Greek shipping stocks are in play again.
Huge short squeeze on Friday. It crashed into the close so it might be over. Insanely low float. The other shippers ran as well almost at the exact same time. They did not squeeze as much and weren’t as crazy so they could have worked well with less risk.
Shares outstanding: 0.17M
Starting to go in premarket. Possible support near $0.72c (prior close). I’m not a fan of this stock due to its low price. I’ll watch it and see if it sets up nicely.
Shares outstanding: 7.92M
Possible multiday breakout over $4.80.
I miss every move on this stock. On Friday the high was not above Thursday so it could be the back side of the move now or it could be setting up for a bull flag.
Earnings. This stock has had so many ticker changes: $COFF, $COFFE, $AMHN, $AMHND. Seems pretty strong premarket but not a lot of volume and terrible spreads. It’s selling off pretty hard after that spike so I probably won’t watch it.
Waiting to re-enter at $10.80 but now it’s up to $11.25 so I don’t know if I could get back in that low. $11.00 was huge resistance for a few days so if it manages to tank there it could be a dip buy.
Up to $12 now. I got in and out too soon. Assuming it’s still strong near the open, I plan to trade it in IB. This is very good news. $12 seems to be resistance so potential buy over that level near the open.
Plan is to buy over $12.00 and sell into $12.30 or $12.50.
I watched $DCIX and $TOPS squeeze like crazy and get halted multiple times. If I had bought $DCIX it would have been legit gambling since everyone is buying and causing the price to go up sharply with no pullbacks. It’s either a big win or a big loss.
$AMD broke $12.00 before the open then sharply sold off down to $11.65. Unless you bought the premarket dips or shorted near the open there was no easy play.
$XNET is kind of dead now. No big spikes after hitting a support level.
I watched $TXMD consolidate around $6.40 and saw it reject off $6.70. I knew $6.70 was significant because of how long it tried to break through. When it finally did I bought on the bid at $6.74. I held through a tiny pullback and got out at $6.84 when it was rejecting off $6.85. I wanted to sell in the $6.90s but there was too much resistance. I didn’t really expect to trade this one because it sold off so much during premarket.
My initial plan was to buy at $6.45 and sell into a high of day break but I was too slow on pulling the trigger so I waited for the actual break.
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.