Here’s what I’m watching today…
Clover Health Investments Corp. (NASDAQ: CLOV) is my top watch today. It’s a SPAC play. There are a ton of sketchy hit pieces on it. Its float is 80 million and it had already traded 30 million shares in the premarket.
If and when it breaks all-time highs, everyone holding will be green and everyone’s gonna be happy. As of the premarket, I loved it as a dip and rip in the morning. Then, if it hugs VWAP, I’ll be looking for breakouts above VWAP into the afternoon.
This one’s an avoid for me … Washington Prime Group Inc (NYSE: WPG) has been stuck sideways for quite some time. Plus, it’s related to shopping malls — a dying sector if there ever was one. Between the chart and the sector, I’m not interested.
It’s near 52-week highs and in the oil and gas sector … But I have some qualms with Nextdecade Corp. (NASDAQ: NEXT). I like the big move, but I don’t really see any news.
But even more troubling? Since September it has spiked and failed about four times. Remember, history doesn’t repeat but it rhymes. I’m in no hurry to jump on this one because of the chart history. For me, it’s an afternoon-only play.
Cal Bay International Inc. (OTCPK: CBYI) is an OTC that closed around 52-week highs. But it’s got no volume, so it’s not what I look for in a gapper...
Electric vehicle (EV) plays are back! FuelCell Energy Inc. (NASDAQ: FCEL) and Plug Power Inc. (NASDAQ: PLUG) both had a great day yesterday.
I’ll be taking standard approaches to these potential plays. I’ll look for pulls to VWAP for support, then dip and rips or afternoon VWAP holds.
A follower said that Prothena Corporation PLC (NASDAQ: PRTA) “looks primed.” Yes, it’s a nice breakout and a beautiful chart featuring breaks then consolidation.
But here’s my problem. It’s simply too illiquid. If it’s barely trading on a breakout, there’s not enough liquidity. I can tell you from experience, it sucks to be stuck in an illiquid stock...
Weekend Watchlist pick SemiLEDs Corporation (NASDAQ: LEDS) is still on my radar. As of the Pre-Market Prep session, I was seeing a double top at $28.50. I’ll be looking for afternoon breaks of that level. This is definitely a top watch.
How about AMC Entertainment Holdings Inc. (NYSE: AMC)? Yep, it’s still got potential.
Yesterday this stock was just collecting shorts — then it ground up with a big 2 p.m. candle. It was trying to break, and the big pullback just suckered in more shorts.
I think the $60 level will be important for this stock. If it breaks $60 and shorts are smart, they’ll get out. I talk about risk levels on the current VWAP and why I think this is an afternoon-only play...
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By Stock Chat

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9 thoughts on “Pre market prep- stock market 06/08/2021”
  1. Avataaar/Circle Created with python_avatars ron rocheleau says:

    Do you plan on doing a pre-market update everyday? If so, what time?

  2. Avataaar/Circle Created with python_avatars Maximus "Pure Blood" Muchimus says:

    The man is back! 💪

  3. Avataaar/Circle Created with python_avatars Dean HasSpoken says:

    Yo Tim! How do I get my hands on a hard copy of your book?

  4. Avataaar/Circle Created with python_avatars Frantzy Francois says:

    He is such a reliable and responsible person, when he does not show up, people are really worried.

  5. Avataaar/Circle Created with python_avatars Ra He says:

    Buenoa dias.

  6. Avataaar/Circle Created with python_avatars ThiisYIRun says:

    I was seriously concerned! Been on the pre-mareket prep since December! Glad you're good Tim!

  7. Avataaar/Circle Created with python_avatars Arthur Isa says:

    Thanks tim! take care

  8. Avataaar/Circle Created with python_avatars El PAN DE CADA DIA !!! says:

    Pura vida!!! Thanks for sharing

  9. Avataaar/Circle Created with python_avatars $tock $niper says:

    Love you Tim, glad to have you back! Thanks for everything you do!📈✊

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