Friday May 25, 2018 – GERN

I started my trading career with Tim Sykes and when my breakout strategy did not work for me anymore and when I was lost, I joined Investors Underground. The DVD’s that helped me the most were Tim Grittani’s Trading Tickers and Nate Michaud’s Tandem Trader.  Software that has helped many trader can be purchased here: Trade Ideas software

Watch list for the day, top picks: AVGR GERN CHCI TRXC SCYX REPH

AVGR seems like a nice trade at open. Was expecting some more parabolic action towards that 2.50 resistance. Never got it and never got there. But still on my list for Monday squeeze action. I am a patient trader, I can wait until Monday!

CHCI did not have volume or bounce. Total avoid for me.

Other stocks, 18 total on my watch list, did not meet my volume criteria.

GERN

Quite similar plan as yesterday really, although, I was surprised it broke that 4.40 support briefly. My chart was showing that GERN bounced already from the 50 day EMA yesterday (on the one hour chart) at after market. GERN filed for a whopping 250 million offering and the ticker dropped to 4.40. My plan was simple, short any spike I can get my hands on. As I am writing this, I wish I shorted again at 4.60. But I want to enjoy my weekend and called it a day.

Again, the plan was simple, short any spike. Level 2 was my main guide today, because I was chasing a bit after the 50 day EMA and VWAP were ignored. When people started to sell into that 4.66 reject I also attact. My average was 4.60ish and was shaking a bit because I had to multitask this trade a bit. GERN crashed to 4.35 and I did not have a decent size yet. The difference between yesterdays trade was that yesterday there was clear selling into the spikes. Today, GERN spiked and almost immediately engulfed the candle. This was an indicator for me to be careful and little did I expect this to drop like it did. I should have known, because of the offering.

  • kindly note that this blog post should not be treated as advice, trade advice or any of the sort. Always trade your own plan, cut losses quickly and never follow any alerts. Always do your own research and trade accordingly!
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