Watchlist - 04/09/2018

Selecting Stocks and Analysis

Massive dump into the close on Friday for the entire market. $SPY and $VIX are just kind of sideways at the moment.

I signed up for the $8.88 5-day Trade Ideas trial. For the standard option it’s cheaper than STT so I’ll see how well it works.


$CASI

Broke out on Friday. I actually removed it from my watchlist since it seemed dead the previous day. Possible support at $6.60.

Float: 27.36M
Short: 4.77%

$TRPX

Very choppy long term chart. Seems to have spiked on cannabis news previously so it’s in the pot sector. Possible support at $6.00 and resistance at $7.20. Also under SSR.

Float: 2.65M
Short: 3.65%

$GOPH

Held up pretty well on Friday. Watching for a morning panic.

Watchlist Review

Kind of a boring day.

$CASI followed the market when it was panicking and had an OK bounce. Spreads weren’t very tight.

$TRPX sold off almost immediately like most biotechs.

$GOPH had no panic and seems to be slowly uptrending.

$FUSZ seems to be getting pumped because it keeps going up every day once again. This will be on watch tomorrow for a morning panic. Looking at the daily chart this definitely looks like the “dead pump bounce” pattern. If it has legs and gets over $2.10 on volume it’ll be a breakout; otherwise it should go back down to < $1/share soon.

^ up to $1.77 now. Has to be getting pumped.


I heard about an “opening range breakout” scan and decided to make one for thinkorswim. I Googled around and found this which plots the opening range for the first 15 minutes. I modified it a bit in order to work with the custom scan filters.

I’ve seen this strategy work several times at the open where the stock puts in a high, drops a bit, bounces back, then powers through the high of day and keeps going. An example of this would be $ABEO from today.

thinkorswim does not have the best scans since they’re delayed and don’t update super quick. This particular scan is only useful within the first 30 minutes of trading.

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input begin = 0930;
input end = 0945;
def active = if secondsfromtime(begin) >= 0 and secondstilltime(end) > 0 then 1 else 0;
rec ORHigh = if ORHigh[1] == 0 or active[1] == 0 AND active == 1 then high else if active AND high > ORHigh[1] then high else ORHigh[1];
plot scan = high > ORHigh and high from 1 bars ago < ORHigh;



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.