Stocks for 2-24

I usually start with stocks to add to your watch list, but today I will do the complete opposite.

On thursday I recommended PGNX thinking it was a undervalued pharmaceutical company ( it is). However, after Fridays news it is a stock I would stay away from. PGNX announced that it will be releasing common stock ( 7,608,696 million shares at $4.60) The stock plummeted to 4.61 ( no surprise since it was relatively close to the price the company put on the stock for its CSO ) 29 cents lower; nearly 6% from its previous close of 4.90. Usually when a company offers a CSO (Common Stock Offering) it is not a positive sign, it is a sign that the company needs money (cash) right away. This however is not uncommon for pharmaceutical companies as many companies struggle to generate revenue as they are in the early phases of getting their respective drugs approved. The offering will close out on FEB 26 so until then I would stay away from this stock.

For Samsung, stock holders don’t you find it peculiar how Samsung is no longer going to use Android for its New Smart Watch? Instead Samsung will be using ” Tizen ” a OP that Samsung has recently developed. Interesting news as the watch will be released in the near future.

Solar City ER are set to be released tomorrow. The energy company had disappointing reports last time around. It will be interesting to see if they bounce back. SCTY is currently sitting at 75.86. I recently sold 49 shares of SCTY at 75.12 ahead of earnings mainly due to the fact that I did not want to risk earnings. Looking at the option chain, the general public seems to think that SCTY will beat earnings. Call Volume for the SCTY significantly outweighs the Put volume for SCTY( mainly due to Tesla’s ER). Picture below is the option chain for SCTY. Look at the Call volume and then look at the put volume big difference. I have a Target of 83$ if SCTY hits on earnings. I will attempt to get in on it again if its available at that price

Screen Shot 2014-02-23 at 9.46.41 PM

Chipotle is another stock you guys should add to your watch list. Chipotle is currently expanding at record pace. On top of its recent earnings report. Chipotle is easily one of the safest stocks for the foreseeable future. BOLD prediction: If Chipotle plays its card right I could see them taking over the top spot that McDonalds for the king of the fast food industry. Back in December I had target of 550 for CMG (technical analysis). I will be buying 570-580 calls for CMG as that is my next target for the Food Giant.

As for our other holding stocks VJET,FNMA,PLUG, TRMR,

Just want you to know that I hopped back on the TESLA by purchasing 5 shares on Friday. (Sighs if only I never sold at 123.4001)

MARIJUANA STOCKS ARE NOW AT A CRITICAL STAGE. They are reaching a “stagnant” stage. 5% gains are being whipped out by 6% losses. A stock is stagnant basically because its going back and forth and ending up in the same place, or as some call it “the bubble.” The recent gains was all brought up by the hype and any momentum from last weeks news about the government pushing the banks to help MJ stocks is all but gone. There has to be a push in the pot sector forward or it will remain stagnant or at worse plummet. Personally I own shares of MJNA so I have motive for the stock to do well.

PENNY STOCKS FOR 2-24 MONK,GARB if it opens up at .0001 (or a nice gap between the B/A) would not want to risk anything. EXMT, LATF, IPRU, REAC, TFER. ALL penny stocks are done with technical analysis using methods such as resistance/ support.

General Disclaimer: All Statements are our opinions, invest at your own risk 

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About Mitchell Fung

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4 Responses to Stocks for 2-24

  1. tommyb1984 says:

    been waiting for this all weekend !!

  2. Info says:

    Hello Staff,

    Great job, great work, great dedication

    I have a suggestion for your stock picks. TRY and create a data base or some form of record keeping on all your predictions and recommendations

    Some columns should include: Recommendation date Stock Ticker Current stock price Outlook….bullish -bearish buy, sell, hold Price target Expected hold time for trade Stop loss if any

    Then you monitor your recommendations:

    Date target was reach Average profit Average hold time Average percentage return Average loss

    The idea is to get a percentage of how well your picking winning trades with your research and criteria.

    For example at …here it 1st our recommendations are 75% accurate 

    Keep up the good work

    Best, Trader Help 101

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