Good morning everyone, it’s hump day.
This list is geared towards day trading. With the small cap stocks especially, I am typically in and out very quickly, only occasionally longer than 5 minutes, usually faster scalps. I am also constantly watching the candlestick charts and observing price action and volume, and you should be doing the same if you want to trade these stocks. Always have a plan when you enter a trade (for profit taking and for taking a loss), and use proper risk management.
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Main Watchlist
- Gapping UP: MARA, RIOT, CAN, CHPT, ZKIN, DLPN, AUVI, IPHI, UGRO
- Gapping DOWN: GME, VIAC, TKAT, PLL, MP
Momentum Watchlist
- HOFV (+80%): Up on news of partnership related to NFT's. Currently showing some weakness in price action, but I'll be keeping an eye on this one. May have found premarket support at 6.75-6.80.
- APTO (+41%): Up after reporting earnings. Seeing good volume and price action in premarket. Premarket support around 4.70, with a premarket high of 5.84.
- LIVX (+14%): Up on news of partnering with Facebook paid online events. Seeing okay volume and good price action in premarket, I'll want to see volume pick up a bit more. Current premarket high is 6.91.
- CSCW (+44%): Up on deal for blockchain technology support for an app. Recovering a bit after selling off in premarket, I'll be keeping an eye on it.
- FREQ (+12%): Couldn't find a catalyst, but the stock gapped down massively yesterday. Seeing decent volume and price action in premarket, I'll be watching this one throughout the day.
- EBON (+7%): Up with Bitcoin today, couldn't find another catalyst. Seeing decent volume and price action in premarket, and may have found premarket support around 9.25.
Market Outlook
We are looking at opening green across the board, after the choppiness yesterday. Lots of indecision in the market, and we could see more of that today. SPY is trading at 391, and it's encouraging to see the green in premarket. I'm hoping for more strength today, but I'll be watching UVXY to take advantage of any sharp movements to the downside. Bitcoin is up at the moment, currently trading around 56,900. Bitcoin-related stocks are doing well in premarket, and I'll be watching them throughout the day. Elon Musk tweeted that you can now buy a Tesla with Bitcoin, so there's that. Tech stocks continue their recent strength, which is good to see. Gold, silver, and oil are up in premarket trading as well. GME gapping down this morning, so I'll be keeping an eye on that.
Just remember to use proper risk management, make sure you size appropriately for your account, and have a plan for every trade you enter. Happy trading everyone :)
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