The only thing hotter than Arizona is this market…
Shorts are getting burned…
And we’re seeing countless opportunities pop up.
The key is to stay patient, take profits when you see them, and focus on risk management first.
I typically have about 10 to 15 stocks on my watchlist.
But instead of trying to overwhelm you, I’ll share with you the three that might offer the most fireworks.
Table of Contents
#1: Colombier Acquisition Corp (NYSE: CLBR)
The ticker symbol CLRBR is an anti-woke company.
It had a monster move yesterday after Donald Trump Jr. mentioned them in a Twitter post.
If you want to support the parallel economy, you can do so by supporting $CLBR on the NYSE!
It’s about time we the people fight back against the corporations who attack our values and beliefs.@officialpsq / $CLBR gives us the ability to do that! https://t.co/ANEU5fbvwn
— Donald Trump Jr. (@DonaldJTrumpJr) July 19, 2023
It strongly reacted following the Trump Jr tweet and then sold off sharply.
I saw it as an opportunity to buy the dip, thinking the news would stick, so I bought 1,500 shares at $10.47.
But it didn’t work for me, and I bailed pretty fast, cutting losses at $10.36.
Of course, the stock went above $15 shortly after I exited…
But I handled it well.
I didn’t overtrade, try to jump back in or do any revenge trading.
I tell my students to stay disciplined, and although this didn’t work out for me, it’s a stock that I want on my radar for today.
The strategy I will be looking to play is a panic dip buy.
It had a huge move yesterday…so I want to see some HEAVY selling pressure even to consider it.
Also, given the volatility and relatively high stock price ( I prefer trading stocks under $10), I won’t be sizing into this trade too big…IF I decide to trade it.
#2 Recursion Pharmaceuticals (NASD: RXRX)
This company cut a deal with Nvidia about a week ago.
Shares initially spiked above $18 in the pre-market following the news. But then it sold off, going back to $10ish.
Well, it has had an amazing week…and the chart looks solid.
Again, it’s getting to the point where it’s a little high-priced for me.
But I will be watching this for some potential dip buys.
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And like CLBR, I would need to see this stock get hit with some heavy selling pressure before considering it a play.
#3 Applied Optoelectronics (NASD: AAOI)
I’ve been trading this a lot because I like the chart.
It has been a multi-day spiker…and like the other two setups I mentioned, I would like to play this on intraday panics.
I like it for a potential dip buy opportunity.
And since this one isn’t catalyst-based like the two mentions above, I like it even more because it’s more of a price action trade.
That said, this symbol has shown a lot of “bounce-ability.”
Last Word
In this post, I talk about dip buying…
To help you better understand this concept, check out the video below:
Now, if you’re ready to join one of my free workshops, that’s easy.
All you have to do is signup for one of my free live classes
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