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TLRY: The endless prop from hell continues…this went Reg SHO recently, so the short interest is clearly getting out of control. I think we see a large blowoff thru 100 tomorrow, seems like the only inevitable outcome before it finally dies, and it will. But they need to clear out shorts first I think, it’s very jammed up.
CRON: Liking this short more after today’s action. Seems to be making lower highs and lower lows off the last two days which is nice, but most important – it had some extreme deviation from TLRY today, CGC did as well. TLRY may have been the only thing saving these things from falling apart. This is really the first day we haven’t seen these three trade together, so in my opinion, that’s the beginning of the end. As Soon as TLRY gives up, these will follow quickly I’d imagine. I like the short with a 12.50 stop. Above 12.50 it’s total trouble again, so don’t fight over that. And keep an eye on TLRY – if that turns weak, I’ll be attacking the other two.
RENN: Perennial shitbag of the day award. Really stupid news today. Any pop back mid 2s would be a gift for re-short.
GEVO: Like the short on any failed follow thru attempt tomorrow, ideally low mid 5s try out of gate and stuffed there, short pops.
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See you out there!
– D
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