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Another busy day in the market!
I know I’ve said it before, but “sell in May and go away” simply does not apply in 2021. We’ve had a ton of market action for the past few months, and I see zero signs of a slowdown.
Here’s what I’m watching today…
Well, Novan Inc. (NASDAQ: NOVN) was glorious yesterday over $17. It was one of my top watches yesterday. It was also featured on the Weekly Watchlist.
I’d love to see a weak open red-to-green, but I also wouldn’t be surprised if it doesn’t do much today.
Be sure to take a look at yesterday’s chart, particularly in the premarket and into the open. Not only can you learn from it, but there’s another ticker that I think could follow a similar pattern today…
Could Rapt Therapeutics Inc. (NASDAQ: RAPT) be today’s NOVN? I’m hoping that there will be a bounce off of green to red this morning. I’ll be watching for the bidders to step in and create a 9:45 a.m. or later move.
I’m still watching AMC Entertainment Holdings Inc. (NYSE: AMC), too. The float is still locked up — that means continued potential.
Trading with a small account? Consider the rule of 10. Don’t know that concept? Check out this StocksToTrade blog post...
A follower asked about Cleveland-Cliffs Inc. (NYSE: CLF). I generally like it as an infrastructure/inflation play...
But here’s my problem: When I look at the chart, I see choppiness, attempted breakouts, and hard pullbacks. I’m not bashing it, but I think there are better trades out there.
Talk about corporate BS! When I tried to identify a catalyst for Alfi Inc. (NASDAQ: ALF), I just found a press release with a bunch of buzzwords that didn’t say anything of substance...
This one could actually be a contender for short selling. I’d wait for it to set a high of the day and look for a late-day short fade opportunity.
Clearside Biomedical Inc. (NASDAQ: CLSD) is gapping up to 52-week highs. It’s a little bit higher float, but as of the premarket, there was an 8 a.m. press release and it had already traded six million shares. I see it as a potential dip and rip all day.
Another press release, but nobody cares … Lexaria Bioscience Corp. (NASDAQ: LEXX) has news, but it wasn’t moving shares in the premarket. In my opinion, it’s too illiquid and the chart is too choppy.
Nothing dies! ContextLogic Inc. (NASDAQ: WISH) could still be in play today. I’ll be looking for breaks of $12.20 with risk on VWAP.
Torchlight Energy Resources Inc. (NASDAQ: TRCH) has some news about a dividend. It’s gapping to 52-week highs. It’s kind of low float, with nine million shares traded in the premarket. I’ll be looking for high-of-day breaks with risk on VWAP.
With bank plays like Broadway Financial Corp. (NASDAQ: BYFC), I just don’t see any edge. I don’t see any good reason for the moves.
You don’t have to agree with me, but I think stocks like this and Urban One Inc. Class A (NASDAQ: UONE) are ignored...

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