I believe there are better short setups out there than longs. However, since I am using TD's thinkorswim for paper trading and the paper trading mimics the borrows they actually have and their borrows are horrible, I can't short many stocks at all, and so I mostly look for long setups.
Longs
VJET: Looking for a weak r/g or if it goes above the prior day's high.
If it is a weak open, I will start in partial positions with risk to 9 or LOD. Once I see higher lows, I will start to add in anticipation of r/g.
If it gaps up, I will buy dips and look for higher lows. I will also look to see if the prior day's highs become support to buy from.
PLNR: This has gone to all-time highs so this can be a quick mover. Looking for a weak r/g or if it goes above the prior day's high.
If it is a weak open, I will start in partial positions with risk
to 8 or LOD. Once I see higher lows, I will start to add in anticipation
of r/g.
If it gaps up, I will buy dips and look for
higher lows. I will also look to see if the prior day's highs become
support to buy from. The 8.15 area will be interesting to see if it holds as support.
XONE: Looking for a weak r/g or if it goes above the prior day's high.
If it is a weak open, I will start in partial positions with risk
to 17.25 (from prior day's support) or LOD. Once I see higher lows, I will start to add in anticipation
of r/g.
If it gaps up, I will buy dips and look for
higher lows. I will also look to see if the prior day's highs (17.75) become
support to buy from.
Other longs that I have set price alerts for but won't be monitoring unless the alert triggers (trigger noted next to ticker):
INVN 16.50s
SUNE 20.20s
CAR 65.20s
Shorts
ISIS: I think we can see a push to 64 or 65 and a stall in the momentum over the last couple of trading days. I am looking to short any failed follow through momentum or any late day fade.
TASR: This can still get going with any news on body cams, but assuming no news I am looking to short lower highs with 27.15ish looking to be the resistance and will act as my line in the sand to stop out or continue shorting pops.
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