Monday, May 8, 2017

My best ideas for Tuesday May 9th, 2017

So on my first day live, I was able to make no trades. It took hours of back and forth with my broker before I could get my account funds confirmed then to get my account assigned to the SureTrader Pro platform. By time everything it was settled it was just about market close.

Not that I would have made any trades any ways. All of the best opportunities recently have been in the first 30 mins - 1 hour after the open. Rest of the day volume drys up and it has mostly been chop with one or maybe two strong stocks that keep running right through the day.

Plus I had to get my platform configured properly and set up my charts etc. Now I am all set and ready to go including the plays I will be laser focused on tomorrow in order of preference:

$WTW bounced nicely off 22ish support after selling off hard following it earnings gap last week. This stock has been one of the leading stocks in this recent market rally and I expect this bounce to follow through into tomorrow. Will be watching for a break of today's high ($23.45) and push to last week's high of $25.20.

$AMD after crashing hard last week on an earnings disappointment; this stock has been unable to muster any sort of bounce even as the overall markets push to new all-time highs. I will be keeping an on this stock for a possible short on a break of $10 tomorrow if the markets are weak. If do short this target; my target will be the January low of $9.42.

$IMMU  poised to break into new 52-week highs through $7.15 out of a multi-week base following an earnings breakout on Friday. Ideally I would like to see this stock go side ways for 3-5 day before it breaks out but this one could still work in spite of this. If I do buy this breakout; my target will be the half dollar magnet ($7.50).

$MDXG this highly shorted stock has been on fire: up 15% in the past 5 days and up 50% in the past month or so. After 5 up days in a row, the odds of a pullback is now very high. I will be looking to short this stock on a break of Monday's low (14ish) for a push down to $13.50. If, however, the markets are weak tomorrow I will try to hold a partial with $13.00 target as these extended stock can tank more than is expected before bouncing.

$SHLD trading a narrow $1 range over the past couple weeks beneath it 10 and 20 ma's following a recent 10/20 bearish cross. Last time it did the opposite of this in last March/early April; the range break resulted in a solid 2 point move in only 2 days. I am expecting a similar move in the coming days expect to the downside. Note however, any shorts within the range must be take with $10 support as the target until this stock breaks. Given this stock is highly shorted, another scenario I am open to is playing a potential short squeeze on a break of $11 resistance but the stock must first break $11 before considering a long!!!

Best of luck tomorrow...let's do this!!!

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