2/7 small cap mover notes.
In the PM:
PRCP - Craig hallum recommends "aggro buying" based on quarterly report. Says investors will start to notice the strategic plan working. But he doesn't raise PT of $9, reiterates buy rating.
PRCP - Faded a bit from its open at $7.50. It was suspicious that Craig Hallum didn't increase his PT.
MYOS - Up 30%. Started rising at 9:45. This was a good stock to follow, the fade earlier didn't make sense. Shares were bought by a single institutional investor at $4.25, yet the stock faded the next couple days to the low $3s. Often, an institutional investor knows the value of a stock better than the public. The play here was to not fight the initial downtrend, but keep an eye on the stock as it consolidates and wait for the next breakout.
PIP up 25%. At open, fell 15%. Then rebounded and is now up a lot. It makes sense, with the upcoming merger, these stocks have done very well lately.
MSI - I shorted right when the Citron report was just getting noticed by traders. Then others piled in shorting, so naturally that would cause a bounce. I should've gotten a quick profit there, and then look to re-enter as the report is legit. Later on, the stock came back down again, but not to the lod, it stayed flat in the mid $77s.
EYES - Up a lot today, 35%. Possibly from an article saying it's the age of "bionic humans", also because tomorrow is a rights offering, puts attention on the stock. This could make RWLK rally as well soon. RWLK has reached lows, good to keep an eye on this one.
BNTC - Up 32% so far on no news. Right out of the gate, a little after 9:30am it started to fly. This is a stock that had gone nuts on Jan 17th, went as high as $4.40. Then it faded, stayed a little under $2 for awhile, then on Feb 2nd, went nuts again to over $4. faded the next day to the mid $2s, stayed there for 2 days, then went nuts today.
ESPR up 13%. As expected, this stock continues upward after a huge day a couple days ago. Cardiovascular drugs are a hot topic right now, and ESPR is a very speculative stock in that sector, with plenty of cash.
Looking at the random breakouts today, EYES, MYOS, and BNTC, one has to ask, how often does a "fake breakout" occur? Meaning if I had acted on these breakouts in the morning, how often would the stocks retrace back down? That's a question I'll seek to find the answer to in my studies right now.
CXRX up 14% today. Incredibly, this stock is up for the 5 consecutive day in a row. There's slow, daily accumulation going on. I mentioned this stock in an earlier post.
DRYS down 10% so far today at 3:15pm. It gave up lots of its huge gains from yesterday. Makes sense, lots of longs don't want to hold through earnings, and made this decision at the last minute to sell. Also, there won't be any momentum trades today because they also don't want to take the risk to hold through earnings. Although I think earnings will be good, something special will be done for this maniacal stock. Of course, those who are short must also be worried about earnings as well. There's no telling what will happen with this crazy ass stock.
MSI has bear flagged for the past 3+ hours. See it selling off to new lows into the close.