Back to the home office and normal business for another week and a half, then one more beach trip and I’ll be done til Vegas. Awesome week in New England, really recommend coming out for the T4AC events if you haven’t. They are fantastic opportunities to network and get to know others who are pursuing this career path in trading. Things have slowed down a bit in penny stock land but those first few weeks of August was pretty awesome and obviously unsustainable. Should still be plenty of good trades to be had going forward, but need to recognize the cycle we’re in and just take what is there and not force trades.
NVTA was my best stock yesterday and will be a top watch today. I like this price range and the volume has been strong the last 4 sessions. I think odds are good this one either pushes back over $1 in the near future or the volume dries up and it becomes irrelevant. No bias on this one, willing to trade it from both sides and will react off the open then try to join trend once it settles on a direction.
AXLA really thought this one was a good candidate to gap up this morning, but it had a really nice run early in after hours and has faded back to red this morning. I will be watching closely for a r/g move but won’t force it, dip buys only not going to chase strength.
GOEV has been on a nice run recently but really doesn’t trade like it used to just last month when I was trading it almost everyday. It’s just choppy at times and easy to overtrade it but that dip buy off the open yesterday was money and the sustained bounce there was a great opp. Will be watching for a similar pattern today, this one often does the same thing multiple days in a row.
AGIL near the top of the list for volume this morning. This one had a big run last week and then faded on really light volume. Wouldn’t say liquidity trap per se but after a few days of almost no volume and now 30M+ in premarket, could be in for another good run if it can push through the overhead resistance.
ARAV not a fan of this price range at all, but trading a ton of volume and nice % gainer. Will watch near the open just in case it stays strong and wants to have a go at the gap fill. It’s gonna take a massive volume day to get there.
OTLK down 80% on FDA rejection of their eye disease drug. I know I put these types on the watchlist and a lot of times they just die and don’t have any bounce but every once in a while they are good traders. Will be watching at open for strength, the best ones bounce right away. If not it may just linger down here in the 0.30s all day and never be worth trading. Time will tell.
MULN will be watching as usual. I missed that big run in the afternoon yesterday but that kind of move is familiar on this one so I’ll be looking to get in quick if I see it building.
1 Comment
odie
on August 30, 2023 at 1:21 pm
will be at vegas looking forward to getting to more events
will be at vegas looking forward to getting to more events