Description

My basic trading philosophy can be summed up by one simple quote:

"Trade the ticker, not the company" - Nate Michaud


Wednesday, February 26, 2014

Watchlist for February 27, 2014

Oh my gosh, this OTC market is absolutely insane right now! It's one of those rare periods where there is almost TOO much happening to keep track of! Tomorrow I'm going to try to focus on my favorite 3-4 setups to play right out of the gate, because if I try to nail everything, I'll probably get flustered and mess it up! Please, everyone, review this post to learn how to build these watchlists yourself. I don't intend to post them very frequently! To encourage a little self-sufficiency, I'm just going to post tickers and charts tonight. See if you can anticipate what my plan with each is and the ideal play I'm looking for!

Main Watches:

FNMA:

NVLX:

PTOG:

ELTP:

ONCS:

Keeping on Radar:

WPWR:

CANN:

PHOT

MCIG


Disclosure:
Long 45,000 shares of FNMA from $4.44ish
Long 600,000 shares of PTOG from $0.0344
Long 50,000 shares of NVLX from $0.394


13 comments:

  1. thanks for FNMA man!!!! great call!!! got in at 3.63!!!!! i am always reading your posts!!! im TIMs challenge stud..

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  2. I will take a guess at your thought process:

    FNMA - closed near HOD on very strong vol. Positive news AM. Likely huge gap up.

    NVLX - closed right at yesterday's highs. Over-extended chart, and vol is decreasing. Would consider getting out if morning gap.

    PTOG - closed at 52wk high and HOD on volume. Possible continuation?

    ELTP - second day of wide positive candle. I was long this stock early in the day thanks to your watchlist yesterday. Vol strong, and closed near HOD, look for continuation.

    ONCS - unsure what to think. The stock pretty much spiked up in the morning and spent rest of day sideways trading. Would appreciate your thoughts on this one.

    WPWR - pumper continue to boss this ticker. Buy on any morning weakness but don't hold overnight.

    PHOT - weed stocks seem like they are picking up some love once again. CNBC lunch time discussion and 2 hours special tonight will garner some attention. Nice candle reversal yesterday and strong close today. Look for continuation with $0.41 as resistance.

    MCIG - unsure what to think. Please enlighten.

    I would appreciate if you can kindly point out areas where I'm completely off.

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  3. According to stockcharts PTOG closed at 0.0395 today. I am wondering how is it possible that your chart shows it as 39.5 Should be some TD Ameritrade special function I suppose or perhaps there was a reverse split ?

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    Replies
    1. The chart is just missing a couple zeros for some reason, the price is still $0.0395. TDA just is being goofy

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  4. Based purely on the charts, I'm guessing:

    FNMA - Sell into gap up/morning spike. Possible Short g/r snap or big morning spike
    NVLX - Sell into gap up/morning spike
    PTOG - Sell into gap up/morning spike. Possible Short g/r snap or big morning spike
    ELTP - Short big morning spike or g/r snap
    ONCS - Short big morning spike or g/r snap
    WPWR - Short big morning spike or g/r snap
    CANN - Buy intraday high, preferably in the arvo.
    PHOT - Buy b/o @ .467
    MCIG - Buy b/o at 0.4

    Was I close? :)

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    Replies
    1. I disagree on ELTP, but otherwise pretty much on the same thinkings as you

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    2. what is your thinking Chris...

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    3. Hey Chris, yeah I see your thinking and I do agree - I'd always consider going long if price breaks a morning high in the afternoon. I should probably mention I've only been studying the strategy since November so I'm still in the learning phase.

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  5. My guesses:
    FNMA - Stock has gapped up for the last three days. So sell after likely morning gap up or into morning spike. Stock pulled back 50 cents this morning after big morning spike and went red on day before recovering. Thinking you would be more likely to short a spike then a g/r snap in case it recovers.

    NVLX - This one has gapped up too, even the day it went red on the day. So sell after morning spike. Possibly short on g/r snap since as opposed to morning spikes, since there has been a lot more downside on this stock that way based on past few day intraday charts.

    PTOG - Guessing your going to sell into morning spike since it's unknown if there will be a sizable gap up since it broke out today. Stock is up 133% in one day, so I don't know if you rebuy something like that tomorrow after a possible afternoon breakout of the morning high? If so possible sell into the close? Don't know about shorting into a big morning spike as it only retraced 2 cents before grinding all day till the afternoon breakout. Short g/r snap.

    ELTP - Based on intraday i'm guessing you would short a morning spike since there has been some decent downside on the previous days. Short a g/r snap. Don't know if you would buy an afternoon b/o since its so overextended, but chart looks similar to NVLX when you bought the first two times so who knows.

    ONCS - short morning spike or g/r snap due to overextension.

    WPWR - guessing you would short a big morning spike over a g/r snap since it went red on day today but recovered and ramped back up to close strong. However probably still short g/r snap and hope it gives you 10 minutes of deliberating/bottoming if it decides to go up. Doesn't really seem to be any great morning high that allows to buy an afternoon intraday b/o.

    CANN - only parabolic one day so far. Guessing buy intraday b/o in afternoon, possibly sell into close if it b/o's early enough like it did today (1pm)

    PHOT - buy the b/o of previous high at .467

    MCIG - buy the b/o at .40. Hope volume picks up since it was a little less today then yesterday.

    I know this is lengthy, and I hope not too lengthy that you don't read it. If i'm way off on my guesses can you tell me? Thanks! these are super helpful FYI

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  6. Nice to see you trading long again Tim. I have one ticker on my watch list that's on yours. I'm only looking or trading 2 set ups at a time regardless of what the market is doing trying to keep it simple. Cant wait to see how our strategies compare on the trade.

    Thanks

    SmallTime

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    ReplyDelete