Watchlist for 04/03/15

After doing my review of yesterday's watchlist, I decided to be a bit more picky with my Long picks.. I've only 4 for tomorrow. I had 5 but my last one was an acquisition so I've absolutely 0 interest in that. I should probably have just keep up 6-10 charts for research and then widdle it down to 5 main stocks and keep the rest just to see how they did, just to see if I'm missing something. Either way, up to 5 Long Plays is where I want to be but I still have much to learn. If you have any feedback, please comment below.

I'm not using those interactive charts that change per day from now on, unless I state it. This way I'll be able to see how the chart matched up with my thinking on that day.

Long Plays

Orexigen Therapeutics, Inc. (OREX)
Play: Weak Open + R/G. I'd like it to test the R/G a few time ideally and gear up for a big move through the $7.50 as well. Risk LOD
Story: OREX is up because they released news that a diet pill of theirs has heart benefits. The FDA criticized the company saying the news wasn't supposed to be public. Apparently some people feared the pill may cause heart attacks but early research is showing it might actually prevent them.
Thoughts: It started a trend reversal at 12PM yesterday and it could doing it today. Worst case it will get back to $6 today (In my Opinion). Wait for a higher low before getting into this trade because it could just keep fading. On the other hand it could pop out of the gate. But we'll see and I'll write a review on the watchlist tonight.

 

Ohr Pharmaceutical, Inc. (OHRP)
Plan: Weak Open, ideally get down to around $10-$10.20.. Higher low. Risk off LOD or $10
Story: They announced positive data of some study on the 02-03-2015. This was obviously positive news and could keep running a for another day or two without a pullback.

 

ZIOPHARM Oncology, Inc. (ZIOP)
Plan: Weak Open + R/G.. Risk off $12
Story: This is still running from their Earnings Loss on the 27th.. I might be a day trader, but I can't help but feel itchy about buying a company losing money. I must get it through my head "It's all about price action".

 

Intrexon Corporation (XON)
Plan: Weak Open +R/G. OR an ABCD pattern
Story: Announced Earnings After-hours on the 02-03-2015.
Thoughts: I don't know if I'd call this more of a possible reactive short scalp if it did gap up and parabolic through $50 towards $55. As I said before, I've the watchlist down to 5 stocks for longs, but I really need to hone in now and figure out could they be better shorts?? Again this is an Earnings Winner so I wouldn't put up a big argument but I just don't know yet.