- GSX -Nice strong gap at the open as well but didn't pan out during the rest of the day.
- BNTX - This was a nice gap up in the open but the momentum wasn't sustained. It sold off slowly throughout the day.
- SMPL - I entered this stock way too early, it was right in the middle of a consolidation that didn't pan out well (aka it just stayed there).
BMRN - Looks like selling is slowing down a little bit. Looking to catch some momentum on the bounce.
HLIO - Same thing, looking for a nice strong gap at the open and an opportunity to catch it at the pocket.
SMPL - Selling doesn't seem to be slowing down but I'm betting on this to pop as it has been going down 4 days in a row already. However, what complicates things is that I am selling this today on the pop. SO I might not even take part in this stock.
Market Observations / Color
One thing that scares me a little bit is the fact that the strong performers are already on their 3rd/4th day of large gains. When I look at the SPY it seems to be peaking on its latest up swing as well. My thinking is that when traders lock in profits on the high flying stocks, it will echo into the other names as well. Sometimes I feel that the market is just waiting for a nice reason to sell off. WE'll see what happens.
I am okay with trading small sizes just to get a feel of the market.
Update: Sold all of my positions. May anticipation setups are not working. and most breakouts now are highly extended. Maybe better to stay clear for now.
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