Very difficult couple days for trading in general and especially for a person who prefers buying and not shorting. The markets in general have been acting pretty weird in my opinion, the swings have bin big with a ton of reversals in short term trends taking everything with them. From yesterdays watch NADL and BBRY hit PT's just in pre market and kinda lingered with markets and fought a battle the res of the day while NADL was a really nice setup and play. PLUG no energy for a bigger bounce of support. But nice small IPO trade on NETS.
OCRX- Long time no see with this stock. This is a FAKEOUT STOCK. Fakeout meaning many many times have I seen this stock gap up and fail in the morning and sell of screwing everyone up. Yesterday right after close it reported some data about preventing progression of fibrosis on the liver. In general this can be a decent catalyst for a run, its gaping over some decent resistance at 1.50 and is at about 1.6 now which is also a level of previous resistance. The one thing about this one is that in needs big volume for a run, so unless there is a huge momo candle with 1mill vol or bigger I might look for a short. I think the first 10 mins of the day will decide if it will finish the day back at flat or even more up. 1.30 third lvl of supp where it might end up if no momentum. If it opens strong it can test the PM highs at 2$
AAOI- gaping up big- almost 25% . Yesterday they reported that they expect to beat their Q1 forecasts by a nice amount and the stock catapulted. Now this is a nice PR and it gained momo, but in general this is not a thing that always holds gains. Only on momentum like yesterday can it hold but if the markets are like the last couple days I doubt it. I am skeptical about this one, plus a ton of resistance coming up. HOPING for a para move in the morning to one of the resistance levels for a nice short. First lvl 51.60 where a decent amount of resistance comes than 52.30 and 54.50 after that but doubt it can pop that much, but if it does believe me it can sit back with the same intensity. So most likely a morning push - fail - fade. PT 49$
DRYS- Big gap day before yesterday but fade most of the day than yesterday based at 1.6 and closed really strong. Now a ton of ppl prob held it O/N for the gap up and now in the morning will sell cause its gaping down. In my opinion this opens with a wash to the 1.90s or 1.65s and rebounds of those levels. Now I am interested only in the rebounds not the shorting in the open. PT 2.3$
EYES- Reported that they implanted their first Retinal Prosthesis in Asia. This stock has the tendancy to pop on PR's so this can gain a momo push in the morning. Its already traded its avg daily volume so it will def have an audience today. Looking for 1.40s to hold with a nice amount of vol for a nice spike. PT 1.7$ maybe more if it gets going
- Jobless Claims 8:30 AM ET
- PPI-FD 8:30 AM ET
- Bloomberg Consumer Comfort Index 9:45 AM ET
- Consumer Sentiment 10:00 AM ET
- EIA Natural Gas Report 10:30 AM ET
- 3-Month Bill Announcement 11:00 AM ET
- 6-Month Bill Announcement 11:00 AM ET
- 5-Yr TIPS Announcement 11:00 AM ET
- Baker-Hughes Rig Count 1:00 PM ET
- Bond Market Close: 2:00 PM ET
- Fed Balance Sheet 4:30 PM ET
- Money Supply 4:30 PM ET
/CL what a crazyday yesterday with inventories giving a really nice result and a huge pop as soon as the numbers came out but than after that a huge amount of selling pressure came in from nowhere. Down trended for the rest of the day after such a slap and based at 52.90 and again like the last couple days the London session bought it back up with 53.10 providing resistance but it broke through and is now keeping above that level. Thats the first level of resistance now and 52.9 the second where I would look for a long trade. It should def hold to these to levels and continue its move to the upside.
Been a hard couple days with the markets being so unpredictable so keep it simple guys and take it easy. have a good day and trade safe.