Watchlist - 9/19/17

Selecting Stocks and Analysis


$AMD

$AMD had a huge up day yesterday then started cracking around 2:05 PM which is when a lot of other stocks dropped as well. If it spikes it needs to break $13.49 which was resistance from a week ago. If not then it could be a good short opportunity.

$MRTX

Yesterday was the first red day for $MRTX. It’s gapping up premarket now so we’ll see what it does at market open. For a multiday breakout it has to get above the previous day high at $12.40. Could have some resistance at $14.50 (prior support) but that’s pretty far off.

$HALO

Had a multiday breakout yesterday but did not finish very strong. This could have just been the overall market aince it’s about the time when everything sold off. Potential short depending on how it acts.

$ITUS

Big up day yesterday but I heard it was being promoted so I would not hold it for very long. They probably needed to promote it to stay listed on the NASDAQ (stay above $1/share for 30 days).

$UBNT

CitronResearch posted a report about Ubiquiti saying they are a fraud. I’m not really planning to trade or even watch this but I do own a few Ubiquiti products and they are amazing. If you look at the chart from yesterday the stock did tank near the open. I don’t know the exact time when the report came out, but I assume this drop was caused by it. The thing they don’t understand is that Ubiquiti makes enterprise quality products at a fraction of the cost. That is why they are so popular and have a following; especially with home users and small/medium businesses.

They have exposed frauds in the past, but I find it hard to take them seriously now.

$NBRV

Offering overnight. There are a few shares available at IB so we’ll have to see how it acts. Yesterday it spiked after the huge gap up then dropped all day.

$CAPR

Another Biotech. Resistance around $1.60 and $1.75. Terrible chart, not sure how this one will work out.

Watchlist Review (3:00 PM)

$AMD

I attempted to pick the bottom and I ended up being right on it. I got out with a small loss because I was not confident enough in it being the bottom. It looked like it was about to drop more so I panicked and sold, losing 4c a share. I wrote a blog post about being more patient with dip buys.

$MRTX

Spiked at the open then faded all day. I wasn’t really watching this but it could have been a decent short if you got in on the choppy bear flag after the top was put in.

$HALO

Really choppy near the open. After it put in the double top there was a bear flag that could have been shorted but this was fairly illiquid so it wouldn’t have been easy to trade.

$ITUS

Did nothing significant at the open until 1:30 PM where it went up 60c/share. It barely traded before this time so not sure if I would have tried to get in when it started spiking.

$UBNT

I was not watching at all and never planned to trade it. After it tested the prior close it put in a hammer candlestick and spiked. The spike failed to hold and then dropped, bear flag, another drop. I wouldn’t have traded this because of the high price.

$NBRV

I was watching this one for quite a while at the open. I nearly shorted at $9.30 but I didn’t feel comfortable because it felt like the bottom even though barely any buying was occurring on the ask. I’m glad I didn’t short because that ended up being support from the previous day and it bounced significantly (could have dip bought). After it topped a few times it could have been a decent short but it was super choppy so the entries wouldn’t have been easy to spot.

$CAPR

I thought about getting in around $1.75 since that was resistance from a while ago but I didn’t trust it so I never even put an order out. It ended up breaking the high of day at 11:50 AM and then ran up to $2.65. Crazy move.



Disclaimer

I am not a registered financial adviser/broker/anything. Use this information for entertainment/informational purposes only. Any tickers mentioned are not recommendations to buy/sell/or sell short. They are used as examples only.