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JDST: Nice idea from Friday. Will look for more decay and follow thru lower tomorrow, same plan, watching it closely and make sure you’re trying to join a trend lower, not pick the top. Small/moderate size and mandatory to use scaling on these thin spread names with a lot of range. Huge opportunities, but the danger is very real as well. If newer, probably best to avoid altogether, but if you’re an experienced momo trader, this is great action to take advantage of right now.
CNET: Looked dead but held 2.20s there and shoved near r/g into close. From the look I’m assuming that was mostly just short covering and I don’t have high expectations for this to give a Day 2 tomorrow, but definitely on watch if it does get legs for a high 2s re-short with 3 o/u guide.
IZEA: Held really well all afternoon, but I don’t have high hopes for this one to get going either, would have plan similar to CNET where if it got anywhere back near Friday’s highs, I like the ss idea with a 2 guide. Would think it has really tough time getting through there, based on that massive 55M volume day from a month ago, there’s still a ton bagged there that’ll be thrilled to get out near 2 most likely. If it manages to get above 2 and base there, then could be a big problem. But don’t envision that happening.
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
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