13 March 2018 Watchlist
MARA was the biggest percent gainer on Monday, as it traded 14 million shares on the day. It announced that its facility in Quebec had begun bitcoin mining operations, and recently the company became involved in the crypto sector with its recent acquisition of Bitcoin miner Global Bit Ventures. The last time this stock spiked up due to Bitcoin related news was in November, when it went from the 1.50’s up to 10.00. However this stock has been gradually downtrending since the beginning of 2018. This is a potential play for me, but only if the price action is right.
OSG, CRIS are recent earnings winners and CRIS was a play that was on my previous watchlist before I removed it at the last minute. Guess my first instincts with this one were correct after all, as it gained 19% on Monday. OSG was up 19% on Monday as well, along with other shipping stocks. These are potential plays for me, as I will look to dip buy after any major panics or if they can continue their runs and buy when the stocks breakout passed their next respective resistance levels.
RKDA was a huge mover on Monday as it ran from 10.00 to 18.00 before closing at 12.55 on the day. This stocked spiked huge at the market open, however there was no significant news to correlate to it. Before Monday this stock was doing nothing, as it was hanging around the 6’s before it started uptrending last week. It actually hit a previous high of 18.00 intraday before cracking and fading the rest of the day. Stock is a little too high priced for me, so I will just watch it to see what it does.
VVUS, PRKR have eerily similar long-term charts, as both stocks have been downtrending for the past year. However both stocks spiked up on Monday, as PRKR received a favorable venue ruling in its patent infringement case against Qualcomm and Apple, and VVUS spiked on huge volume. Because of their dismal long-term charts I’ll just watch these for now.
PTI, TOPS were plays on my previous watchlist that continued to gain momentum on Monday. Will continue to watch these and look to get in on dips only. Will be more careful with TOPS however as I have been burned by this stock before and the company is a fraud.
JAGX, TTPH are biotechs that ran on Monday, biotechs were hot on Monday as several companies gained in percentage. JAGX has been gradually downtrending from the 1’s to its current price for the past year, and JAGX recently received good news regarding the FDA, however the stock didn’t behave well after the news was released last Friday. TTPH is up about a $1.20 from its year low in the low 2’s, and has been gradually stair-stepping upwards, albeit very small, recently. JAGX is one I’ll just watch for now and TTPH is a potential play for me, since the next resistance level is in the 5’s and it has support around the 2.50-2.60 area, the risk/reward is favorable. However, will play it safe and look to get in on dips.
NXTD recently had one of its board members resign. The stock is another crypto play that ran on Monday, gaining 13%. This stock hit as high as the 9’s last December and has been down-trending ever since. My goal is to watch this stock at the market open and look to see if it will continue to run from closing strong on Monday. However I’m also looking for any trend reversals that might signal a down-trend.
CGNT announced yesterday premarket that it will be acquired by LABORIE Medical Technologies, and subsequently the stock did nothing all day. So I will most likely ignore this one in the long run.