[Morning Recap] Top Stock Trades for March 30th

by | Mar 30, 2016

Hope everyone had a great day so far! I'm just about done on trades for the day -- monster morning much better than yesterday stupidity after a nice morning as well.

Lot's of questions about this set up I posted last night I'll do a post soon about how i have it laid out !!

 

WLL

WLL  worked out but wasn't perfect - idea was after the #s shorted into the pop looking to scale in wanted to wait for lower highs and back side with the help of XLE XOP - once I started to see XLE XOP turn I started to scale and had a nice wash. It's very important to see the similarity here and how it can help you form a trade.

CLCQXANNTA

HDPUAKJYXE

HIMX

HIMX just a real nice opp out of the gate. At first glance you think "hey it's up a lot, short !!" but knowing this name and knowing it has a tendency to be stubborn like X the plan last night on scan was 1) if you short a gap up don't expect full day fade it's going to be a quick wash consolidate and grind back up .... or 2) look for opportunity off a morning wash let it wash recollect higher lows and then risk off LODs for a r/g attempt. That's what I did - left the trade a few minutes too early but nice regardless.

ACAD

ACAD play of the day for me - I remember back to SRPT maybe 6 months or a year back any time there's good news sometimes the name is already so crowded prior that it sells off on good news. Well, same thing here the idea out of gate was short all pops for an unwind BUT be aware that 1-2PM + may bring a chart reversal. The reason I make this point is there are many times I've underestimated how far these can rally and I stay short ... and let it grind me into the bell. After all it does have a right to go up 🙂

WATT

WATT Nice short piece right at the open alerted in the room got short early $10.70-75 so had a nice quick gain but then re short pops covering dips around a core. I think it's possible this unwinds back into the single digits over the next few days - it's up on stuff that will take years and years to come to fruition you might see a unicorn before it turns into a good investment.

VRNT

VRNT I started here today looking for failed follow through momentum - started very small as you know I like to get in the name to get a feel for it let it test adn as you can see 10:15-10:30 put in some topping action I let it peak out and drop then shorted pops, had a nice washout and covered into the .30-.50s wash - this was a mistake I made on MDVN yesterday thinking I'd get more of an unwind after all market turns on a dime lately best to lock in around core along the way.

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