Free Scan Sunday: Stocks to Watch for Monday April 13, 2020

by | Apr 12, 2020

What an amazing turn out yesterday! Over $135,000 Raised!

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First and foremost thank you to all the speakers who spent their day helping us put on such a successful event. Thank you to all those who showed up, listened, interacted and donated to the cause. Big or small it doesn't matter, it adds up and makes a difference. The trader who showed up and donated $5-20 bucks who thinks it was "too small" made a bigger difference than the one who just lurked and did nothing at all. Kudos to EVERYONE who participated.

This was a game changer for Traders4ACause and the entire team & board is extremely pumped up for what's to come.

Yesterday and just about every day in the room I talk about setting price alerts to not forget names off radar so rather than have a huge list of names to trade tomorrow I'll look at the range, channels these names are stuck in and alert myself when opportunity is knocking.

Price Alert Names: MRNA NVAX WING CHWY

Video Topics:

  • UNDERSTAND LIQUIDITY for some of these names! When it's there when it's not.
  • Volume trumps all
  • Be aware of trends forming

Video Scan and Game Plan

Stocks to Watch

MFA higher the better will watch with the rest of the mortgage names listed towards the end of the scan - looking for relative strength and relative weakness vs. their peers. It's been

CCL has been a great profit center the last few days but need to be aware if the liquidity dries up a bit and starts to tighten trend. Be aware of getting too aggressive between top/bottom of channel

APA killer trade Friday, watching w/ the sector and looking for opportunity vs. peers. Will keep an eye OXY USO among many others.

Failed Follow Through:

MBRX still short from Thursday sized in more on Friday and covered around the core short from Thursday parabolic at open. Good chance this fades off everyone's radar soon and fades back to where it started. In a perfect world they have another PR to get some action again but in the end fundamentals will win.

ICD higher better - great opportunity in the room Friday letting it blow off all the stubborn shorts and attacking the back side of the trade. Rare opportunity, wild range and $5/share moves on what was less than a $5 dollar name to start the day. Good avoid for new traders in my opinion. Will look for a T+2 trade on Tuesday/Wednesday.

BAC starting to break out of range without much of a correction. Higher better and looking for failed follow through (think back to APA on Friday on the stuff near $10 that I went over)

OXY higher better watch with sector.

Continuation Ideas:

PSTI no position at the moment I was over night on Thursday as I tweeted from a $4-4.40 average based off the volume analysis I went over yesterday during the presentation. It should up a quick $2-2.50 pre market and I locked in -- hit over $8+ pretty amazing. Not sure it's an "auto short" yet - yes I will look for the fade back eventually but I still think folks are a bit aggressive on the short side and we may hang around a few more days than most think. Would trade weak open r/g type move.

AKER going to set price as noted yesterday - look left, realize the volume, potential liquidity trap formed. Need to be confirmed $6-6.50 and $7 trigger. ASSUME it fails to be safe, currently have starter position just not to forget but LOWER the better assume fails until proves otherwise.

NLS weak open and $4 is a BIG level - fantastic idea by Stapes the last few weeks in the room.

TLRY been swinging this as noted may not look like much on the chart but it's been a big one. Still have a position would love to see pot names get some legs up but if not, will move on on the rest. Basically been trading weak opens and selling rips around the core swing noted last week.

Retail Fails:

KSS higher better - watch with the rest of retail find your price range that works for you.

BBBY great fail on Friday was short into the failed follow through - be patient not every day will have a trade. Look for over extensions, break outs straight up trend w/o consolidation for opportunity.

M same as the rest - top 3 names I'd trade I'm sure I'll find more and look for relative strength/weakness.

Mortgage Types:

Don't need commentary for each one here. They're all the same in my book watching for edge or relative strength vs. peers ie: LADR on Friday vs. all the others. Each one was unwinding through the day but there was a steady buyer all day LADR if we take a leg up this one may out perform.

There are more than these to watch but best to make a list of your favorites and price range:

BXMT PMT LADR XAN MAC TWO

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