MOMO Pick for 5/28


Good evening everybody. Our pick for the 28th is not a technical or fundamental play, it is what we call a momentum play. A momentum run offers very high reward along with very high risks. Always remember the 3 Day Rule in which a stock can run for 3 days… but after the 3rd day, It will plummet and it will plummet fast.

SPEX- SPEX exploded Tuesday as the stock rose 96% and another 14% during after hours. SPEX exploded due to the fact that the U.S. Senate and Senate Judiciary Committee Chairman Patrick Leahy removed a patent reform bill from the committee’s calendar due to a lack of bipartisan support.

This is obviously huge news for SPEX and I expect SPEX to run a few days. Best case scenario I can see SPEX running till next week. I have a $5.50-$5.80 target on SPEX. My estimations seem generous considering due to the fact that the buzz from Twitter, Investorshub and other social media outlets have SPEX going to 8-10$. 

As for the charts. SPEX has a 50 day MA of 2.37 and a 200 MA of 6.70. The 200 MA is more of an indicator for me as SPEX has a 52 high of 27.86. Imagine if the news could push it to that level? 27.86 is realistic in the long run but for this particular momentum 27.86  is not realistic at all. 

Anyways thats all for tonight. Always remember to take profits and don’t forget to stay connected the news in case anything foreseeable happens ( good or bad).

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

We in no way claim that we have investigated the financial , accounting, business practices of the companies that we have profiled. As a result it is recommended that you seek the guidance of a financial consultant or advisor prior to investing in any stock that we profile. Hereitfirst recommends that anyone trading or investing in securities, should do so with caution and consult with their stockbroker or financial advisor before doing so. Past performance may not be indicative of future performance. Day trading is considered highly risky and trader must accept full risk for this venture. Hereitfirst is not liable for any losses or damages, monetary or otherwise that results from buying or selling on the information found in this website or it’s e-mails. We may be long in some of the stocks that we recommend. However we do not make any recommendations to buy or sell any security. The only thing we recommend is consulting a financial consultant before you trade.

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

We in no way claim that we have investigated the financial , accounting, business practices of the companies that we have profiled. As a result it is recommended that you seek the guidance of a financial consultant or advisor prior to investing in any stock that we profile. Hereitfirst recommends that anyone trading or investing in securities, should do so with caution and consult with their stockbroker or financial advisor before doing so. Past performance may not be indicative of future performance. Day trading is considered highly risky and trader must accept full risk for this venture. Hereitfirst is not liable for any losses or damages, monetary or otherwise that results from buying or selling on the information found in this website or it’s e-mails. We may be long in some of the stocks that we recommend. However we do not make any recommendations to buy or sell any security. The only thing we recommend is consulting a financial consultant before you trade.

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About Mitchell Fung

Forex ,Stocks & Option Trading Contact Us if you have any more questions. Email- Hereitfirst@gmail.com Twitter- Hereitfirst_ Instagram- Hereitfirst Paypal Email for donations -desiredmaya@gmail.com
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