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Shorting has not been fun for the most part over the past few weeks. Weird to have so many long ideas in my watch lists lol, but that’s what this market is calling for mostly. So be it.
VXRT: Sick range here today. It came in a lot more than I thought off the open rips, I got a little faked out though, I thought they had trapped everyone & were going to send it again this afternoon, but then it kind of just peaked out and trickled lower. Someone there to catch it multiple times in the 4.70-90s range, so that’s the spot. Would like to see a weak open & holds that high 4s area, if that scenario plays out I’d look long on a higher low around 5 with a ~4.50s risk.
TLRY: This had multiple opportunities to break down sub 140s, and it wasn’t interested. Gut is saying higher near term, watching a weak open 140s hold and some higher lows for long idea.
AMRN: Have been a bull here for a while, now that we got the 20s, I’m tempering expectations. It had a few opportunities to hold 20 and it really didn’t seem all that interested, I’m flipping back to bearish bias here for tomorrow, ideally morning strength back into those 20.50s area, and look for the seller to show back up, wait for a lower high confirmation then hit pops on any failed follow thru with a risk on those 20.50s.
NBEV: Something about this doesn’t smell right to me still. We’ll see what pre action looks like, rather be reactive here I’m not convinced either way yet. If gap up I’d look to try the short low 9s with a .50 o/u stop. If weak open & holds 8, would watch for higher low/curl off that for the long risking 8 o/u.
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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