The overall market has been getting hit pretty hard thanks to some news about tariffs / trade war. There have been a few volatile stocks getting halted but otherwise I haven’t seen anything particularly easy to trade recently.
$SPY is climbing in premarket but it kind of did that yesterday then tanked.
Getting hit really hard and even cracked support of $9.70 on Monday. I’m planning to build up a ~400 share position as it goes lower. I feel this dip is a bit extreme and the prices are too low to pass up. This price region is around where my last add was in OptionsHouse a year+ ago. I’m planning for it to be a longer term position but since I’m using IB I can slowly add without getting destroyed by commissions.
As the market gets weaker the VIX ends up spiking. If the $SPY cracks $252.90 there should be tons of volatility.
Earnings. It looks like it’s above all resistance levels from the past year. This stock has done splits before so it’s not that great.
Possible support at $5.35 / $5.80 / $6.30. I’ll watch it for a huge morning panic.
Fast track designation. Seems like most gap ups tend to fail.
- Proteostasis Therapeutics receives Fast Track Designation for triple combination program in patients with cystic fibrosis
Earnings. I was watching this one yesterday and it was an extremely slow grind to break over $3.00 then exploded 25c. This is a Chinese company so I’m not sure how the tariffs will affect it if at all.
I basically caught the exact bottom on $AMD at $9.05. Unfortunately, I sold it way too soon since it looked like it was going to roll over with the $SPY and I wanted to re-enter even lower. I should have just held it and added lower which is what my plan was. If it had outright tanked I wouldn’t have sold but instead it spiked a little then got choppy. I didn’t want to have a winner turn into a loser.
I tried not to watch it but that’s pretty difficult. At least I now have the experience.
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.