Free Scan Sunday: Stocks to Watch for Monday December 23, 2019

by | Dec 22, 2019

As I always remind folks — my plan is to never trade 15 names. My plan is to stay familiar with names so that when the moves happen I’m that much quicker. Had I not had LAIX on scan Wednesday/Thursday I wouldn’t have given it the time of day that I did right off the open move on Friday. I wouldn’t have known to ‘care’ about it. That’s the beauty of getting a good feel for what’s going on out there.

As far as my morning routine each day I grab the microphone at 9AM and bring my list and focus to TWO MAIN focus names but over all typically 3-4 that have my attention off open.

Then I set price alerts with our in house live price alerts system which push through the chat room on the ‘secondary’ watches.

For example: LAIX opens so so on Monday I’m not going to care off open potentially — so I will set my price alerts to alert me $7.80, $7.50 downside and $8 and $8.20 upside. Then I don’t need it on radar and my system will just yell at me when it’s time to care.

Reminder – half day Tuesday and of course we have Christmas off.

Here’s the game plan for Monday:

Video Scan and Game Plan

Stocks to Watch

LAIX pretty nice idea from scan and early Friday – the $4 break was the key came back consolidated and then ripped. Crazy doubler intraday. Should provide a few bucks here – closed relatively strong may have a weak open rally back $8.50-9 maybe go $10-12 before it’s done. Otherwise gap up, shove watch for some newsletters to keep buying the top trying to shove it into more halts and then wait for the sheep to come out ie: SYRS trade posted Friday.

MRNS morning gap and shove I’d look to fade off – thought is this likely needs to consolidate for a bit before next leg if it’s going to happen. Pretty good volume over all so should continue to have some good action near term. Clean trade off VWAP on Friday looking to do the same this week if it continues to hold a higher base.

RAD you know when you know and it still doesn’t matter? I had every intention to get long but for some reason I just didn’t get there – more than likely it was related to the LXRX trade that was taking most of my focus off the morning. What I did know was it was heading higher, and not to under estimate the dips that it was likely going to do a few extra blow off moves, so as you saw when I posted the trade (and video recap) I waited, and waited and then attacked the back side cautiously. Weak open I’d be looking for more on Monday – but in the end this has been a HUGE move so I would be VERY cautious getting AGGRESSIVE if you nail the trade b/c I think it’ll offer a nice either weak open and rip then come back and consolidate or a gap up shove – great short trade and then grind back to where it was. In other words – I think we are going to channel for a few days before we have the next move.

LXRX higher better $4.50 + blow off and ideally we come in. I’m not thinking we get anything crazy but ideally $4.50 to $3.80 or something near term – it’s been pretty well tested over the last few months. Buyers are very much there every flush it’s had. I think we may have another fade opportunity but like Friday I am going to cover on the flushes.

FTSV looking for a trade like ARWR – note how the chart looked good and then closed at the lows? these things are tough though, if you nail the trade in bio you’ve gotta be on the cover side / sell side before it does a random reversal as of late.

DTIL came apart at the hinges hard and fast flushed out and now is in rally mode – it reminds me of CLVS type action. Don’t underestimate the squeeze/flush or rebound same things I said on CLVS. But – it offered a REALLY nice unwind after the squeeze stopped — same thing here. Focused, patience and don’t underestimate that pull back day.

SAVA up big AHs, insiders soaking a bunch – they chased it WAY up, thinking we may have an opportunity $2.80s-3.00 chasers for a fade back on $2.50 – just a “little” bit aggressive despite the solid size of insider buys.

TRIL watching all dips – possible big picture idea here towards $1 and then some.

HOOK was another big picture idea recently, volume pretty good – if it starts to firm up over $10.50s vs $10 can be a quick 20-30% move

PNTG higher better – just starting to monitor this I will set some price alerts to not forget – reason why it’s on scan? The volume candle.

RAPT worthy eye off dips – could be one of the next $30 breka out $35-40 and craziness type so candles given everything we’ve seen lately.

TA reminds me a lot of RAD just w/o the volume – not necessarily a trade here but something to remember for next time when it pulls back, we get serious volume I think we could get a really nice trade.

HOTH big picture idea setting up here – first time volume since IPO 6 months ago. Watching vs. $5 – will do some brief research on Monday – again these scans are technical based by design and then I spend my mornings reviewing the “why” on some of these charts.

SDC good plan – Thursday nights scan was looking for the fade – looking for same again. Higher better and more unwind is goal.

SPCE getting stronger as it goes – tested it once Friday but it held pretty well so I left it alone after that – in my opinion big trade coming but let it squeeze out for now. The day it unwinds will be $1-2 we may get $11-12 + blow off in the meantime.

AKRX same plan – nice alert by T530 also ideas on scan the last few days to fade the strength.

MIRM $22 is your key. Every damn day it holds that level, I size in perfectly last few days but obviously want to be patient as it test that key level but no dice, they supported it. It’s been a good trade but minimizing looking for that crack. There has yet to be a real ‘cover’ here like I had said/compared to FTSV. So, cautious assume they want to rip it but the day they crack $22 we go $18 – slowly.

AKCA back side move potential – radar.

AMRN nice so far off the sell the news. Higher the better still think we can unwind sub $20s but not looking to force the trade. It was a nice trade for the first few days off the unwind but consolidating since. May take some time – consolidating / waiting for an edge.

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