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CRON: Sure the weed names are insane and overdone, but don’t underestimate them either. Everyone needs to stop talking about the revenue and valuations and anything related – that’s clearly a nonsensical argument at this point, and shouldn’t factor into your trade decision in the short term. Got a multi-million dollar account and a couple weeks or months to add and swing? By all means, eat your heart out, short every buck higher and you’ll be rich in 6 months. But for everyone else trying to daytrade it, just focus on what’s in front of you one day at a time. This is in squeeze mode, and is it done? Who knows. Just please don’t fight with these. It’s not a patience play, stick to scalps for now, both ways, and tight risk. Anything else is playing with fire.
MNKD: Sick today. This is the king of all perennial shitbags, an OG Shitbag. I love this name, it’s the same story over and over and over again. They got everyone good early here, but that’s a blessing in disguise, the short higher will be much sweeter. The vol today was no joke, so I’m not ready to write this off as done, it’s got multi-day potential in it. I’d be especially weary of a weak open tmrw, I won’t be chasing that short. The company is next to worthless, and when they’re done with it, they’ll really be done with it and you’ll have time to get a short trade off, so don’t be early. They showed today they aren’t messing around. Ideally closer to 3 for short entries here.
REPH: Would like to see this try a morning shove back towards 9 and get stuffed in the process and show some failed follow thru. Would short pops from there if that happens.
MYND: Not quite in play yet due to the lack of volume, but someone has been quietly buying this up for a while now, watching for a PR or fireworks day with a little vol and like the short into low-mid 3s area if it comes.
Shoot me a message anytime in chat (DGTrading101 is my IU handle) and I’m happy to discuss your trade ideas with you. If you’re not an IU member and would like to become one, you can join us here.
See you out there!
– D
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