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Matt Thomas Watch List

6/14 Watch List – Closed ROX +13% & 1 New Stock to Watch

Update on My ROX Position:

Since late March, I have bought and sold a total of 2,620 shares of ROX. My average buy price was $1.72 and my average sell price was $1.94, resulting in approximately $575 total profit over a 10-week span. This initially appeared on My 5/15 Watch List.

Overall I can’t complain too much, but I left a few hundred dollars on the table by not exiting 2-3 days earlier. On 6/7, I actually had a sell order in for my remaining shares at $2.20 (which hit but never filled), and from there the stock started to flush. As a result, I made a few more adds instead above the $2.00 level, but once it moved through $1.90, I had to respect my stop and exit my position.

At this point, I’m looking for a potential re-entry around the $1.50 level, but I’m in no rush to do so. I’d like to see a few days of consolidation (sideways action) first. I have a feeling this one just needed a breather after the strong recent uptrend, but I want it to confirm support over multiple sessions before I pull the trigger on it again.

ROX Trade

My Open Positions as of Tuesday, 6/13:

Ticker Number of Shares Average Price
CYTX 200 $1.05
ITEK 450 $1.70
LQMT 682 $0.27
GRPN 150 $3.15
TZA 40 $16.44

Besides the ROX sell, I also sold 250 shares of CYTX from My 6/5 Watch List (entry: $1.00, exit: $1.10) and I’ve since added back 200 shares at $1.05. In addition to that, my TZA position has grown from 5 to 40 shares as the IWM becomes over-extended (in my opinion). [Link to All Watch Lists]

1 New Ticker on Watch – ZGNX:

ZGNX (Zogenix, Inc.)

Thesis: This is a stock that I caught a nice catalyst run-up on back in February. Twice I was able to capture double-digit percentage moves between the $8.00-$10.00 range. Those trades can be found here and here. This stock has now broken out into the $14.00 range with support at $13.00. With a couple phase 3 events approaching in the third quarter/second half of 2017, I can see the uptrend continuing over the next couple months.

Price at Close 6/13: $14.25
Buy Zone: $13.00-14.00
Disclosure: No Position at This Time

ZGNX Finviz Chart

ZGNX Catalysts


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