well, but is this going to have any sort of bounce? Probably not. It will probably act like SUNW and try to rebound, but fail.