I don’t like every stock out there. Like any other trader, I’ve got my preferences.
But in these Pre-Market Prep sessions, I try not to make it about me. For instance, in today’s session, I’m pretty open about the fact that I’m not a huge fan of US Well Services Inc. (NASDAQ: USWS).
Regardless, even if a stock’s in a sector I don’t like, I’ll still talk it out and explore the ‘why’ behind every reasonable trade.
Also … Looks like my announcement yesterday that Periscope was over and done may have been premature. It appears to be working today.
But the service will stop soon, so remember: I’m still on FaceBook, Instagram, and YouTube. You can also find the archives here.
Here’s what I’m watching today…
US Well Services Inc. (NASDAQ: USWS) is not my favorite type of setup. Among other things, I don’t like the float...
But it had some news last night, and everyone seems to be eyeballing this ticker today. However, I admit it is a nice breakout over $1.20 with a potential risk level at $1.05 or so.
Not dead yet! InnSuites Hospitality Trust (NYSEAMERICAN: IHT) has terrible volume today. But if you ask me, this dog has another day.
Robinhood announced an IPO … Could it spawn a new hot sector? If so, stocks like Up Fintech Holding Ltd. (NASDAQ: TIGR), which I’d describe as “the Robinhood of China,” could be in play up until the IPO date.
My call? I think a lot of these stocks are going to run up in advance of the IPO then fizzle out after — sort of like cryptos did with the Coinbase Global Inc. (NASDAQ: COIN) IPO.
As of the pre-market, my number-one weak open red-to-green was Brooklyn Immunotherapeutics Inc. (NASDAQ: BTX). They just closed an offering, so they’ve got cash right now. Yes, it is a terrible stock, but they’re not going anywhere at the moment.
AnPac Bio-Medical Science Co Ltd. - ADR (NASDAQ: ANPC) has some cancer-related news. Cancer news frequently moves stocks. Despite the disgusting chart, this low floater could have potential as a dip and rip.
This stock refuses to die! Ocugen Inc. (NASDAQ: OCGN) just keeps hanging around. I’d suggest standard day trading approaches — look for potential dip and rips or afternoon VWAP holds.
I talked about Palantir Technologies Inc. (NYSE: PLTR) a lot last week. I still like it as a potential swing trade. I’m still looking for breaks of $21.50. Looking to enter? I suggest a standard swing approach — wait for a morning shakeout and look for above-VWAP entries and risk on VWAP fail.
And for what it’s worth, I also still like Peloton Interactive Inc. (NASDAQ: PTON) as a swing trade...
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