End of Day Wrap Up 02/09/2021
Ocugen (OCGN) opened up pre-market hitting $15.90 before the huge sell off , which was expected after running 166.09% yesterday to a high of $18.77. I was able to finally accumulate more shares under $11.50 before the next run. I’m hoping that it will drop a bit more so I can personally load up. OCGN tends to have a huge sell off the day after a big run, and then loses volume after a few weeks, and at the moment people lose patience with the stock, they sell, and Ocugen news comes out, which starts the run. I’m waiting on news for Covaxin, and by then I’m looking for the next gap up to $25+, and then I’ll focus on the next leg up. Long term, I would not be surprised to see OCGN trading back in the hundreds by 2022, but we will have to see because it will all depend on the news we’ve all been waiting for.
ITRM hit a high of day at $2.85 during pre-market hours, but slowly lost momentum throughout the day. I’ve noticed that SAVA, OCGN, and ITRM have been running together over the last few weeks. I will be watching these three closely, especially OCGN and ITRM. OCGN has the potential to run the way INO and NVAX has ran over the last 12 months. ITRM has a potential gap fill up to $12.85, but short term, I’d say I’m focused on getting this over $4.
The Highlight of the Day: HQ Global Education Inc. (HQGE)
HQGE, my OTC play, hit a high of day at $0.0328 today during market hours. I did sell my full swing position, but I’ll be looking for a pullback or huge dip in the coming days and weeks to add on another red day. I’m very careful not to chase OTC plays because you can lose a lot of money very quickly (as you can see) if you chase on a green day when it’s very volatile. I will only add to a green OTC position if it’s moving steadily on lower volume.
On Watch Tomorrow
I will be looking at the Short Sale Restrictions (SSR) list to see if OCGN, GME, or AMC will be on there, as I am watching for reversals back up. I will be closing out my swings as usual and watching my OTC plays to close them out as well depending on whether they retrace or not. It looks like OTC market is the new penny stock market since less than 10 stocks are under $1 at this point. I’ve slowly transitioned my portfolios over to OTC plays since I’ve learned how to trade them over the years, and with new traders entering the OTC market, it makes trading OTC plays more fun for me.
How to Utilize My Positions List Below
Many ask how to utilize my top 10 green/red position lists below. Oftentimes, I will exit my green swing positions if it looks like there will be no continuation. My decision varies depending on what my cost price is. It’s all about managing risks, and if it looks like I’ll be in a position where, I’ll be down, I won’t hold, and will choose to reposition myself by accumulating dips on red days over a period of time until it’s ready for the next run.
To Buy On Green Days or Not
I will add to my green positions on green days only if it’s moving in the direction I like and forming higher lows, and showing a bullish chart. I make sure to scale when adding, especially on green days, because it can go south quickly.
To Buy on Red Days or Not
I will almost always accumulate my red positions because they usually move back up, unless it’s a clear pump and dump, which I will never swing because it’s too risky. If there are sharp spikes and a quick drop down, then it’s a clear pump and dump. If the chart slowly drops in price throughout the day, then that’s usually people taking profits. To make the call on re-entering or accumulating, I look at the 5D, 10D, 30D, 90D, 180D charts and I monitor the volume. I love adding when there’s little to no volume when setting up long swings.
Top 10 Green Positions (02/09/21):
Top 10 Red Positions (02/09/21):
I monitor Market Movers every single day to scan for new setups. I mainly look for positions with unusual volume that are at the bottom, ready for a reversal back up, or if they remain green, I look for a bullish chart for a continuation.
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