Watchlist for the week of January 3rd, 2017

By January 3, 2017Pro Articles

Cemtrex, Inc. (CETX)

We have been tracking this and discussing this ticker in StocksToTrade Pro for weeks it seems like. Just keeps edging a little higher each day and holding gains. Nice close on Friday at just about the high of the day. I’m always looking for stocks closing strong and making new highs as potential swing trades. Keep in mind earnings just came out. I will only look to trade if the stock stays strong and continues to break out.

Cannabis Science, Inc. (CBIS), Medical Marijuana, Inc. (MJNA), Vitality Biopharma, Inc. (VBIO)

For weeks now, especially going into the holiday week we have been waiting for the “next move” in Marijuana stocks. Up to this point there have been many fake outs and no real trend. Perhaps now that we have moved beyond the low volume days between the holidays and into the new year they will start to get more consistent. Many times they have spiked a little and failed. All three of these closed pretty well on Friday. I included CBIS and MJNA as cheaper options though I prefer VBIO since the $2-$20 area is my preferred sweet spot price wise.

Synergy Pharmaceuticals Inc. (SGYP)

This has news due any day so be very cautious and size accordingly for any overnight positions. I will not hold long term or into the news event once a date is set. But I am very fond of trading up until events take place on stocks. NEVER hold into earnings or drug announcements etc. Goal on this is to target new highs in the $6.20’s with a stop loss back in the low $6.00’s with a goal of a multi day run. Then book gains before the announcement comes out.

NVIDIA Corporation (NVDA)

We had some killer ideas on this the last couple weeks, first locating this at or around the $100 break and riding it all the way to the potential target around $120. This shows the power of heavily shorted stocks hitting new highs. Almost every dip was worth a buy until the trend changed. At this point I’ll be watching this closely with the SPY. If the overall market is strong this week, I think NVDA can absorb these dips and continue higher in the short term.

Kate Spade & Company (KATE)

Top short watch of the week. I am very dubious of this buyout news. I wonder if it was all concocted to get the stock price up into the end of the year. Using these rumors and the Christmas season to boost the price of their shares. I will be watching this closely for fading action. I like to short stocks with previous highs as the stop loss area. Fading price and volume with no HARD news this becomes a solid potential swing short.

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