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IBIO: Top watch tomorrow. This has just gotten incredibly out of control – this name should be and will be back under a buck in the not too distant future. Expecting a gap down, but hopeful for a gap up. Anything near 8 tomorrow am I’ll be salivating to start in short. Weak open will ignore short until 6 peaks out as resistance, do not want to be shorting any weakness down into 6 tomorrow morning.
INPX: Like this one as a long swing actually. Pretty beat down, looks like they just raised a lot of cash using their ATM and have put a pause on that for the time being. Raised 40 million in cash and market cap just above 50 million before today. The volume today is what caught my eye, reversal signs. I like it on dips with a 1.20 o/u area stop on the trade, and thinking it’s got a shot to be picked up by one of these absurd algos in the future as a contact tracing play – that sector could be next to get some attention as it gains popularity. May amount to nothing as company has a history of dilution and piggy tendencies, but worth a watch at these levels with pretty limited downside here 1.10-1.20 floor. They’re in a very “relevant” sector for the current Covid re-opening chapter we’re in now. We’ll see.
BOXL: Like any pops into 3.30-3.50 area tomorrow for another short opportunity. Should be a slow steady bleed from here.
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See you out there!
– D
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