Last week, I wrapped up my 15th annual conference in Las Vegas where I showed hundreds of traders how my strategy worked, LIVE.
If you want to be successful in this market, you must know how to spot some of the best plays in ANY market!
I’m tired of seeing students struggle with where to start every day they trade…
That’s why today, I’ll be sharing with you four stocks I’m keeping a close eye on…
How I found them…
And what my trading plan is.
Let’s get going!
Table of Contents
Stock #1 – LianBio (NASDAQ: LIAN)
Every morning I scan the market for some of the biggest percent gainers with volume…
And that’s what helped me find all of these plays I’m watching this morning!
Believe it or not, if you’re trading with a small account, you have a HUGE advantage when it comes to trading these types of plays.
LIAN continues to blow my mind…
Just take a look at this chart!
Source: StocksToTrade
In just a few days, LIAN went from $1.50 to $4 a share at the time I’m writing this…
That’s over a 160% move!
These over-aggressive short sellers are continuing to try and guess where the top is, and every time they’re wrong!
LIAN continues to close higher day after day…
Eventually, these short sellers will be right, there’s no denying that…
And typically when you have these multi-day runners, they are eventually going to panic.
That’s why I’ll be looking for that early morning panic, but I’m also going to be very cautious with this play…
We’ve seen it where these short sellers get it right and there is no bounce at all.
So be meticulous and look for key areas where LIAN may bounce.
Remember to take the meat of the move, I typically look for a 5-10% profit…
And not to be greedy because I do expect this stock to fall back to the $1.50s.
Stock #2 – ImmunityBio, Inc. (NASDAQ: IBRX)
IBRX had a remarkable surge in trading volume over the last couple of days.
The last time this happened, IBRX soared from around $3 per share to $7 in just a matter of days, catching those overly aggressive short sellers off guard…
That’s roughly a 133% move!
Let’s take a look at the chart…
Source: StocksToTrade
Knowing how IBRX performed last time there was a surge in volume, I’ll be keeping that in the back of my mind to see if it can catch these overly aggressive short sellers off guard again.
If IBRX can break through that key $3 resistance area, it may be off to the races…
And I’ll need a convincing breakout if I was going to trade it…
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But I’ll also be keeping a close eye on the $2 area to see if the stock can hold and bounce off its lows if we were to have a solid morning panic.
Stock #3 – SeaStar Medical Holding Corporation (NASDAQ: ICU)
I’ve been closely following ICU for the past couple of weeks now, and when you take a look at the chart, you can see why.
Source: StocksToTrade
Most newbies tend to forget about a stock after they trade them…
But as for me, I don’t like to. Looking at the chart above you can see that week-over-week ICU continues to trend higher…
And what I’m currently observing bears a striking resemblance to a pattern we witnessed a few weeks ago.
On October 18th, ICU surged higher but was batted down around the $0.88 mark.
Then on October 19th, ICU managed to break through that resistance level, effectively turning what used to be a resistance level into support.
Right now, ICU faces another battle, resistance around the $1.30 mark.
You can see that in the chart below…
Source: StocksToTrade
I’m not inclined to chase ICU higher as it appears that shorts may be in control with this one…
But I’ll be keeping a close eye to see if there is a solid morning panic and for ICU to bounce off what was a previous resistance area, now acting as support.
Stock #4 – Tempest Therapeutics, Inc. (TPST)
You may remember this stock from a StocksToTrade Breaking News Alert the other week…
Source: StocksToTrade Breaking News
And since it soared over 3,000% It’s still up, and it still hasn’t dropped back to its lows…
Currently, it’s still trading above the $4 mark at the time I’m writing this, just take a look…
Source: StocksToTrade
I’ll be closely keeping an eye on this for a potential dip-buying opportunity…
As volume continues to drop, I’m not feeling confident enough that it will have enough volume and momentum to break through that $6 range.
Keep an eye on TPST to potentially panic below the $4 mark, but remember to be careful and cut losses quickly if there isn’t a bounce…
But if it’s to trap in shorts again, look for it to potentially squeeze even higher and do it with a small position size.
Final Thoughts
If you are struggling with where to start in the morning or aren’t comfortable with the plays you’re finding…
I recommend you join our FREE trading session every week!
This will allow you to better understand how this market works, what plays we are watching, and what our game plan is.
Don’t try to guess when to buy or sell…
And make sure you know how to take advantage of these opportunities the right way!
I’ll see you in chat.
-Tim
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