BSDM
First up day of Supernovae scan return. Probably not done yet but it is possible we could see more profit taking from the bell, considering it closed somewhat decently off its highs. Box or wait for weakness cues to fade it.
GBG
Having taken 2, this could see more upward mobility, but a pull back entry on a hold of 2 might be the easiest route for the longs. Nice volume. If it holds above 2.13 I would consider a long as well. Closed on hod. As always, a fall below 2 is short bait in a situation like this.
YNGFF
Another gold related stock, this seems to be tiring out, even though the volume is still strong. Fade weakness, or a failed test of 0.60 while a 0.60+ and holds is a long.
MJNA
Tweezer tops on the daily, the stock advanced but is getting that over extended look rapidly. Short weakening cues if they arise. Less desirable but possible is a long on a take and hold of 0.18+, etc.
WAMUQ
Day trader stock involving the failed bank stock Washington Mutual, this is just under the March high of 0.23 at the close of trading today. If we vanquish that, this a long on hold/acceleration. A failure there is a short entry. We may either gap up over the March high or open flat, which would be a good sign for the bulls. I would prefer not to open under the close of today for a short, (possible quick red to green) but want to see instead a test of the March high that fails for a fade entry. So, there are more scenarios for the longs here short term.
HAUP
Lately this has failed to build upon big up days, instead day 2 has been a downer and a good fade play. Volume is nothing special, so we may see that streak hold up again on Thursday. Possible early strength/spiking may give way as the session progresses. This stock can squeeze, wait for it to weaken first.
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2 comments:
Big T, I've been following your picks for some time and I think you;ve been doing great. Thanks for sharing.
What do you think about BSDM though? Did they really have FDA clearance? Do you think it's overvalued right now?
Josh, thanks for your comments and compliments.
Keep in mind that the herd might as well be a bunch of monkeys, in that they respond as a crowd in terms of what others in the herd are doing. If it spooks,(anxious selling to lock in gains) so do they in panic selling, while if it zooms, even more say "why not me?" even if it is already up 101%.
In cases like this with cancer news, it can last a few days, but usually not much more, because any stock up so much so fast invites profit taking, and usually the news is irrational exuberance tainted, once the euphoria wears off and people become practical away from the herd, etc.
Day 2 sell offs are common for such plays, BTW...
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