Things change fast in the stock market.
I caught some flak for not talking about yesterday’s big mover Trxade Health Inc. (NASDAQ: MEDS) in yesterday’s session.
Here’s the thing — as of the premarket, it hadn’t made that big move yet. But as soon as it did, it was on my radar. You’d better believe I was talking about it at 9 a.m. in my SteadyTrade Team webinar…
It’s necessary to point out that these sessions aren’t about nailing every play. They’re about helping you as a trader put in the reps so that you can understand what to look for in potential plays.
Here’s what I’m watching today…
Once again — while we didn’t talk about Trxade Health Inc. (NASDAQ: MEDS) yesterday, that doesn’t mean you can’t learn from it.
Here’s your homework: I want you to look at yesterday’s chart. In particular, look at the move that happened right around/after yesterday’s Pre-Market Prep session. Internalize this pattern so you can recognize it in the future…
Not tired of meme stonks yet? AMC Entertainment Holdings Inc. (NYSE: AMC) could have Friday squeeze potential. My call is if it breaks $50 today, we could be back in squeeze mode...
Along similar lines, Clover Health Investments Corp. (NASDAQ: CLOV) is gapping too. It’s my top watch behind AMC. I like it over $16.
Crispr Therapeutics AG (NASDAQ: CRSP) has a lot going for it. It’s got cool technology. It’s got news. But the stock is just OK...
If it can break multi-month resistance, I might be interested over the $138 level. I may revisit this on my weekly or monthly watchlist since I see more potential for it as a swing trade than a day trade.
A follower asked about Draftkings Inc. (NASDAQ: DKNG). My take? It’s got some good qualities — it’s a SPAC, it’s a Cathie Wood play, and online gambling is hot.
However, despite online gambling being hot, the stock sector has cooled down — it’s just not as new and shiny anymore. If it can break through some key levels, the stock could be back in play. But for right now, I don’t really care.
Another follower claimed that Novan Inc. (NASDAQ: NOVN) is “exploding.” It’s got news. It’s got 15 million float, with four million shares traded in the premarket. Good volume, multi-month breakout.
I think it could have MEDS-style potential. I’ll be looking for post-9:45 a.m. breaks over the course of the day...
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By Stock Chat

where the coffee is hot and so is the chat

8 thoughts on “Pre market prep- stock market 06/11/21”
  1. Avataaar/Circle Created with python_avatars Big Dogg says:

    Thanks for the analysis Tom. Glad I found your channel.

  2. Avataaar/Circle Created with python_avatars Destiny says:

    MEDS -The Ripper pattern in your book (:

  3. Avataaar/Circle Created with python_avatars injectec says:

    Thanks for all you do Tom.

  4. Avataaar/Circle Created with python_avatars Grumpy John TX Redneck RC says:

    Did Y'alls See SENS Come-Back, Went From — $2.50 ish Up To $4.15 In After-Hours Last Night? I've Been Sittin On That Floatin Turd For Going On 2 Months Now? Butt Came Back With A 100% Profit Finally… LOL

  5. Avataaar/Circle Created with python_avatars billy bob says:

    $PLNHF gapping up

  6. Avataaar/Circle Created with python_avatars Pepe Epstein says:

    I get the hippie crack joke. We used to kill whippets back in the day. You can hear the same helicopters smoking PCP / angel dust too . I don't recommend either. I almost died doing both . Thanks for your pre market analysis.

  7. Avataaar/Circle Created with python_avatars BullsEye says:

    5% gain yesterday had.

  8. Avataaar/Circle Created with python_avatars Corsos&Stonks says:

    USA 🇺🇸!!

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