Free Scan Sunday: Stocks to Watch for Monday February 10, 2020

by | Feb 9, 2020

There has been a ton going on. Probably the first scan in a while where I am not gung ho on any particular names. There are definitely a lot of set ups but nothing that I would consider A+++ that I am READY, WAITING, STALKING for Monday.

I've got a few watches in each category ready to react but pre market is going to be very important to me on Monday.

January was amazing as we discussed but the first week of February had a lot of noise. A lot of noise that pulled me away from A+ set ups. Heck, TSLA was amazing my entries were ON POINT every time HOWEVER my patience and trying to make the trade something it wasn't really really exhausted me last week. Finished the week up well on Friday we had some crazy unwinds from big momentum trades HOWEVER I was feeling very exhausted by weeks end. Not how I typically feel.

What could I have done better? Well, to start - considering my entries on TSLA were insane -- perhaps have some wish orders out for covers? There was many times I had nailed $40/share and even $50-80/share -- no I am not trading crazy size it's not an A+ opportunity and snaps back like mad as I learned. Each time I was up -- for example $933 short held it ALL the way down to $850s Citron came out with a tweet I paused and 3 candles later it's $40 higher. Self admittedly I'm a stubborn trader. It's my weak point and I combat it every day. So, what did I do? Eh, I'll wait ... so major gain turns into minimal trade - what else is new.

Mostly frustrated on that one because I spoiled great trades and a huge opportunity but really zoned out of the trade by mid week got a good piece of MYO YTEN and BNTC.

MYO super expensive to swing was a good clean fader intraday - probably will be down 50% on Monday as they're close to raising in my opinion.

So, what's the easiest thing to do?

1. Take the crazy name off your watch AFTER you nail it once so that you don't get over confident and waste time.

Or - for most what worked well:

2. Don't even pull it up 🙂

Here's the watches for next week:

Video Scan and Game Plan

Stocks to Watch

CODX crowded short - likely right eventually but for now anyone who over sized the short helped create support Friday. They likely raise soon and I'll be looking to join that trade. Higher better and back side. Cautiously.

BNTC higher better was a pump on Friday low vol and I think shorts just got in there a bit early. Higher better pops into $8-8.20 + is ideal but unfortunately I think it'll gap down.

YTEN chart isn't working for me on here - but looking to trade it similar and even if it gaps down I think we can keep unwinding. Friday was great - long from Thursday and then shorted the newsletter on Friday once it showed to have stuffed the retail chasers hard.

MRNA clean trend dall day Friday I'd like to see this open $22.80-23s and then look for the trend join for r/g $24-25s + blow off.

Weak Opens / Continuation:

NLOK dips and re-test towards $21-22 + then look for unwind.

SLCA watching all dips vs. $5.80s for possible break out

BILI huge day Thursday and came right back on Friday. Volume is good. Kinda feels like LK before it exploded so going to be watching to see how it reacts each morning after 945AM + and if it starts to set up will position for continued break out. 945-10AM will tell a lot each day. If it acts heavy vs. that level - check Friday's move very clean. So two goals here - weak opens for r/g and set up for a bigger picture trade or 945-10AM + trend join (long or short) vs. VWAP as risk.

Gap Ideal / Failed Follow Through:

MYGN nice opportunity off the morning flush and then I over stayed on some of it. I think we'll have a trade Monday and Tuesday here -- and possible unwind to come. Each time they've saved it over and over again. Look at the last two gap downs. Do people expect it? Has retail been trained to do this and if it fails - perhaps the good unwind to come?

AMRN so far so good - my thought mid December was that was it super retail crowded name everyone held for the last FDA decision and it sold off on the news and figured it'd be a sell the news even and quietly slowly fade off for longer than most think. Given there is so many retail here this is how they always happen just a slow steady unwind. $22 was top each time then $20s .... now we may start to form a top at $18 at some point we may get that outlier unwind day that I've been hopeful for -- I had written on scan many times I'd like to see it fill that gap back to November - we just did Friday. Perhaps we trigger some panic now.

SONO goal to see a push $14.20s + then fade off $13.80-13.50s

TWOU $27 next key level on daily - but ideally $26-27 and then fade back. Fast rally so far.

ZGNX reactive trade off open Monday. Got a small piece of this Friday but forgot about it off the open unfortunately. Very clean unwind. Goal for me would be $.50-1.00 + gap + and then fade sub $30s

Big Picture Ideas:

SPCE holding a swing still here, was hopeful for more dips but it's been strong so far. Still waiting for an actual break out to confirm before adding but still thinking could be a decent near term break out squeeze.

BLNK $2.80s trigger needs to be set - that's key level for me. Felt like they cleaned up the tape huge on Thursday. Volume was massive, typically dirty name so I'm curious to see if this starts to trade a bit thinner and we get some news flow / PRs. I started in on the wash outs but nothing I'm rushing into, I am expecting it to fail like the other times however this time has good volume so I would love to scale IF IF IF it proves itself.

CHRS good daily - weak open and break out potential.

Staying Familiar:

WWE higher better possible sub $40s near term

AIMT so far so good - trade idea has been short since the $36 + day also thesis on Thurs/Fri was the $31.97 raise did NOT matter and I think it got retail crowded b/c of that price and we'll likely flush them out. Ideally another $1-2 more flush and rally.

PINS trend join 945-10AM +

KOD higher better but looking for the day it fails 945-10AM + to risk vs. VWAP -- don't step in front of the rebound here.

1 Comment

  1. Thanks nate

    Reply

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