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SRNE: This plan worked to a T today..right into 15 & morning scalp short, congrats if you got it. Will remain short bias, but only when the right times present themselves. This is not one you want to be chasing weakness on – the time to short this is first and foremost – intraday only – and secondly, when they mess with it premarket or after hours. They’ve shown time and time again they like to take advantage of the low liquidity times to jam this up with ease and sell at better levels. So if this is gapping up in pre, or some testing kit news comes out, I will be very interested in the short. But again, only on premarket/ah gap ups, or news spikes. This name is a royal pain in the ass and this is the best way to give yourself an edge right now. I can’t bring myself to buy dips/weak opens, but that seems to work pretty well too if that’s your thing.
NVAX: I think this should be a magnet back towards 150 in coming days – can’t imagine who in their right mind is still buying/new buyers up here anywhere near 200. That is quite honestly one of the stupidest things you could possibly do knowing this company’s past & chances of actual vaccine success, whether it goes to 200 or 300 first or not – it’s just not a wise investment risk. In my opinion, this, INO and MRNA will go down as some of the biggest market inefficiencies we’ll see for a very long time. Really is something. That said, ideally gap up 180+ and then looking for a seller to step in quietly for the rest of the session again like today.
OSTK: How often do we get to see a name go from 5 to 90 back to 5 and then back to 90 again? Great entertainment lol. Anyhoo – the squeeze form Hell rolls on. This one seems like obvious 100 magnet now at this point – so I’ll be watching it on any triple digit breach for short scalps from there once a top is in and lower high to risk off of. There will be a huge day of reckoning here in the not too distant future as well – so if you nail it, I would try to leave at least a small piece on short knowing we’ll have a day it’s going to drop probably 10+ points more than you think it will that day.
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See you out there!
– D
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