TGIF! I was finally able to be here for the entire trading week.
It basically went supernova yesterday then tanked pretty hard into the close. We’ll have to see if it continues fading or spikes more.
- Corporate News Blog - MannKind Announces Afrezza Updates from FDA; Includes New Data on Rapid Onset of Activity and Effect Duration
Nice breakout over $2.35 yesterday. Not sure if it will continue.
- INSERTING and REPLACING Inotek Pharmaceuticals Announces Merger Agreement with Rocket Pharmaceuticals to Advance Pipeline of First-in-Class Gene Therapies for Rare Diseases
The long term chart is just terrible. Many reverse splits to stay listed on the NASDAQ. This is a potential short and IB has 135K shares available at the moment.
The Powerhouse Solar System joins a long line of nifty green building products that couldn’t find enough customers.
This basically means the product failed before and $RGSE has licensed it. It’s not likely that they will find a market for it either.
- RGS Energy and Dow Sign Exclusive License Agreement to Commercialize POWERHOUSE™ Solar Shingle
- Dow Chemical Sheds Its Solar Shingle Business
This stock keeps on spiking. I can’t believe I missed the buy yesterday when it started moving up.
Nice spike out of the gate. It’s really hard for me to buy those because it’s a chase.
Really nice dip buy opportunity a few minutes into the open. Not very easy to see where support was though. Decent spike but not as impressive as yesterday.
Pretty much tanked out of the gate. I was not watching it at all. Low volume so I wouldn’t have traded it anyway.
This stock is crazy. Every single day it spikes.
$SNCR (not on the list)
I saw this one premarket but didn’t add it to the list because it was higher priced and already moved after hours the day before. I actually managed to pull the trigger and short this one. I was wrong but I covered the position PERFECTLY. Entry wasn’t the best since it dropped a lot already and I kind of hit the bottom. Still though, I recognized it was not breaking down and I got out.
I watched only the chart for about 10+ minutes and was willing to risk off $13.53 - which was the high of previous big red candle. I stuck to my plan and didn’t get faked out by small bounces up to $13.52. I noticed it was uptrending a little and I got out before my risk level was hit which minimized the loss. It eventually shot up to $13.88 which would have been a terrible loss.
I had thought about switching to a long position like Jesse Livermore would have done. I figured I probably shouldn’t since I’m affected by the loss and don’t want to chase. I’ve done that in paper trading and it always resulted in a loss.
Based on the news there’s no reason to short it. However, based on what I saw in the price action, it presented an opportunity (shorting a potential bear flag).
As you can see from the chart the trend was clearly starting to change and no more dropping was occurring. All of the big red candles were higher than the previous red candles. It was forming an ascending triangle. I got out exactly 1 minute before it spiked. Perfect timing on my part even though I lost.
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.