CVO was the only stock I was focused on daytrading later in the day. Momentum is everything in crappy stocks, and let’s face it, most of the best daytraders (% profit potential-wise) are crappy stocks. It is what it is. I do prefer very high quality (to me) very strong stocks (bought into reaction setups), which are way under-covered by Wall Street, and/or stocks in, or emerging from, accumulation. But if the best daytraders are usually the ones with the momentum still up, then why do so many people want to buy them when the momentum is broken? And what about the time of day? That stuff is in the video, along with – please don’t try and trade the previous trend. And please understand what makes the probability, of the continued uptrend, much, much lower. As far as buying strength, on any time-frame, IT’S A BULL MARKET.
ROKU, MARA, XNET, EKSO, SQ gave off some warning signs – from today’s premarket:
“ROKU, with a serious resistance area, is similar to EKSO, XNET, MARA to me, in that it had the big resistance area, but shorter-term there was a high probability of a secondary rally attempt. It (the buy) just didn’t set up for me. SQ, a different situation technically, more later but there could be a quick bounce in there setting up later today.”
Also discussed are DVAX, INSM, OSTK (still long all three), plus PZRX, APEN and why they are upthrust stocks, like I said about DPW and SSC in yesterday’s premarket.