Howdy traders, it’s Bryce here.
If you were unaware, Friday trading can be especially volatile and bullish.
In an already bullish market, that means two things …Â
- There are more opportunities for small-account traders like us.
- If there’s any day to pay attention, it’s on Friday.
I’m glad you’re reading this letter today because successful Friday trading comes from preparation.
Lots of people think they can wake up at the market open and snag a runner. It’s not as easy as it sounds.
The price will move fast tomorrow. If I’m unprepared I could miss a play.
That’s why, today we’ll cover some key tickers to keep an eye on when the market opens tomorrow.
Understand, there will be some stocks that run today that I’m unable to include on the watchlist due to the time of this letter.
Instead, I’ll show you how to identify those tickers.
Every trader should have the goal of self-sufficiency.
And I’m here to nudge you every step of the way until things click.
Let’s get into it …Â
Hot Stocks
The main volatility from Wednesday came from a used car stock.
Vroom Inc. (NASDAQ: VRM) launched over 25% intraday and traded near the highs for 2023.
It sounds like an odd runner, but I’ll explain.
VRM is acting as a sympathy play.
That’s when a low-priced stock mimics the price action of another stock in the sector.
VRM is spiking because Carvana Co. (NYSE: CVNA) launched over 40% with bullish news that the company is set to reduce debt by $1.2 billion.
That’s an even more impressive move when you realize the stock was trading around $40 to start the week. And to begin 2023 it was under $5 …Â
There’s a chance VRM continues the run. But make sure to keep an eye on CVNA for sympathy price action.
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If CVNA falls apart, VRM will likely follow.
I’m also watching Frequency Therapeutics Inc. (NASDAQ: FREQ) closely (biotech stocks are still hot).
The price spiked more than 100% on July 14, 2023, after the company announced merger news.
Right now it’s consolidating above major support at $0.60.
That sideways price action is a hint the price could push higher. And our chances only improve as we move into Friday.
The Tickers Spiking NOW …Â
This letter comes out on Thursday in the A.M.
As I referenced earlier, there are likely stocks spiking right now that could give us quality trade opportunities both today and Friday.
Those stocks aren’t included on the above watchlist.
But you can pull up StocksToTrade’s scanner to find the hottest stocks pretty easily.
I’m looking for plays that have …Â
- Spiked at least 20% on the day
- A price between $0.01 and $10
- A volume of at least 1 million shares
- And recent news
StocksToTrade can scan for all of those factors and more.
It also displays data in real-time. Lots of stock software shows chart data that’s delayed by 10 – 20 minutes.
Trading with delayed information could be catastrophic for your account.
To try top-of-the-line trading software, here’s a link for a 14-day trial.
A trader is only as good as their tools.
And since StocksToTrade is designed specifically for small-account traders like myself, it’s the tool I attribute to most of my success as a millionaire.
See you in the next letter.