Weekly Watchlist for 1-17-2017 $CENX, $NFLX, $ARRY, $ETRM, $TBIO

By January 17, 2017Pro Articles
Century Aluminum Company (CENX)
 
Strong stock that we have been tracking for quite some time. Perfect example of a whole dollar/half dollar type trade we discuss in StocksToTrade Pro frequently. Great chart to swing over multiple days and for traders of any level, provides very clear support and resistance as it moves higher over multiple days. I also recommend this as a very good chart to review. For years and still to this day I will print charts and draw support and resistance levels for trading real time as well as future reference.
 
Netflix, Inc. (NFLX)
 
Normally I focus on new stocks each week, but this was mentioned as a longer term investment and it performed well last all last week. Pretty much ground sideways but then a very nice last couple days of the week. I really like the close on Friday basically pushing to weekly highs. The chart broke out of the $134 level from earlier this year. I will be watching for dips against that price for a continued move higher. Pricey stock for sure, but another great example of even if you do not trade them, great ticker to watch and either Paper Trade or just trade to see the possibilities. This could be a very solid buy over weeks/months going into this very active stock market year.
 
Array BioPharma Inc. (ARRY)
 
This stock was first picked up as a short term trade LIVE in StocksToTrade Pro on Thursday. We hold weekly mid day Strategy Sessions, and the idea on ARRY was to buy the $10 break. It ended up being an almost perfect entry and this stock never looked back after that. Pushing to new highs after hours on Friday almost hitting $1.50+ in per share profits after the Thursday entry. The plan early this week will be to watch for dips each day, and then a “Weak open red/green” move. This is another setup we discuss in STT Pro frequently as we build daily trade plans live.
 
EnteroMedics Inc. (ETRM)
 
At this point this looks to be completely dead and heading back to single digits in the short term. I like to pick a short each week, though keep in mind shorting is dangerous and has a lot of pitfalls. If you refer back to last week I thought this could have one more spike and fail. Which it did early in the week. Currently the market is so strong that I focus on shorting infrequently and if I do only on a day trade basis. But if you are a longer term short and like to hold multiple days. I think this is a GREAT opportunity for a swing short sale.
 
Transgenomic, Inc. (TBIO)
 
I actually was proven wrong on Friday, I expected a much bigger run, and while it did gap up overnight Thursday it never ran like I had thought it had the potential too. We have seen similar setups like this really get crazy to the upside. I’m thinking perhaps the market was just a little fatigued and many traders just didn’t get behind this one. That being said I’ll be watching dips for a continued squeeze. So many shorts on twitter an other chat rooms bashing this. The float is not as small as initially thought, though it still has most of the ingredients for a “low float runner.” I would only look to buy this into strength though, if it opens this week without strong price action, it will probably fade away. Keep your eye on the big gainers scan for this though. If it goes it will accelerate quickly. BUT very risky setup, for sure the most speculative on this list.
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