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IGC: Still hopeful for 2s here, they do have some longshot incentive to do that. Unlikely but possible. Bit of a red flag to me it didn’t die with CRON today. Not interested short in this area, it may work but I don’t see the edge just yet. Certainly don’t want to be long in this range either to be clear, just watching & ideally mid 2s entry ss. Also long scalp on 2+ reclaim if that’s your thing.
TLRY/CGC: If this has a weak open and holds, I like the long idea. Yes these are overvalued currently, but it’s not CRON either. CRON is total fraud “me too” garbage that somehow got a ticket to the pot show – TLRY and CGC are legitimate companies with legitimate contracts and business and a shot at a future. If investors pile in short lumping TLRY/CGC with “Oh CRON died, these must be next”, and they hold, watch out. Will be squeeze city again. So just something to keep an eye on – watch how weakness is handled on TLRY/CGC, if they hold will offer a good long trade soon imo.
CRON: Sick today. Thinking some pops along the way but this should get obliterated in due time as the crowd moves on in a couple days. Like the short swing idea on strength for intraday entries.
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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