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OSTK: Straight squeeze here, which actually shocks me that it help so well. Perhaps means they’re not quite done punishing shorts yet. Looking for a big fade here but it’s clearly proven nothing to step in front of, so proceed with caution. Looking for a big gap up for when “it’s time” – be it tomorrow or next week, but a nice short trade is around the corner here. If we can get to mid 80s tomorrow I’ll have a close eye on it looking for fails. If no gap up/big open green candles, will likely ignore. Nasty squeeze thus far.
ADMA: Lot of sellers around 4 all day today, someone was happy to get out at these levels. So in a perfect world they can squeeze it one more time through recent highs 4.20s towards 4.50 and would be very interested in the short trade back down around there.
PEIX: I like these types – very clear what’s going on with the perfect 45 degree angle trend, so wait for something to change in that picture. Any big morning move above 3 would have my attention for a short, looking to cover into the trend that’s been holding the past few days. Any weak open down not interested in shorting into 2.20s – if anything watch for trend to hold and possible long there.
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See you out there!
– D
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