The Spartan Stocks

Market View

Morning Watchlist 10/31/17

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TRXC – This was the popular headache stock for shorts two weeks ago. Their Friday crack through $3 looked like the end from a technical standpoint but yesterday they yet again found some unforeseen life. If they had a substantial rally I may consider a technical short, but I feel their volume has been adequate to get plenty of their warrants off and therefore there isn’t a great edge here.

MICT – This is an interesting ticker. They’ve filed plenty of prospectuses over the past year indicating resells of substantial amount of shares by a private investor. On the same accord they do need to regain a $1 bid for 10 trading days to be NASDAQ compliant. Today could be an interesting tell as to how motivated they are to keep compliant despite some ugly fundamentals.

SPCB – EPS winner yesterday that put up easily their best volume of the year and despite closing off highs of the day, was still near 52 week highs. Their cash situation isn’t great, but that doesn’t always translate to immediate selling particularly with such good volume. I have to look back through but I believe their F-3 is expired which made make this a bit tricky.

XNET – This China ticker had a monster October. Today they’re gapping again. Chinese stocks are oftentimes difficult to dig on, and they have an eery way of sustaining rallies for a very long time. Because of the terrific range I’ll look for a potential technical edge today, but if I do participate it’ll be very cautiously.

UVXY/VXX: There are some macro events upcoming that might stir the VIX pot a little. We’re going to be hearing who the new fed chief is sooner than later (all fingers point to Powell), we’ll get more details on the Manafort case, and tax reform will continue to dominate headlines. Whether any of this can conjure up a consequential VIX bump I don’t know, but after the past 8 weeks they might be due for some mean reversion.

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