On Watch 06/19/20 From Dante

by | Jun 18, 2020

Had some technical difficulties last two days, sorry about the missed scans. Also going to try and explain my take on the Robinhood effect in the first ticker tonight.

 

Check out my audio-blog series, where I narrate all my favorite blog posts for you guys. You can find that here. 

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Also we’re running some really great sales right now if you’ve ever been interested in joining IU – now would be a good time to do it. You can have a look at those options here.

WKHS: Running on a $10 PT and hopes of winning a USPS contract I believe. This is likely a stretch. Normally I’d have probably taken some of this short towards the end of a/h as a feeler because I think it’s crazy, but we are in a “new normal” right now with runners getting hyped up and Robinhood crazies. So I will respect this and take a look at it premarket to see where we’re at. My thought is if it continues to gap up, I will be looking to short it shortly after open, wherever we are. But if gap down/weak open, will ignore the short. Flip bias then to watching 5 area to hold and a potential long.

You really have to re-evaluate the way you look at these runners now.  To me or any other seasoned smallcap trader, we see a $10 PT on this and say “lol. ok.” However…to these new Robinhood traders, they look at a $10 PT and truly believe “wow. this is going to $10.” It’s that type of logic that has caused so many runners to stick around way longer than we’re used to and go way higher than we could ever imagine. People just aren’t selling, shorts are getting stuck when things they’re used to seeing fall apart in a day or two don’t fall apart, and it’s a vicious cycle if you don’t adapt or realize what’s happening. So be aware of this, don’t look for home runs, just wait for extreme extension in either direction and take advantage of it, covering/selling if you catch a nice piece quickly and then go from there.

DKNG: Solid pricing. Don’t think the Fauci comments today were too detrimental, nor were they concrete, just a guess on his part. So I continue to be long bias here on dips. Assuming the market is cooperating, I will be looking to trade this long on dips, I like the chart setup a lot for 50+ in next week or two.

AVXL: Oldie but goodie perennial shitbag. Not enough volume here to really size in, but good enough to trade. Hoping for gap up/early shove and then looking to get short 9:45am+

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

3 Comments

  1. Hi Dante thanks a lot for the scans. Just wondering what you think of NVFY. Rose yesterday afternoon so thinking trapped shorts. Maybe a push in the AM and a short from there?

    Thanks again

    Reply
  2. so on point on the commentary. Things changed the last 2 month on things are traded. not sure how long this will last but being patient until things change.

    Reply
  3. With Vatican calling to move away from fossil fuels will renewables be at play Monday ?

    Reply

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