So I made another +$3,753.35 Tuesday from an overnight swing on AMZN calls in the Millionaire Roadmap. My momentum trades on CNET and HEAR both faded across the session so I kept my losses small around -5% there.
I’ve now made +$129,482.51 in the last 3-weeks or more than doubling $100k of tradable funds.
And while that’s exciting, I’m even more excited about the IWM making a move for $160, which if broken, would trigger an uptrend for small caps. My guess is that we’ll need to revisit the rising demand line once more before the breakout but I can be patient, because momentum in small caps means I can pile up profits at an extraordinary pace and you know I’m looking forward to that cheddar!
Headed into Wednesday I have swings open on APRN, HTGM, ARDM and STG. The goal on swings is always 5-20% in 1-4 days, rinse and repeat.
—– Related —–
Become a penny stock millionaire with this BRAND NEW EBOOK from famed trader Jason Bond: The Ultimate Penny Stock Playbook.
U.S. stock futures are rising again Wednesday after the major indices broke out of consolidation to the upside. With the VXX likely to break a key level of support today, this could mark the end of the volatility trade for quite some time and the start of a new uptrend as I noted above.
Let’s take a look at the swing trades to start.
APRN – Shares started to bounce Monday on heavy volume as options sweeps hit scanners. With earnings coming up in early May, no doubt this depressed stock is heavily shorted and likely at a bottom until the call. I’m looking for a move to the middle $2’s for profit and am currently 1/2 size in my position.
HTGM – History of huge 100%+ spikes in a short period of time. Nearly oversold for about a month after falling from about $6 to $3, so basically my oversold chart pattern on a near-term basis, continuation pattern across this 6-month chart. In play in this base with the MACD crossing the signal line, often an indicator of a big move to come. Something around the MA(50) sure would be a nice bounce. I jumped in Tuesday due to the volume increase, which hasn’t been seen for a month.
ARDM – Big jump in volume Tuesday on no news. Short cover didn’t add up in my mind, not after 3-months of basing without a pop. Instead I like to speculate someone knows something and a pop like that could be news coming. I went tiny on this since guessing news is hard, but I’ve got pretty good odds looking at charts and hitting good news in 1-4 days, so we’ll see if this rounding is in fact just that or just a technical pop after months of boredom.
STG – Oversold chart pattern and a big opportunity stock in China, the IPO came in around $12, it went to nearly $15 then sold off. Now well into oversold with the MACD rounding, I like this for a move to double-digits in the near term. StockCharts doesn’t reflect the oversold condition and momentum well, so I’ve linked the FINVIZ chart for you here so you can see what I see.
Onto new ideas.
I think bitcoin gets moving again into the weekend and if it does, here’s the 3 I like best right now from the bitcoin small cap stock scan.
TEUM – Lots of tradable action on this one in the last 6-months and my favorite bitcoin stock into the weekend, as of right now anyway, due to the nice rise in volume Tuesday, MACD about to crossover the signal line, solid base above $2.20’s and big upside to middle $3’s if it trends, which it’s done many times in the past.
NXTD – This is a sleeper consolidation play and due for a big move. I like it above $1.80, it’s probably boring until it’s not, but I called the same move on NETE back in March just before it went from $5.22 to $14.38, as seen on the chart below this one. Bitcoin would need to be running for me to take the trade though, as that would provide a sure backstop to my entry.
NETE – With Jon Najarian added to the board of directors recently I think this is one to watch each and every time bitcoin makes a run. Right now it’s in play on a higher low setup above $8 for a breakout above the recent $10.30 high. Has range to $15 as seen on the chart and catalysts that could trigger big moves.
[Ed. Note: Jason Bond runs JasonBondPicks.com and is a swing trader of small-cap stocks. In 2015 he earned a 180% return on his money. Then in 2016 he turned a $100,000 account into $430,000! Discover How He Did It]