Watchlist Review: Danaos Corp and Seaspan Corp Were Perfect Trend Reversal Stocks
Reviewing previous watchlist and how they performed.
DAC turned out to be perfect trend reversal. First red day was followed by another one. As evident, once the volume fades and selling starts, more selling could follow.
SSW has a similar chart as DAC and went through similar trend reversal. However the drop was not a big as for DAC. Still potential short below 10$
HEAT also dropped in the morning panic to recover it all back in the afternoon. This is not good sign for shorts. However the volume has died down. Maybe we could enter a period of sideway movement.
DPTR could not hold on to its 4$ support. With fundamental weak news on its oil production, DPTR took a big 44% pounding. However it was already down alot in premarket and was then more risky to short.
GTN head faked everyone. It dropped in the morning to suck all the shorts in, just to go much much higher. It hit @3.50 level before giving up its gain in the afternoon due to profit taking. I shorted @2.99 and covered @2.73 for quick scalp.
NCT did the exact samething as GTN. Another huge spike with good volume.
ONCY was choppy all day, as bulls and bears fought it out to a dead draw. Waiting for break below 3$ to short into. Otherwise this thing could keep popping.
PSDV keeps spiking with good volume. Still just watching
PETD could be potentially forming double top. Weak all day and could be weak even tomorrow. Very slow boring mover though.
