Recap for Tuesday March 3th 2015
Yesterday was an eventful day; lots of action for me: my overnight position on $RESN didn’t go as planned as it dropped in price, contrary to the expectation that it would spike in the morning. Additionally, I took 2 positions in $OREX, which initially resulted in a loss and then managed to recover my losses and some. Lots of stocks at play.
For my short list, $GENE and $EYES didn’t get the drop everyone is expecting; the price action was very flat and there was no significant movement. $BIOC dropped $0.5 on the day. $HMNY, $CYCC $DRAM had drops, but nothing significant or worth playing intraday. $ARQL actually had a green day.
For my long list, $RESN almost a $1 drop before retracing by the end of the day, $ABTL had a $0.5 increase, continuing the spike, but not as significant as previous days, $ZAGG ended the day in the red, so not really an interesting play either, $CHGG didn’t do much of anything.
Overall, yesterday has been a good day for me as I managed to almost immediately recover my losses on $OREX by analyzing the pattern and the previous behavior, even though I ended around -$20 on the day with my $RESN loss.
|This biotech stock is a $3+ winner yesterday and finally encountered some resistance at $9.10 before dropping down to the 8.70s on multiple occasions. $9.10 was retested 3 times before a major drop in price back to around $7.64 at close. Potential short if it spikes some more during the day.|
|The price may spike some more, possibly back to its resistance level at the $9.10 level before it is worth shorting. Lots of sqeezes on this play yesterday.|
|This biotech stock has been on the watchlist for multiple days. Price has been overexetended for a while but price action has not been kind to traders. Potential short every day|
|Very irregular stock, lots of traders getting burned both on the long and short sides. Trade with caution|
|Eyes is on its second red day after a $2 spike a couple of days ago, currently in the high $14s, may possibly revert to the $12 or $10 price point.|
|Shortable shares are hard to borrow on IB, lots of competition to enter this play as a short.|
|This is another overextended biotech stock as has been the trend laterly, lots of these plays going around. This is a potential short on a daily basis.|
|Shares are hard to find and the stock has also presented irregular price action.|
|This stock is a potential buy on price action. It had a favorable Seeking Alpha article that yielded no immediate results in price action, keeping it a relatively boring play; it later reached $10.94 from it’s $10.45 level.|
|Yesterday was marked by a big drop followed, by a recovery by the time it reached close; this stock might be boring today if price action and volume are not there to move it.|
$OREX $GENE $EYES $BIOC $RESN
OREX GENE EYES BIOC RESN