Another big day yesterday on these cheap stocks. Not sure what it is but there has been some crazy strength pushing these higher this week. GOEV was the strongest one yesterday, and I did something I never do and held some overnight. Gapping nicely. Only needed that one, FFIE and MULN yesterday.
GOEV love the strength of this one yesterday, obvious bidder just pushed it for hours. Was easy to see the moves higher coming, hoping for more of the same today.
FFIE has a really nice daily chart breakout setup. So it will almost certainly fail because FFIE is the worst stock there is and it never does what I expect it to. I’ll be trading it either way though and hoping for more upside and then ideally fade it next week.
MULN one of the worst stocks in the market, feels like one big paper selling scheme, but I had a few good trades long and short on this one yesterday as the cheap stock momentum lifted this one a bit too.
EVLO massive % gap up this morning, apparently on patent news. Realistically it is unlikely that a patent justifies this move, there is just a lot of momo in the cheap stocks right now so I’d expect this one to fade, but we’ll see. Will long if dips hold.
HGEN, same as above. Only a 4 cent gap and it’s cheap. Will watch just in case it gets volume, probably nothing.
SURF is a buyout so probably won’t be a big move either way but it’s right around $1 so I may take some as it breaks a buck to see if I can catch a few whole pennies quickly.
Most of my focus will be on the first 3 names. It’s Friday and it’s been a great week, don’t give any back overtrading.
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