Bull or Bear Market… Doesn’t matter

Kyle Dennis’ new, 5 Min Strategy is poised to double Your Money Weekly!

Michael S. made 173% with Dollar Ace. So can you!


Today’s trade with Jeff Williams: Sorrento Therapeutics Inc. (SRNE)

Jeff WilliamsJeff Williams ·

  The set-up: A lawsuit pending against the company was dismissed last week, and two company insiders (including the CEO) were buying the stock, creating some interest in SRNE from a fundamental point of view. On the technical side, the stock was pushed past both its 20- and 50-day moving averages on Friday, bullish signs on the short term.

  When I’ll look to buy SRNE on MondayBecause the stock hit over the previous high of $2.10 before falling back late Friday, there’s a gap up to be closed here, upwards towards $3. I’ll be looking for the stock to get up over $2.30; that will be my trigger point because it will show me the stock is stepping back up into the gap. At that point, this is a short-term trade.

   When I’ll close that position: This is a short-term trade. I’m looking for anywhere from 5 to 20 percent, and I’m out if/when I get it. I’ll set a stop-loss below $2.10.

   Bonus point: Because of the gap and the potential for this stock to go to the high $2s – plus the solid fundamental case — I could be playing SRNE more than one day this week, most likely as a day trade rather than an overnight hold.




   Jeff Williams is the lead trader of PennyPro.com. He is a short-term trader of stocks under $10 a share. At the time this article was published on RagingBull.com, he had no open positions, options or orders in SRNE. He traded the stock on Friday, buying in at $1.95 and selling at $2.06. He also sold the stock short on Friday at $2.08 average and covered at $2.045. He also traded the stock on April 13th buying at $1.98 and selling the same day at $1.96. Prior to that, he had not invested in SRNE in 2017.

You may also like

Exclusive System Tracks Wall St. Insiders

“Dollar Ace Simply Exposes Information That Wall Street Wants To Keep Quiet” Said Kyle Dennis
“One member, Wesley M., has already reported 360%+ gains in just a few short days. Don’t miss this!”
(Reserve Access Now)

“What Recession?!” Jason Bond nets $55,060 in realized profit in One Day

After going 6 for 6 on profitable trades recently, we caught up with Jason to ask how he did it.
Check out Jason’s exclusive interview revealing this tightly guarded strategy. (Watch Now)

RagingBull.com Co-Founder, Jeff Bishop, Launches High Conviction Trade Service

“We listen to our clients and we give them EXACTLY what they want, so we designed a service to deliver 1 trade, 1 time a week, with a 100%+ PROFIT TARGET, directly to your inbox every Monday before the market opens. (Read More)

Be a Better Stock Trader, Starting Today

Get the expert insights, tips and strategies you need to optimize your trading skills and profiles