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PTON: Very mad at myself for losing this off radar, had plans to grab it low 40s for eventual 50+. Watching this for a weak open tomorrow and would be looking to get long around 45-46 area, but if we don’t get that, I won’t chase it. Thought is still 50+ in next couple days if not tomorrow. Think they have bigger plans for this one yet.
MGI: Beautiful short trade today. Nice float up after hours, ideally even more in the am back to todays levels for a possible re-do. I personally think the Western Union buyout rumor is either a) not true or b) a very predatory offer based on the state of MoneyGram at this time, they are deeply struggling and massively indebted. So way I see it playing out is either no buyout at all, or they reject WU offer, and in both cases I see this going right back where it came from in the 2s soon.
PGEN: What a SICK squeeze this afternoon – someone got absolutely roasted caught on wrong side. Likely quite a bit more to fall yet as the squeeze really started around 2.75. This one’s on peoples radar now so not sure it’ll be a straight shot back to those levels, but I think that’s where we’re headed. Will be giving this a look if it can get back into the 4s early tomorrow for a re-short.
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See you out there!
– D
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