Video: Daily Market Recap

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Today we had a couple of BIG gappers.  We had Celladon Corp (NASDAQ: CLDN) gapping down over 70% on news, Synthesis Energy Systems, Inc. (NASDAQ: SYMX) gapping up over 70%, and Can Fite Biopharma Ltd (NYSEMKT: CANF) gapping up about 30%.  These three names are all small cap stocks that have huge potential.  I was particularly interested in CLDN and CANF.

.  From the Watch List of Today’s Hot Gappers:

$CLDN – (12mil share float (20% short) and gapping down 75% – News CLDN: Celladon – The company announced news of failed Phase 2 Mydicar trial data. Gapping down 74% with a 12.6M share float.

$SYMX – (59mil share float) – Watching possible long

News: SYMX: Synthesis Energy Systems – John Paulson, hedge fund manager of Paulson & Co., a 19B hedge fund establishes a 12% stake. Gapping up 70% with a 59M share float

 $CANF – (8mil share float) – watching long over $2.80

News: CANF: Can-Fite Biopharma – The company announced news regarding positive results from further analysis of Phase II/III Psoriasis trial; Data suggest CF101 as potential first-line systemic therapy for patients with moderate-severe psoriasis. Gapping up 32% with an 8.8M share float.

At the opening bell at 9:30am I had orders ready to fire off.   I was watching CLDN long over $3.00 with a 2000 share position and CANF long over $2.80 with a 2000 share position.  On both names my target was to capture a quick 10-20 cent move, sell half, and adjust stop to breakeven on the balance.  I ended up not taking any trades on CANF because the volume out of the gates was too low.  I decided instead to grab CLDN and took 2k shares and then doubled to 4k shares.  I wanted to see a quick pop over $3.00 but it ended up being a small loser.  I lost 4 cents.  (4000 shares x 4 cents = $160 loss).

By 10:30am CANF had volume back in the name and I was ready to take a trader over $3.00.  I grabbed 4k shares long at $3.00 with the target to sell 1/2 at $3.10 and adjust my stop to breakeven and use a trailing stop for the balance.  I trailed this all the way up to 3.50 for a 6% profit in less than 1hour.  Total profit on this trade was $746.80 which gave me just under $600 total profit for the first 2hours of trading.

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Ross is a US equities trader with a focus on short term momentum bursts. He obtained his Bachelors Degree in Architecture and began his career working in Manhattan at a design firm. During that time he invested part-time, actively followed the stock market, and focused on refining his trading skills. After 10 years of part-time trading Ross knew the key to success as a full-time trader would be Risk Management, Choosing the Right Stocks, and Trading the Right Chart Patterns. He focuses each day finding stocks trading on heavy volume due to a catalyst such as press releases or earnings. He trades these stocks using simple geometric patterns and strict risk management techniques. In 2012 Ross began teaching the fundamental elements of trading in his Live Day Chat Room He continues to trade live in his chat room and teach trading courses in the evenings. Ross is the chief editor at Warrior Trading News. You can contact Ross at ross@warriortradingnews.com Legal Disclaimer – This is not meant to be a recommendation to buy or to sell securities nor an offer to buy or sell securities. Before selling or buying any stock or other investment you should consult with a qualified broker or other financial professional. The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. The author wrote this article themselves, and it expresses their own opinions. The author has no business relationship with any company whose stock is mentioned in this article nor is receiving compensation from any of the companies mentioned.

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