Friday's JBP

What went wrong with ONVO and MFI, REE, UVXY updates

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Good morning,

I got beat up on the ONVO dump -$4,000. I let that consolidate all night and but the bull flag with about 20-minutes to close thinking it was going to hold and it did a full retrace on me. I canā€™t recall the last time I saw that happen ā€” unlucky there, I was darn near sure it would gap. Stinks to give back a good chunk of the +$6,300 on made the day before on WHLR but itā€™s part of the game ā€” got to take shots.

Headed into Friday I have swings on MFI at $.55 and REE at $2.84. Goal on both is 10-30% with auto trim and trail at 5%+. This means once Iā€™m up more than 5% I start taking profits. If I have 10,000 shares I might sell 5,000 at +7% and then let a quarter ride for 10-15% and a quarter ride for 20%+. Iā€™ve found this to be the best way to day and swing trade small-cap stocks. Stop loss should be 5-10% at most. ONVO was a bad example.

MSPR has a lot of momentum today but their cash need is high and overhead supply is high, so short sellers will be leaning into breakouts there. Itā€™s in play above $2.70 with range to $4ā€™s.

BON is a tiny stock that etched a big deal relative to its market cap. If it holds $.10 I think $.15 is possible there today based on the size of the contract.

ICCT is a Fibonacci retracement stock Iā€™m watching above $4.30 with range to $6-$8 if the rest and retest pattern works.

The special situation UVXY puts are up $2,000 so far with 7 of 10 contracts in the boat at $11.60 from the $9.58 alert. Iā€™d like to get $11ā€™s on the rest and book that $2,000 profit today. I also like more UVXY puts today, prolly the $43ā€™s expiring Friday 4/25 so look for more special situation trades.

LQMT is my long-term trade and itā€™s been hot lately after a top analyst changed his hinge prediction from titanium to LQMT. Hereā€™s all the videos and articles on the topic so far. Likely runs a lot over the next year. Iā€™ve been in this stock for a few years and buy and sell without notice. The end goal is up listing to the Nasdaq or share price of $1+, split adjusted, because thatā€™s what the CEOā€™s stock options are tied to last I checked. This is huge news with AAPL and the analyst who called this, Ming, is the top guy in this space for AAPL products.

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Jason Bond

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