03/03/15 Watchlist Review

Another Review of my Watchlist.. Didn't really have any great plays on it.. And I'm sure there won't be great plays every day.. But it's about trying to find the best 5-10 stocks you can watch for the following day... There's a few lessons below at least to say why you may not choose a stock, which should help eliminate stocks will just be taking up room and your time.

Long Plays

Applied Optoelectronics, Inc. (AAOI)

Plan:Weak Open, Red to Green, Wait for Higher Low, Continue towards $14

I guess it sort of stuck to the plan. But stay out of choppy stocks like this.

Isle of Capri Casinos, Inc. (ISLE)
Plan: Weak Open, Towards $14

It opened down, spiked out of the open.. and down-trended from there.. I'm guessing I shouldn't have put this down as a Weak Open play just because if you look at the 1 year chart, the price action has gone parabolic and had big 5 year resistance in the $14-$14.50 range. I don't really know what makes a great chart for what play yet but I'll work on it.

Ohr Pharmaceutical, Inc. (OHRP)
Plan: Weak Open down to $9.50, higher low.

Got a slight gap up, but then it fell back... It set itself up at 12PM, where you could have bought at $9.50-$9.60, basing your risk off of $9.25-$9.30 area. Selling half after the R/G break and into push towards $10. Wouldn't have been a bad trade to sell it all there though.

CorMedix, Inc. (CRMD)

Plan:Weak Open, higher low, $5.50 break, R/G or ABCD

Got nothing here. This is probably more of a short trade because the stock is up from below $2 in the last 2 months (175%+ Gain). It did consolidate in the $3-$3.50 area though. But in 8 trading days, it went from $3.50 Breakout to $5.62 (Yesterday's Close) with hardly any pull backs. I'll keep this in mind to watch.

 

PGT, Inc. (PGTI)

Plan: Weak Open, Higher Low, $11 Break, R/G

There isn't really big range on this one. And the intraday chart isn't providing a very clear chart pattern which I know and it's not really providing great risk reward security.

ZAGG Inc (ZAGG)

Plan:Weak Open, Higher Low, R/G, $8.50 break

Might have been a nice short for $8.50 parabolic on $9. I think I'll stop putting the interactive charts in my watchlists, so that I can view in the future how the charts and my thoughts compared.

Theravance Inc. (THRX)

Plan: Weak open down to $19, Higher Lows. R/G

 It could be said it worked the plan happened.. I know there was a spike, but it got below the R/G line, put in a bottom, a higher low and pushed back up towards the HOD. Risk Reward wasn't too bad.

Telenav, Inc. (TNAV) 

Plan: Weak Open down below $9, Higher Lows, $9 break, R/G

Opened quite high at $9.65ish... And collapsed from the open. Plan didn't work out. So, no trade.

BroadSoft, Inc. (BSFT)

Plan:Weak Open, Higher Low, $33 break + R/G

No trade here.

 

Portola Pharmaceuticals, Inc. (PTLA)

Plan: Weak Open, Higher Low, R/G

Very Choppy.