Free Scan: Stocks To Watch For Monday August 24, 2020

by | Aug 23, 2020

Well, I took my first day off of 2020 Friday!

Been pressing extremely hard this year given the opportunity but over the last two weeks I've been starting to feel a bit burnt like noted in the last Sunday scan. It's all finally catching up but along with a 3 month old there really hasn't been much time to breath.

I've been adapting REALLY well and still adapting in progress ie: AAPL on scan tonight LOL

I used to be super active in the mornings but since I have Aidan duty in the morning it's been a little tough. So, that said my goal in the next month is to up the cardio and get back at it in the AM - not just the 4 days a week with Zach. Sometimes when you write your goals out or verbalize them (just like with trade plans) - they come to fruition more quickly.

As far as trading - everything has been good but like I said on last 2 scans I feel a shift going on. The style of trade where my decent gains have come from are different than where I had been getting them on before. I've adapted to the current market. For example WMT is not a normal trade that I would have taken over the last 6 months but - it was this past week. Also, AAPL is on watch tonight - which normally is an avoid.

I've actually had three monster trades in the IRA over the past few weeks which I have actually minimized to about 1/2-1/3rd what they were. Not necessarily bad trades just over stays which I think may be related to market sorta shifting and me letting winners work for too long. I'll cover a little bit of that in the video tonight.

I would not take my prior thoughts as market is SLOW and opportunity is GOING -- not the case at all. Now comes importance of preparation and actually making proper plans. Every day there is great opportunity just like OPGN on Thursday, or GEVO you can start one way adapt but never forget #KnowWhatYouOwn as I hinted on Twitter Thursday -- it's not something you'd ever want to be over night on. Rare that they'd do an offering like that - especially that last at night but KNOWN possibility.

Video Notes:

  • Live your best life - work in progress for me: (GEVO offering = gift for FOMO / opportunity cost)
  • Current Market Thoughts
  • SELECTION
  • GEVO Thursday bias switch but o/n always #KnowWhatYouOwn
  • Stalk Prey - Pounce when time. Feel comfortable.
  • T-shirt Time
  • Avidity Fitness - Tuesday 6PM EST
  • Last weeks Sunday scan AVGR NMTR (doubler)
  • Trading junk is fine on the way up, when it turns ...
  • Sign of times: TRVN VVPR GLG IBIO IGC MICT NMTR

Video Scan and Game Plan

Stocks to Watch

RKT always like these types that have high volume pull back collect shorts and go. We've seen a lot of IPOs do this and even some SPAC's SHLL currently is doing it - obviously it took a bit longer than just a week to set up. That said, don't underestimate how far this can go. I'd be watching dips vs. $26s as the guide and expect that it can continue to squeeze out. The only way I'd be interested in the short side is if we have either 1) parabolic style move or 2) some type of failed follow through set up to join trend 945-10AM+

AAPL you know the market must be wild when this is on main watch LOL but the fact is much like WMT last week and TSLA etc - we are in insane times and if $2 Trillion + companies want to jump 5% intraday sure, I'll trade it. Much like TSLA these are both running into forward splits. There is zero reason to sell right because if they do they won't get the split shares. So, everyone is just holding tight, shorts covering and well, things are going wild. We may have two very MASSIVE trades post split. Doesn't mean that long term it's going to be the play (ie: if they pull back hard -- I could see them doing something like TDOC and LVGO - check those daily charts when they announced the deal). Everyone right now is buying for the split, and after it happens if it stops going up they will look for exits -- short term top, only to shake everyone out and head back up later on (with the market risk always if we stop going up to infinity).

SHLL I could see this setting up vs $29-29.50 for $32-35 + nice consolidation around $20s if you go back and think about SPCE and how some of these SPAC trades have worked you know the potential here. This could turn into a decent monster if trend keeps holding. In my eyes shorts are trapped.

Failed Follow Through Momentum:

MTP thinking .20-.30 + gap is unlikely but if it did happen I'd be looking for failed follow through momentum for fade back.

KIRK I'd only be looking for a fade if this open $13.20s + and fails vs $13.50s. This did pull in at close so if we have a weak open just be cautious getting too biased. I am going to set price alerts though for when people forget about this one and it fades off -- off radar. ie: PEIX

PIXY likely raise soon so that's the risk I think the volume was a bit crazy Friday likely just b/c of GEVO the day before. Higher better and looking to fade. Thing about this one is we may have a nice secondary move and squeeze if they don't raise Monday morning but it's good to #KnowWhatYouOwn nothing worse than getting caught in a midday offering.

PDD morning move towards $86-87 then fade of - cautious off open - take a look at Friday action just in case you are unaware what's possible on these China names. For me 945-10AM trend join if fails to follow through.

KEYS ideally push towards $98-98.50 ie: VWAP from Friday higher better and unwind.

PEIX finally pulled back post e/r post ATM squeeze etc. Higher better and unwind again $4.20-4.40+ for failed follow through. Could get into $3.80s or lower if pressure stands. Like mentioned in top of scan, sorta sign of the times things are unwinding a bit.

Continuation:

ANTE good follow up day after the high volume day. Going to watch dips vs $1.10 guide. Could have a secondary move and before we know it be testing towards those prior highs of $1.50-1.60 +

AESE $2.20 still the key level as noted in room Friday. Assume it's going to top make sure to lock in along the way and then can always re add if it firms up and proves.

HARP dips vs $15.50s - good volume on Friday will be watching to trend join on dips

IMBI has been a dip idea the last few days I haven't snagged any yet will be looking vs $7.50s

FLDM been swinging for a few days now, had it for a while from that first 60 mil vol day but had since sold it, re positioned over the last few days. Just looking to let it work big picture.

BIGC watch all dips - ideally starts red $1-2/share and come back. $73-74 as a guide we could see this retake and push on $80-85+

Staying Familiar:

Big Names to see once and be familiar with current levels: ZM CRWD DOCU FSLY BYND (note the consolidation along with ROKU below) COUP

2 Comments

  1. I love how big caps have the same kind of opportunities as small caps right now. Definitely time to stick to the trends and not be quick to short

    Reply
  2. Thanks for the info

    Reply

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