Very solid short setups from last week in SGY and AKAO. Also MSFT continues to slowly grind higher per the plan for a longer term hold. The other two tickers from last week did not really play out, but to be expected not every idea will work on a weekly basis. Three solid potentials out of five is not a bad ratio. Also check out INVN from two weeks ago, we discussed it as a potential trade based on the buyout potential, very seldom do these rumors come true but in this case it did!
I go over the introduction of all the main features as well as a brief tutorial on how to setup a basic config of StocksToTrade. Also how I locate some of the best stocks to trade each day as well as basic screeners and setup to get you started being self sufficient on the platform. I think it turned out well, if you have an hour please check it out!
NVIDIA Corporation (NVDA)
Higher Priced stock, but it seems many momentum and day traders are shorting this. I’ have yet to find any reason to be short this stock. Often short sellers get in the “its up so much it has to come down” mentality. This can often be a great buying opportunity. Each time this hits a new 52 week high I consider it a possible swing trade. With the anticipation it could really rip higher when the biased shorts finally give up and stop out.
Weight Watchers International, Inc. (WTW)
We discussed this extensively in StocksToTrade Pro last week.
Interesting timing of the promotion with Oprah around the new year. Everyone knows that the standard is for a majority of people to look to lose weight and change other habits based on New Years Resolutions. Oprah is an investor and her media reach for sure has the ability to move markets. We got a good pop on this last week but it failed to break that key level at $12.50 We will be watching the STT News Screener and that key level each day this week for a potential break out.
Conatus Pharmaceuticals Inc. (CNAT)
Big rip on recent news, then a drop, I like the technical hold of $4.00 area. This stock is only a trade if it can hold that area. Ideally a base in the low $4’s then a followup catalyst based on news and this could rip to new highs. Keep in mind, no news and a crack of $4.00 this becomes untouchable. These stocks can be explosive, but you need to make sure the whole recipe is complete.
Portola Pharmaceuticals, Inc. (PTLA)
Friday’s crazy ripper on solid news, I chose not to trade this stock because of the very low volume in the markets leading up to the holiday and doubly so on a Friday. Though in hind site that was overly cautious. Good chance this could be a stock that bases higher day after day. I will be calculating a plan each day to look to buy into dips with set risk. I would not look to buy breakouts since it could roll over in the short term.
Globalstar, Inc. (GSAT)
This was halted Friday in anticipation of the news around their filing acceptance. Most assume this would be very positive for the stock, but after the news came out and the stock resumed trading it appears the market was either unimpressed or the ruling was already priced in. Lots of traders stuck in this assuming it was going to run off the news. Considering the failed breakout I will be looking to short this on any pops to the $2.00 level with stop loss set at the $2.20 breakout area.