Stock Watch 1.21.11 ” The comeback kid”
Thursday looked like the market would finally start to sell off. I say finally because a healthy market needs sell offs and pull backs to create new rallies and we really haven’t got a nice pull back for a while. This market showed it’s true character by rebounding from -75pts back to +20 then finished – 2 pts. I love that kind of volatility. It’s been a good week overall so let’s trade them well Friday.
Thursdays trades. BLTI ( 2 trades +480 -40 ) MKND (+285) XOMA ( flat – commissions ) TTMI ( -50 + commissions)
Watchlist BLTI RPRX CBLI RNN OPXA FUQI
Previous watchers still in play: MKND EEE
BLTI
Numbers were in line with guidance but you would have thought they were monster numbers. Stock was up at one point 80%. Some of us played the breakouts in chat but it’s hard for me to buy stocks up that much in one day. Earnings plays tend to run for a few days so there should be some more ups on this Friday
RPRX
Got a monster pump in the afternoon and managed to hold on to it. None the less this stock is notorious for giving it up and I expect this to fade. Love to see an a.m pop followed by a fade.
CBLI
Just getting a typical bio bounce. Same as RPRX let the fade come to you and look for the short. Unless this is launching on volume.
RNN
This stock is total garbage. Look at the chart it always falls off a cliff. I ‘ve shorted this thing every few months for the last year.Take a look at last April. I hope it can bounce a little more so the short is worth it.
OPXA
This is a nice technical short set up. I tried to short Thursday but I couldn’t get shares, Maybe I’ll be able to locate some tomorrow. Looks good for a nice fade
FUQI
FUQI is a routine player. It’s pretty consistent with it’s patterns. It’s been beaten down pretty hard as of late so this bounce may have some legs to it.
CBR
COCO
