We need to talk.
Some of you gave me flak after I changed my opinion on Alfi Inc. (NASDAQ: ALF) yesterday afternoon.
In the morning, I’d bashed it and called it a potential short. But in the afternoon, things changed.
There was a sudden increase in volume, and it broke the high of the day.
You’ve gotta evolve when the play calls for it. I changed my plan on ALF.
You’ve gotta remember that short-term trading isn’t about making one decision and sticking to it. It’s about recognizing patterns and price action and adapting as needed.
Another important thing to remember? ALF is a penny stock.
Believing in penny stocks is a very bad idea. These companies tend to be sketchy. That’s why I consider them trades — NOT investments.
Here’s what I’m watching today…
My rant aside, I am indeed still watching Alfi Inc. (NASDAQ: ALF) today. In fact, it’s one of my top watches.
As of the premarket, I see it as a potential red-to-green into the afternoon…
A follower asked about Cleveland-Cliffs Inc. (NYSE: CLF). This is a copper and natural resources play. It’s also slow-moving and kind of boring. I’d rather focus on faster movers…
Another top watch today? Torchlight Energy Resources Inc. (NASDAQ: TRCH) ... I’ll be looking for breaks of last night’s highs. I think that over $6, it could be a continuation of yesterday’s squeeze…
I remember Spi Energy Co Ltd. (NASDAQ: SPI) from last fall … This former squeezer has potential, but I’d strongly warn against touching this one before 9:45 a.m. Let it prove itself!
Finally, AMC Entertainment Holdings Inc. (NYSE: AMC) remains a watch. It could be interesting if it goes back over $60. But you never know with these meme stonks so I’ll wait and see.
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