Review of Open and Closed Positions:
Link to Last Week’s Watch List
Link to All Watch Lists
Open Positions
CSCO (Cisco Systems, Inc.): I jumped into this one in anticipation of a breakout above the $32.50 level and it’s been playing out quite nicely thus far. I’m in at an average price of $32.44 and looking for the $34-35 range for profit. Strong company fundamentally, but this was mostly just a technical play. Looking to cash-in for 5% at some point next week.
ROX (Castle Brands, Inc.): Trying my hand at this one again. I keep feeling like it has tremendous upside and it’s only a matter of time until good news hits to send it soaring above $2. Right now $1.25 is acting as solid support and I’m expecting this one to reverse the recent downtrend. I’m in at $1.35 looking for 10%+ upside.
GEVO (GEVO, Inc.): This stock made a huge move on Tuesday from a low of $.60 all the way up over $.90. It retraced a bit on Friday where I entered at $.73. This company is notorious for offerings right after good news is released, so I won’t be looking to hold this very long. The main reason for the trade is the catalyst – a commercialization agreement with Praj Industries to be finalized before the end of the quarter.
LQMT (Liquidmetal Technologies Inc.): I missed my ideal re-entry on this one in the $.30-.34 range. I ended up chasing it up and purchasing shares at an average price of $.41. I think this stock still has a lot left in the tank considering there are still rumors of the iPhone X having a liquid metal backside – check it out at Patently Apple. The iPhone X will be released in early November.
FNMA (Federal National Mortgage Association): I’m holding shares at an average cost of $2.96 and giving this a lot of room to run. I kind of chased this one up as well, but it has massive potential if Fannie Mae is removed from conservatorship and returned back to shareholder hands. If pending lawsuits go in favor of stockholders, it can restore shareholder rights and provide them with instant value to the tune of a $10+ share price.
Closed Positions
WTW (Weight Watchers International, Inc.): I stopped out for another 2% loss. This one’s still riding the 50-day moving average, but I got out of the trade when it dropped below. Just can’t seem to catch this one at the right time, but have to stay disciplined and keep losses small.
CDTX (Cidara Therapeutics, Inc.): Classic Biotech Catalyst Swing Trade taught by Kyle Dennis at Biotech Breakouts. Strong support in the low $6’s, but seemed like it didn’t want to drop below $6.60 last week. I exited on Friday at $7.35 for a 9% gain. Shares hit a high of $7.75. Company has a Phase 2 catalyst scheduled for 4Q.
New Stocks to Watch
TXMD (TherapeuticsMD, Inc.): Nice up-trending chart with support above the $6 level. Short float is above 35%, so this could squeeze shorts if it continues grinding higher. I couldn’t find any upcoming catalysts on it at BioPharmCatalyst, so this would essentially just be a technical play. Looking for entry above the 50-day moving average with a stop loss below it and a profit target of $7-8.
AEZS (Aeterna Zentaris, Inc.): This one is flagging out with support around $2. They also have an upcoming catalyst event toward the end of December for their Adult Growth Hormone Deficiency drug, Macrilen. PDUFA date scheduled for 12/30 provides an exact timeline for the trade.
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