From the Razor Trading Desk (Monday June 22nd, 2020)
There wasn’t a whole lot of momentum at the open in the small caps market today. We had a few solid morning gap ups but they proved to have failed breakouts and heavy sellers volume.
Even Ross Cameron at Warrior had a tough time making money day trading today, which is rare considering his long winning streak and over 1 million in profits already this year.
We always have to take what the market gives us good or bad. And this time, the small caps market gave us a lack of follow through.
- Sintx Technologies, Inc (SINT)
SINT NEWS: Positive Coronavirus Testing Results SINT was the leading gapper pre-market up over 250%. It was a nice move due to the 0.77 closing price on the previous session on Friday. At 3:00 AM CST there was a spike from the 0.77 area to $3.07 on a few hundred thousand shares of volume. The stock would continue its trend to $3.70 by 5:14 AM CST and then begin to pullback. There was only a small pop at the open and then one more move over $3.00. But the stock would fade the rest of the day and would hit a low of $1.87. Closing price $2.01. There was 141 million shares traded; Float 11.79M.
- Neonade, Inc (NEON)
NEON NEWS: Sensor Modules will be used in Yesar Holographic Products NEON opened at $8.10 and spiked to $10.60. pulled back to $8.60 and then continued on to hit a high of $10.70 before fading to $8.59 close to the close. Closing price $8.83. There was 2.5 million shares traded; Float 7.02M.
- Francesca’s Holdings Corp (FRAN)
FRAN was paused 3 times for volatility. This wasn’t a morning gapper but rather a ticker that hit the high of day momentum scanner on Trade Idea. The move started roughly at 8:38 AM CST from $2.70 and went all the way to a high of $7.48. There was a lot of overhead resistance in this area on the daily chart from from February and March of this year. As with most of these small cap stocks, it was only able to hold some of its gains as it is trading at the $5.00 area. Closing price $5.01. There was 10 million shares traded; Float 3.02M.
- Kirkland’s Inc (KIRK)
KIRK was on a nice, steady trend for most of the day. The stock opened at $2.04 and closed at $3.54. If you bought this stock at the open, you could have just chilled out with a margarita in your backyard pool because this stock wasn’t pulling back much below the volume weighted price (VWAP) the entire day. Closing price $3.54. There was 15 million shares traded; Float 3.02M.
“KIRK Held up nice on the day”
Kirkland’s (KIRK) – Daily Chart
Find out which stocks made the biggest moves on the Parabolic Spreadsheet – CARV, COHN, UONE, NETE, EDSA: Best Parabolic Stocks
