Watchlist for 11-7-2016 $GRVY, $FEYE, $AMMJ, $CNAB, $CNBX, $UBNT, $ARRY

By November 7, 2016Pro Articles
Well we called that, crazy overnight news and market rip. This list is a little “forward looking” just two more days to get through this election madness. I will continue to be VERY conservative the next couple day. 
Gravity Co., Ltd (GRVY)
This is up so much so trade VERY cautiously but I think there are still many stubborn shorts in this. Considering the market conditions I think this can continue to push to $16+. Again, big range so trade small and stick to your plan
FireEye, Inc. (FEYE)
The plan on Friday was to try this long based on earnings. Once it failed and rolled over I’m now short bias. In a market like we have now if earnings winners can’t get momentum day traders and other short term traders are going to rotate out pretty quickly. Top potential short watch this week.
The plan continues on the marijuana stocks. Keep in mind as I’ve discussed I don’t believe in the prospects of ANY of these stocks, but if there are several positive votes around legalization these are my top 3 favorites. I’m thinking the election will really get these going since I assume most votes will be positive around legalization. If not we will move on to other sectors. We’ve done very well on these  over the last couple weeks.
Ubiquiti Networks, Inc. (UBNT)
This is a company and sector I believe in and solid earnings and future prospects. This is my top “swing” trade for the week. They actually have some very impressive products and technology. I recently had my internet speed quadrupled thanks to their technology. Watching for push through $54 for potential day/week hold.
Array BioPharma Inc. (ARRY)
We picked this up late last week and looked to trade it more on a multi day timeframe. Tough to hold swings in this crazy market, but decent grind up. Volatile so use small size if you choose to trade it. But a reclaim of $6 could get this moving quickly.
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