Looks to be another “Shippers gone wild” session. If you are new bring up the chart on DRYS and all the other shippers from a couple weeks ago. Do I think that they will repeat those moves, NO, but do they have a great potential to rip today going into the weekend created a “classic” Friday short squeeze, yes. That being said, others on watch, but my focus will be DRYS and other shippers.
DRYS – Same plan as yesterday looking to buy HOD’s with set risk
What is the definition of “Set Risk” if you have not watched check this out: http://stockstotrade.com/strategy-session-11-25-2016-risk-management-and-postion-sizing-using-the-chart/
AKAO – Still short bias, ideal crack under $14 with risk on $14.00
PIR – Weak open red to green, goal, new highs.
CBIO – Watching for a break above $1.15 with risk at $1.00
EVOK – Total POS stock, but it has “the recipe” low float, former runner, news catalyst etc. Need to see this closer to the market open, but would consider trading over/under $2.00
INVN – Still tracking this “swing” setup from the weekly watchlist.
Other Shippers: DCIX, SHIP, ESEA, SINO, TOPS, GLBS, GNK,