We did it again! Two days with back to back monster trade alerts from the Warrior Trading Chat Room. Yesterday we nailed $AXTI from $3.00 to just under $4.00, and this morning we hit $RESN for a big winner. When I was doing my pre-market scanning at 8:30am the scans were looking pretty empty. There weren’t a lot of good looking setups that had the important combination of a good catalyst, a strong daily chart, and a low float or high short interest. Then at 9:26 I heard over Benzinga Streaming Radio that RESN at a 13G Filing, Lone Wolf Holdings taking a 16.9% Stake in the company. This breaking news gave me the best trade of the week! This is why it’s so important to use the best tools. If you were using Benzinga, you would have completely missed this trade.
After I heard the news I quickly looked at the daily chart, which was already on my watch list because it has made a big move in the last week. I saw that for the last 2 days it has been consolidating under $4.30 and I decided when the market opened I would be looking for a long over #4.30, for a squeeze up towards daily resistance at $4.73. I got long with a total of 10k shares and rode the momentum up to a high of 5.10, and then sold on the way back down. This resulted in a monster $3,339.94 winner in the first 5min of the day.