We had another down day in the markets and the day trading environment for the long side is challenging but there are still opportunities out there. Yesterday we took $ABIO off the open scaled out half on the spike and then I held shares nearly the entire day for an EOD pop. That pop turned into a fade and I scaled out the last half for a 1 cent gain. It wasn't a home run day but it was a solid single.
One of the most important things you can do is recognize your emotional roller coaster you can use those emotions as a red flag indicator. Learning to take action not based on how you are feeling but taking the action that makes intellectual and financial sense. When I start thinking I am a genius in a trade that usually is when I take money off the table. I look at stock charts as emotional maps. I try to identify with how a person would be feeling emotionally if they were a long term holder and often times that leads me to some pretty amazing opportunities.
Protecting your capital is the number one goal. If you have a plan , keep your emotions in check and stay disciplined. The likelihood of you being a successful trader will be far greater.
Morning movers and other stocks that caught my eye
$PLUG continuation?, $CBMX careful with this one it can be a pop n flopper wait for a setup, $ACHN moving a little premarket decent daily , $IDRA continuation?, $CALI is flyin it also can be a pop and flopper, $LIVE pr decent daily, $ISS pr china company daily not bad, $ARIS new nasdaq listing from OTC, $DYAX pr,
Shippers could be in play again
“Carry overs” are stocks that I have featured in prior videos, have on my alert list or tagged on my morning mover lists that still have a potential setup working or developing on the chart that may be actionable. They are still on my radar and I am either already in with a swing or I am looking to enter on a breakout. I am also looking for the setup to breakdown at which point it will discard it from my hot watch list. If I am already in it with a swing I am looking for a place to scale out or exit the trade and on rare occasions I may be adding to my position. Typically I like to sell into strength
$ZLTQ, $USU, $DRRX, $MERU, $IDRA, $STXS, OFIX, $OVRL, LIOX, $MPAA, PRTS,$SBOTF, $OMCL, $BBRY, $AMPE, $ONCY, $HZO, $ATRM, $PVG, $PTIX, $GST, $GRO, $ROX, $PACB, $ZGNX, $KGJI, $RNA, $OESX, $SFXE, $TGS,
$SVU, $QTWW, $UNIS, $SCON, $DXLG, $ROSG, $GALE, $KNDI, $NAVB. $IMMU,$CTYR, $NBY, $GPT, $GEVO, $DVAX, $ALDW, $MEA, $CERS, $VRNG, URRE, $PRAN, MHR, $ETAK,$TASR, $IMMU $EXTR, $ONVO, $TASR, $ARIA $IRDM $CHTP $TROV , $GNVC, ABIO
Potential swings and recent starters
$JBLU, RAD, $SIRI, $AMD, $HLS, $ASX, $ALU, $NOK, $CGEN, $FSS, $SMCI, CY, $GRPN $MGM, $MNKD
Good luck trading today