Watchlist - 11/07/2017

Selecting Stocks and Analysis


Greek shippers are still hot. It’s important that the breakouts occur during regular market hours and not during premarket. If it breaks premarket, the momentum may not be as strong at the open.

$MYO

I saw this up a few days ago but ignored it due to choppiness. Earnings came out after the close yesterday. Big spike after hours. Long term chart is pretty bad. Possible resistance at $7.75 and $8.40.

Float: 3.25M
Short: 2.09%

$XNET

Huge drop yesterday. Up 24c during premarket so it might bounce. It may have some support in the $8.50s.

Float: 64.01M
Short: 0.06%

$TOPS

Very strong into the close yesterday and ran more after hours. Possible support at $1.70 and $1.50. Watching for a possible breakout over $3.00 near the open. Looks like a head and shoulders pattern on the one minute.

Shares outstanding: 7.92M

$TOPS 1 minute candles (head and shoulders pattern)

$HMNY

Spiked off the bottom into the close yesterday. Held its gains after hours and so far during premarket.

Float: 5.85M
Short: 29.74%

$VRX

Earnings beat and huge spike during premarket. Not a penny stock so it will trade differently. Long term chart looks pretty bad. Possible resistance at $13.00, $14.80, and $16.00. Premarket resistance at $13.65 / $13.67. Buying over that level near the open could work well.

It just broke during premarket and is up to $14.02 so far. I probably should have bought that breakout but I’m still wary of premarket trading and how annoying it is to set orders to buy during extended hours.

Now I’m watching over $14.03. Sell into $14.50 or $14.75 depending on its strength. Risk $13.80. Risk/reward potential is good but I do not like to trade stocks that can move down quickly and trade in like 10c increments up/down.

Just broke $14.03. Hard to justify trading this one now. I’ll just wait for the open and see what it does. If it keeps breaking out that’s usually a good sign of strength.

Float: 343.63M
Short: 10.31%

Watchlist Review

I missed the dip buy on $VRX so I didn’t chase the high of day break. It got kind of choppy and weird up at that level so I didn’t trust it. It was good because it sold off sharply from $14.15 to $13.85. I almost bought on the second high of day break but it was just so hard to trust after that big drop. I didn’t want that to happen again. Turns out it would have worked decently but it’s such a big float that it’s hard to read. If I bought the dips near $14.00 I would have been more comfortable with it.

Almost bought $AMD at $12.13 since clearly today it has some strength. I just don’t want to bag hold it in IB so I decided not to. It’s choppy and hard to tell what it’s doing.

$XNET ran today but I wasn’t watching it and wouldn’t have been able to buy anyway since it spiked immediately.

$MYO dumped at the open with god awful 20c spreads. I kind of liked the dip buy at $6.30 but I looked at the spreads and they were too insane. A bottom formed at $5.60 but it’s too illiquid for me. Got up to $11.40 off the bottom. More than $5/share of upside. It even got halted on the way up. Wow! I see no news except earnings and the shareholder letter.

AMEX HALT MYO.A ADDITIONAL INFORMATION LAST 7.020000

This is where having good charts comes in. In TWS it looks extremely choppy and illiquid, but with thinkorswim it looks OK. I marked the support level to buy near. Risk a breakdown of $5.60

$MYO 1 minute candles

$RLOG was pretty crazy and got halted. It’s low priced though so I can’t make that much on it unless I buy 1000 shares. I’m not ready for that just yet.


All of the shippers were kind of sideways today except $RLOG. Nothing that great this morning except $VRX for the dip buy. I’ll eventually get the hang of that pattern which is immensely more profitable than buying high of day breaks. I’d just hate to chase it after I notice it’s the bottom, but if it’s going then I guess not getting in at the exact bottom is fine. The closer you buy to the bottom the less dollar risk there is.



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.