So far, Kingdon Capital Mgmt has bought 600,000 shares!

 

My 2 cents

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After taking my quick profit yesterday, I assumed $APRI fun was over for good with short-sellers taking over.  But this morning action told me otherwise.  After open, price action started to kick off to the upside.  Not to miss this speculation play, I bought back some shares to join the thrill ride.

If momentum continues the way it is now, $APRI may be breaking out to the upside after taking out the Feb 11 high of $3.42.  If, a big IF, there is a buy out in the card, this one can go a lot more…

Below is the daily chart:

Below is the weekly chart:

Notice that this week bar has already broken out of the two 79sma and 89xma lines.  Notice also how the two ma lines are merged together this week.

My 2 cents.

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With $CCJ recovering, it is time for $DNN to play catch up.  We are getting close to the point when the uranium supply from the Russia will come to a slow drip due to expiration of the on going US-Russia HEU (highly-enriched uranium) agreement in 2013.

The chart below looks like it is ready for a bounce.

I bought a starter position in the morning and later added more to double-down on the bet.

My 2 cents.

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$CERS is one my “chase” stock from Monday and I’m still riding the rally on this one.  Price action is now near the previous high of  $5.43.  A breakout of this resistance from here without any consolidation will form a left-hand cup & handle breakout pattern.  Yes, you’ve heard it right.  I don’t know if there is such a thing as left-hand cup & handle pattern in the stock chart book; if not, then I’ve just invented one.

Take a look at the chart below:

Momentum is still strong with momentum indicators still point up and not yet at the over-bought level yet.

Fundamental speaking, $CERS is already selling their blood “cleaning” system outside U.S.  It is currently working with US FDA to gain approval for sales here.  As the sales start to grow outside US with the possibility of gaining US market in a year or two, the potential for $CERS will show in the price action sooner if not later.

Depending on price action in the near future, I’m still debating if I want to keep this one as a position trade.

My 2 cents.

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I like $DUST for its power surge yesterday and I think the run isn’t over yet.  I missed the chase yesterday and today retracement in the 3m chart gave me an opportunity for a bounce play with small risk.

I bought a starter position @ $103.xx and placed a stop below the recent pivot low.  See line on chart.

My 2 cents.

 

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$AAPL has taken out the Fib 50% retracement @ $425.00 instead of bouncing off here.  A failure of a Fib support is as significant as a bounce off it.  It may be too early to say that the 50% retracement fails at $425.00 when there are still time for $AAPL to bounce back up above that line.  However, any further drowndraft away from the $425.00 line will signify a Fib 50% support failure.

I’ve initiated a small starter position (using stock and put option) based on this thesis and will see how it fairs by the end of day.  If price comes back up above $425.00, I will cover and take my small losses.

My 2 cents.

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$NVAX chart also shows a bounce after touching the uptrend line.

Take a look at the daily chart below:

Both momentum indicators are now point up along with the 5 ma line.

A bounce is possible at this point; hence,  I bought a starter position.  This is also my prefer play in light of the bird flu situation.

My 2 cents.

 

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$FB chart looks like it is making higher low if we can get a bounce from here.

Take a look at the daily chart below:

The over all trend is still up and a bounce may be in the card.

I bought $FB looking for a resumption of the uptrend to take out the high @ $32.51  established in Jan 28th.

My 2 cents.

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$GLUU looks like it is repeating price action movement of early April.  A dip below base line of $2.75 and a bounce back to the upside. Meanwhile, the 79 moving average line is trending up slowly.

Take a look at the chart below:

Both momentum indicators are also pointing up.

I bought a starter position and added more afterward.

I like to see price heads back up to the last pivot high of $3.25.   Not expecting a big move, hence breakfast only.

My 2 cents.

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Despite a negative DOW, there are a lot of short squeeze happening all around. The Fly and his team are raking in gain left and right.

However you need to be fast and nimble to take advantage of these momentum plays.  If you are, chasing can be rewarding if you are early in the game; otherwise, quick gain can become quick loss when you are not looking.

If you want to chase but is not so nimble, I suggest you use a stop based on intra-day low for protection.

For myself, I bought $CERS, $KERX, $MNKD, and $CUR at higher price which definitely fell into the category of “chasing”.  I picked these because the charts looked good for further breakout.  But I’m also aware of the need to be quick on cutting losses here.

For my $SZYM trade, truth be told.  I was shaken out of my $SZYM early in the morning for wanting to lock in my gain.  Based on the turn of event later in the morning (hindsight), it is safe to say that the short was getting nervous and embarked on a short campaign to drive the price lower which stopped me out.  But the downdraft was short-lived.  Buyers began to come back and drove the price back up which caused the shorts to cover en masse.  I bought back some at the low $10.xx but not enough to partake on the great momentum later in the morning.  I was away from my desk!  Later, I chased the price by buying on breakout of the intra-day high @ $10.7x.  Priced proceeded to head higher to $11.00 and I added a bit more.  Unfortunately, all good things don’t last for too long.  Price began to fall and I moved my stop quickly to lock in gain for 50% of the buy-back shares.  I was stopped out later.  As price continued to decline, I sold another layer for breakeven to bring me back to starter position.

So far, the chase on $SZYM had brought me a small gain which I considered a waste effort.  Yes, if I had held on to my original position from the morning, I would have made a lot more; but I learned not to think like that anymore.  Once I was out from my early shake-out, $SZYM became a new play with its own risk profile for my re-entry.   You can’t let the “coulda, shoulda” affect you as a trader; otherwise, you can paralyze yourself with remorse and self-criticism that you may end up not trusting yourself in the future.

As a trader, you MUST learn to trust yourself regardless of past decisions you made.  The market is hugely volatile and will take no prisoner.   So, accept your decision and move on.

So far, my chase on the above named stocks have been neutral at best.

There you have it.  If you are thinking that you are missing the boat by not chasing, you can rest easily that it is not the case here.

Be careful out there!

My 2 cents.

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