Today's Watchlist 12May: NVAX MGNX NNVC MRNA CBAY LABU

KCalhoun

KCalhoun

Time to shift focus away from inverses & back to momentum gappers and strong breakouts.

Here's the daily watchlist of what we'll be focusing on today in my live room:

NVAX
MGNX
NNVC
MRNA
CBAY
LABU

Nice charts! I post both long and short alerts for my members, updated in realtime at www.tradingtheopen.com
 
Good morning Ken-My training is not in Day Trading. I assume because these stocks are moving a high percentage pre-market, is the reason why they are on your list. Take NVAX as an example. The stock closed at 24.50 and is now up 12.20 or 49.79%. When you see that, how does one determine to fade the jump or jump on the momentum? IMO, any stock up almost 50% is a different company than yesterday, so I'm not sure charts help. Would you like to share a bit of your process that makes you buy or sell this?
 
Robert Morse said:
Good morning Ken-My training is not in Day Trading. I assume because these stocks are moving a high percentage pre-market, is the reason why they are on your list. Take NVAX as an example. The stock closed at 24.50 and is now up 12.20 or 49.79%. When you see that, how does one determine to fade the jump or jump on the momentum? IMO, any stock up almost 50% is a different company than yesterday, so I'm not sure charts help. Would you like to share a bit of your process that makes you buy or sell this?
More...

Hi Robert, sure. I use a combination of signals in-market:

Opening range breakout strength
Premarket s/r levels
Tape reading
Size of gap, plus it's pattern
In-market bull/bear flags and cups
Prior day high/low for nongappers
Whole number s/r levels

Plus S&P in vs out day, TRIN

Re gaps I prefer small under 10% for continuations, am just as likely to fade extreme gaps over that, if they lose premkt lows
 
KCalhoun said:
Time to shift focus away from inverses & back to momentum gappers and strong breakouts.

Here's the daily watchlist of what we'll be focusing on today in my live room:

NVAX
MGNX
NNVC
MRNA
CBAY
LABU

Nice charts! I post both long and short alerts for my members, updated in realtime at www.tradingtheopen.com
More...


Have NVAX and MRNA on my watch list. Did not get on MRNA because the options premium was too rich. NVAX looks to open strongly today. I have a position on NVAX.
 
smallfil said:
Have NVAX and MRNA on my watch list. Did not get on MRNA because the options premium was too rich. NVAX looks to open strongly today. I have a position on NVAX.
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wtg re NVAX, well done

I'm using 38.7 resistance 31.4 support on the chart. If I were long overnight I'd sell 2/3 now at 35

nvax12may.jpg
 
Labu whoa...that 3x doesn't go down. Biotechs only know one way, upppppp.

Labd is trading under $5.00, might buy a little since this biotech rally will soon fizzle
 
Nvax $3.4 million revenue and market cap at over $1 billion....

Hmmmmmm.....

$384 million dollar investment?? im surprised by that since there are hundreds of bio techs all chasing this cure, wouldn't it have been better to take $5 million and spread it out over 50 different companies competing for this cure??
 
S2007S said:
Labu whoa...that 3x doesn't go down. Biotechs only know one way, upppppp.

Labd is trading under $5.00, might buy a little since this biotech rally will soon fizzle
More...

consider deep out of the money naked puts LABU
 
Market dropped on open so I will cautiously scale into inverses like FAZ breakout and UVXY TVIX LABD SRTY pivots if they keep moving up.
 
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