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.