End of Day Wrap Up 02/19/2021
TGIF everyone! As I expected, we finally broke the red streak, for the most part. My travel stocks, cannabis stocks, and energy stocks opened up green today. It was a much needed break for those of us that saw lots of red this week. On the bright side, I was able to set my positions up for the next month.
Highlights for the Day
After one and a half week of consolidation, OCGN hit high of day after hours, closing at $10.96. I watched as the buys came pouring in on the red tape, wondering what in the world is causing the spike. So I looked it up, and this is what I found..
In the News
Covaxin effective against mutant virus strains: ICMR
COVID-19: Nod for Bharat Biotech’s nasal vaccine trials touted as a game changer
With positive news, this makes for an exciting Monday. I’m not sure what to expect, but when SAVA had positive news, the run was absolutely INSANE.
Top 10 Stocks Next Week 02/22/2021-02/26/2021:
- OCGN, with 12.9M in volume, for a reversal heading into next week based on the positive Covaxin news.
- FRX, with 19.7M in volume, looks bullish heading into next week
- NXTD, with 66.1M in volume, forming higher lows on the 1Y/180D/90D/30D chart
- HCMC, with 8.79B in volume, consolidating at the $0.0034-0.0035 mark with “low volume,” which is absolutely insane. With the amount of buys pouring in at the close, and high lows forming, I’m swinging this one long until the court case is done
- ITRM, with 22M in volume, forming higher lows on the 30D/90D chart
- NEPT, with 44.7M in volume, looks like a reversal back up heading into next week
- WORX, with 1M in volume, showing a reversal on the 5D/30D chart, and a strong movement upward on the 90D chart. Once volume pours in, this stock will get a good run up, as it has in the past.
- SRNE, with 10.98M in volume, had strong movement after hours, and I anticipate a reversal back up, as this also moves in sympathy with other COVID stocks
- IBIO, with 21.3M in volume, had strong movement after hours, and looks like a reversal is on its way next week when looking at the 5D/30D/90D chart
- SNDL, with 873.2M in volume, hit a low of $1.22, filling my buy order, adding to my position. The 30D chart shows a reversal heading into next week. Regardless of the furus on twitter denouncing Sundial Growers, and the news of future warrants scaring investors off, I’ve been in this stock long enough to know that it doesn’t matter because traders like cheap stocks, and this always runs in sympathy with KERN, ACB, TLRY, HEXO, and CANF.
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 (02/19/21):
Top 10 Red Positions (02/19/21):
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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