Watchlist for Wednesday March 4th 2015

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.

Today’s Watchlist

$OREX ATR Risk/Reward Support Resistance Rating Goal Bias
0.5114 1:0.91 7.49 $8.38, $9.10 ★★★ $0.5-1.00/sh Short
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.
$GENE ATR Risk/Reward Support Resistance Rating Goal Bias
1.6386 1:4.29 5.34 5.45 ★★ $0.4-0.5/sh Short
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 ATR Risk/Reward Support Resistance Rating Goal Bias
1.5957 1:2.50 14.59 14.78 ★★ $0.3-0.5/sh Short
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.
$BIOC ATR Risk/Reward Support Resistance Rating Goal Bias
0.7450 1:5.33 3.25 3.45 ★★ $0.3-0.5/sh 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.
$RESN ATR Risk/Reward Support Resistance Rating Goal Bias
1.8421 1:4.00 10.4 11 ★★ $0.4-0.75/sh Long
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.

Compressed List


XSLT Plugin by BMI Calculator