Welcome to another Friday in a market that WON’T QUIT.
On Wednesday after the bell, Meta Platforms Inc. (NASDAQ: META) and Microsoft Corporation (NASDAQ: MSFT) both posted better than expected quarterly earnings.
But the news that stole the show was the updated capital expenditure from each company on AI …
- META expects to spend between $66 billion and $72 billion.
- MSFT expects over $30 billion in the next quarter.
Both stocks rocketed to new all-time highs on Thursday. And they brought the entire market with them.
As a result, we saw HUGE plays in our small-cap sector. For example:
- Soligenix Inc. (NASDAQ: SNGX) spiked +300%* after announcing positive Phase 2 trial data for its treatment of Behçet’s disease.
I sold my position at $2.62 per share. It shot past $5 before noon!
There’s so much opportunity in the market right now. And we’re just a few hours away from the biggest trade of the week …
Every Friday afternoon my students and I look for a specific trade setup in the market.
The incoming weekend inspires a unique price action.
And in this red hot market, today’s setup could spike to insane heights!
Watch my video below for the key afternoon entry:
It could come from this week’s biggest stock spikes …
Table of Contents
My Friday Watchlist
Our goal is to buy strong stocks on Friday afternoon and sell them into the Monday spike, after other traders find these setups over the weekend and push them higher.
Before we get to the stocks that I’m watching from this week … Understand that today’s weekend-trade could also come from stocks that spike today.
Which means they’re not on my watchlist yet.
Make sure that you check the “Top % Gainers” scan in StocksToTrade to find the market’s hottest runners everyday.
Now for my Friday watchlist:
#1: Soligenix Inc. (NASDAQ: SNGX)
I’m still watching this runner from Thursday.
Read more about the catalyst here: SNGX Rips on Positive Drug News …
The share price is still low enough for me to build a large position. And the momentum could continue due to the low float: There are only 3 million shares.
If the price action holds up and matches my weekend pattern, I’ll make a trade.
Even at the $2.90 price level shown on the chart below, the stock is still up 130%*.
Every candle represents one trading minute:
#2: Applied Blockchain Inc. (NASDAQ: APLD)
This is a crypto/AI stock with a history of spiking.
It ran 120%* to start the month of June.
And to end July, it spiked 40% toward the June highs after it announced earnings that beat expectations.
It also paired the earnings announcement with a $7 billion revenue target to come from AI data center lease contracts.
Take a look at the chart below. Every candle represents one trading day:
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#3: VerifyMe Inc. (NASDAQ: VRME)
On Wednesday, July 30, during after hours, the market learned that a subsidiary of VRME entered into a business agreement with multiple UPS organizations and locations.
A partnership with a company like UPS is big news for a penny stock.
The share price already spiked 110%* since the announcement. And it held gains on Thursday.
On the chart below, every candle represents one trading minute:
This weekend’s runner could come from any of these stocks.
Or any of the new stock spikes today.
The key is …
Does the price action match this pattern?
Stay disciplined today. Wait for the trade to come to you.
Cheers
*Past performance does not indicate future results
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