Watchlist 5/13/22 & Recap
I mentioned on Twitter when crude oil dropped below $100 to watch out for a reversal. Crude oil is now back above $107 levels. I’m anticipating for it to reclaim $110-$115 levels in the coming weeks. In this environment, I’m accumulating oil, gas, food, and agriculture stocks.
Right now, I’d focus on the oil stocks that aren’t at risk of being delisted or becoming delinquent if they’ve been trading below $1 for 30+ days. You can view my oil play list at the bottom of this post. If crude oil breaks new highs, I expect oil/gas stocks to follow with some lag time.
Manage Risks & Trading Plan Disclosure
These are my trading plans, and many ask if I’m holding this or that. If it breaks any of the dip zones that I mention or if it breaks the trend line for a swing on the 5D/30D chart, I will respect my rules and I will respect my stop loss and wait for the setup to re-enter. Never bag hold, never average down on a loser UNLESS you’re confident it will reverse, and never turn a day trade into a swing if you do not have a set plan. For those under PDT, be careful with setting up swings too early in the day; I prefer waiting until after lunch (EST) to set my swings up (unless it hit my perfect dip zone). Always make sure you have a day trade available in case you need to exit and reposition. It’s okay to be wrong, but it’s not okay to stay wrong. Hope doesn’t make us money; proper risk management does.
Many of these are great long term plays if one was to load up on red days while respecting the trend line for setting up swings. There’s nothing wrong with buying on green days if buying the BIG pullbacks. Best way to get burned is to chase while they’re ripping upward.
SSR triggered setups are my preferred setups for swinging. This does not mean that it cannot be shorted. If the volume is high, price action/momentum is there, with upcoming catalysts; then this is my preferred setup as someone who swings. I keep a mental stop in case I need to reposition my swing. Not every SSR trade will move up; there are many variables one must take into account when trading this type of setup.
I do NOT hold all stocks listed below. I provide a list of top mentions/trending/abnormal volume movers/upcoming catalysts/earnings/conservative large caps. You decide what you trade based on your preference.
5/13/22 Main Watch
If the market is red, consider respecting your stop losses. Stopping out doesn’t mean you’re unable to re-enter; it’s you giving yourself the best setup while managing your risks, and maximizing profit potential. Waiting for confirmation is crucial once it hits the dip zones; I would never just jump in and buy. It’s important they hold at the dip zone levels. If it breaks below, I typically wait for it to reclaim that dip zone before scaling in.
VRM hit low of day (LOD) $1.24 premarket and high of day (HOD) $1.60 intraday, closing at $1.42. VRM seems to have found support at $1.35-$1.40 levels, forming higher lows. If there is another pullback, watch for the dip zone to be at $1.38-$1.44. The next leg is to reclaim $1.50, then $1.60. If VRM breaks the wall down at $1.75, $2+ will come quickly. Next week we will aim for $3-$5 levels. The momentum is from Vroom reporting better-than-expected Q1 EPS and sales results. Based on 12 analysts, there is a high PT of $51, low PT of $2, and average PT of $8.71.
Roblox reported earnings on 5/10/22 after hours, and held a conference call to review the earnings. You may view the press release here. After that call, the market responded positively, hitting high of day $28.37 on 5/11/22. Today it hit low of day (LOD) at $22.61 and high of day (HOD) $31.11. RBLX had a healthy pullback from the high of day (-13.85%) intraday to $26.80 levels, and it slowly climbed back up, forming the next leg, and closing at $29.68 after hours.
If there is another pullback, watch for the dip zone to be at $26.50-$27.99 levels. RBLX needs to reclaim $31 levels for the move back up above $35. After that leg is reclaimed, the next leg is $40-$45. Short Interest is 6.22% of float. Based on 21 analysts, there is a high PT of $103, low PT of $28, and average PT of $53.33.
GME triggered SSR yesterday after 2 months of us trying to have it triggered. The last time we dropped below $80 levels on 3/15/22, we ran back up to $200 levels on 3/29/22; that was a 2 week swing. It hit low of day at $77.77, and was halted up three times to high of day (HOD) $108.06. If there is another pullback, watch for the dip zone to be at $83.07-$91.85 levels. GME needs to reclaim $110 levels, consolidate, and then reclaim $125 levels for the next leg back up above $136-$150 levels. Short Interest is 22.01% of float. Based on analysts, there is a high PT of $90, low PT of $23, and average PT of $47.67.
BBIG hit low of day (LOD) $2.31 and high of day (HOD) $3.04 after hours. BBIG closed at $2.63. If there is another pullback, watch for the dip zone to be at $2.57-$2.73 levels. Short Interest is 21.91% of float. BBIG needs to reclaim $3.25 levels for a run back above $4.
5/12/22 Setups Pre- and Post- Reviews
I’ll be posting pre- and post- charts to see if our plan worked. I’ll show the percent changes from the dip zones so that you can see how there are plenty of gains to be made even in the small moves. It’s up to you when you take your profits. These will be used as archives so I can refer back to the chart year over year. This will also be used as learning tools to see where we went wrong so we can figure out the best way to maximize profits and manage risks. If none of these have moved yet, watch for the move to come in the coming weeks.
VRM hit high of day (HOD) $1.68 premarket and high of day $1.58 intraday before fading and hitting low of day (LOD) $1.27, triggering SSR for tomorrow 5/12/22, finding support at $1.30 levels, and closing at $1.34. If there is another pullback, watch for the dip zone to be at $1.23-$1.30. Short Interest is 30.79% of float as of 4/15/22. Based on 12 analysts, there is a high PT of $51, low PT of $2, and average PT of $8.71.
VRM hit low of day (LOD) at my dip zone ($1.23-$1.30) $1.24 (✓) premarket and moved $0.36 (29.03%) to high of day (HOD) $1.60 intraday, closing at $1.42. This is setting up for the next leg back up & will be a multi-day/week swing.
AMC hit high of day $12.16 premarket followed by a huge fade into a low of day $9.91, triggering SSR for tomorrow. This is significant because it’s taken 2 months for AMC to trigger SSR after a ton of manipulation. I’ve monitored AMC for 2 years, tracking its intraday moves. AMC was able to reclaim $10 levels again, closing at $10.37, so tomorrow we shall see how it moves under SSR. In the past, both GME and AMC have done extremely well once SSR gets triggered. If there is another pullback, watch for the dip zone to be at $9.73-$10.09 levels. Short Interest is 19.61% of float. Based on analysts, there is a high PT of $35.10, low PT of $1, and average PT of $9.95.
AMC hit low of day (LOD) $0.03 below my dip zone ($9.73-$10.09) $9.70 (✓) and moved $4.01 (41.34%) to high of day (HOD) $13.71. AMC needs to reclaim $11.65 levels, consolidate, and reclaim $13-$14 levels for $15-$16 levels.
INDO hit high of day $15.28 and faded into low of day $13.30 after hours. Dip zone is $13.25-$13.74 levels. I’m personally holding this one as my main oil stock because it has the setup to squeeze back into the $20-$30s once crude oil runs back above $110 levels. Short Interest is reported as 9.11% of float, but I believe it’s much higher. Based on analysts, there is a PT of $15.
INDO hit low of day (LOD) $12.09 and moved $1.15 (9.51%) to high of day (HOD) $13.24. It broke below my dip zone and was unable to reclaim the dip zone. With crude oil prices moving up, friday may be the day oil stocks rip upward, which is typically what happens whenever we go into the weekend. As I’ve mentioned on Twitter and at the bottom of every blog post, the best way to make money with oil stocks is to accumulate them while red. If there is a pullback, watch the dip zone $12.20-$12.55 levels. INDO needs to reclaim $13.50 and then $15-$18 levels for a bullish move back up into the $20s.
Roblox reported earnings yesterday on 5/10/22 after hours, and held a conference call to review the earnings. You may view the press release here. After that call, the market responded positively, hitting high of day $28.37. If there is another pullback, watch for the dip zone to be at $21-$23 levels. Short Interest is 6.22% of float. Based on 21 analysts, there is a high PT of $103, low PT of $28, and average PT of $53.33.
RBLX hit my dip zone ($21-$23) at $22.61 (✓) and hit high of day (HOD) $31.11. RBLX had a healthy pullback from the high of day (-13.85%) intraday to $26.80 levels, and it slowly climbed back up, forming the next leg, and closing at $29.68 after hours.
BBIG was a swing from 5/10/22 at the dip zone $2.68. BBIG faded lower throughout the day on 5/11/22, triggering SSR for 5/12/22, It will need to reclaim $2.75 levels for a move back up.
BBIG pulled back to $2.31 premarket, and under SSR, was able to climb back up, and reclaimed $2.75 levels (✓) after hours and hit high of day (HOD) $3.04 after hours. This was a reaction to news that dropped stating, “Vinco Ventures 8-K Shows Date Related to Securities Purchase Deal with Unnamed Accredited Institutional Investor Extended from May 6 2022 to May 11, 2022.” On May 6, 2022, the Company and the Holder entered into a Third Amendment Agreement (the “Third Amendment Agreement”) whereby the parties agreed to amend the Second Amendment Agreement to replace the date of “May 6, 2022” in Section 7(m) of the First Amendment Agreement to “May 11, 2022.”
Others to Watch/Trending
Oil Stocks to Watch for a Reversal
If trading oil, make sure you’re monitoring crude oil prices. Only load up on red days. If you chase the day it runs, you’re already too late. Your chances of losing money is much higher since it’s more volatile. Unless you’re a strong day trader, I would not try scalping an oil play. There are better setups elsewhere.
- INDO – 9.11% SI as of 4/14/22
- HUSA – 5.25% SI as of 4/14/22
- ENSV – 4.18% SI as of 4/14/22
- CEI – 8.57% SI as of 4/14/22
- USWS – 10.71% SI as of 4/15/22
- MXC – 3.34% SI as of 4/14/22
- MARPS – 1.48% SI as of 4/15/22
- IMPP – unknown SI
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