The small-cap market (IWM) continues to trend nicely and has range to $193 before we find out if this bear market is truly going to pivot to a bull market soon. I’m very optimistic 2023 will be excellent for small-caps and I’m not the only one. We’ve seen the media cover this topic a lot lately and for good reason. Firstly, small-cap companies do a lot if not all of their business in the U.S. so the rising dollar doesn’t hurt as much as larger multinational companies. Secondly, of the last 6 bear markets, when they transitioned to bull markets, small caps dominated. So let’s dig into what I think is a darn good list of ideas below.
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PXMD is at the top of my list at the front of this week as it rounds out nicely above $2. Keep in mind it has a float less than 1M and a history of some juicy moves. Recent IPO so there’s that, however, it’s held up pretty well last week after the monster spike. If $2 holds and it starts to move, over 30% of the float short could trigger a breakout.
GRND started trading recently and shot up from below $10 to the $70’s before fading back to $9’s. I’m watching this above Friday’s low of $9.10 and if that level can hold, I’d like to see if this can get going again with retracement range to the $15-$20 level.
ARDX broke out but couldn’t hold $2. Retracement to $1.70’s looks very good now and given the strong news I’m looking for a trade between $1.80 – $2.40’s. Offering potential is medium based on Dilution Tracker and given the recent form 4 of insider buying over $1M at $1.77 average, I suspect it runs above $2.50 first before we see dilution, if at all.
GEO continues to trend. This is one of Michael Burry’s big bets right now and he continues to add to the position. Book is $9.18. What I like is that the short float is over 18% which could grow and fuel a move to $15 if it stays above $10 and the IWM remains strong. The stock also has a great record of positive earnings surprises which is sure to keep bidders in there.
RLX broke above wedge resistance last week so the ascending triangle we were tracking worked perfectly. Support should now be in the $1.80 range and look for a trend to the middle $2’s. It’s bigger than a small-cap by about $600M so a small mid-cap and for $2B companies I like to go for 5-10%. So that means in above $1.80, out in the low $2’s. Very liquid and more stable than a nano-cap so for me, I often go big on trades like this.
PIXY jumped 7% Friday which caught my attention. This low float (1M) has over 7% short interest which isn’t out of this world but I bet it’s higher given the recent move from $10-$25 a few weeks back. The continuation pattern above $15 for a move to $30 is what I’m thinking. Very frisky stock, just check the daily and you’ll see what I mean.
SIEN was quiet last week but I still like this to $.50, maybe even gap recovery to the $.60’s so I continue to stalk it and take calculated shorts. It’s a $25M company so it wouldn’t be abnormal to see a 20-30% move in a few days if it rallies. The news from Saudi Arabia is an ongoing catalyst I think could lead to more news. As I start to put my January effect list together, this one would be on it.
PKBO shot up above $6 Friday which was a key resistance area for the stock. I sure like this from $6 to $8, so long as $6 holds support. Its wild $1.77 average true range (ATR) is what’s so attractive. Not seeing any catalysts that stand out to me right now.
YTRA had good news recently but couldn’t carry the $3 breakout on the first attempt. That said, it retraced and settled nicely in a continuation pattern late last week. I think it’ll continue pressuring the multi-year resistance in the $3 dollar range and trend to middle $3’s. I think this is a very good micro-cap and happens to be around a $100M market cap which as you know is my favorite. For me this is in play above $2.55 and the goal here is upper $3’s, though my normal 5-20% would apply.
XPON is another low float I like with just over 3M on top of the water. Book is $1.92 and cash of $1.17 / share isn’t far behind the current price of $1.47. Friday’s 36% bounce on heavy volume wasn’t tied to a catalyst that I saw but its interest in lithium makes it one to watch in the fast growing EV space.
DPRO was one of the best movers for us last week going from the $.80’s to $1.20’s before settling above $1 into the weekend. The goal here is to trade this if $1 can hold as support and look for continuation of the trend to middle $1’s.
PXMD is at the top of my list at the front of this week as it rounds out nicely above $2. Keep in mind it has a float less than 1M and a history of some juicy moves. Recent IPO so there’s that, however, it’s held up pretty well last week after the monster spike. If $2 holds and it starts to move, over 30% of the float short could trigger a breakout.
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Less active strategies I trade, alert, and teach:
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