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CVM: Absolute sham company feeding off of delusional longs, bid props and short squeezes, pretty funny. Nice Adam Feuerstien piece out today stating a bunch of things we already knew for the most part, but always nice to see him go after these guys. That said, this trade is certainly harder than it looks. I think we’re nearing the end as they can only hide their failed drug for so long, but I’m cautious tomorrow with more eyeballs on it after the article today. Would only be interested in fading sharp moves higher as that’s almost guaranteed to be shorts bailing for the most part, nobody in their right mind is aggressively buying this lol. So just scalp mentality for a day or two until it settles down and most of the crowd moves on again, then thinking nice fader swing next week. And this is all assuming a little more volume comes in – it’s pretty hard to trade at the moment. If vol is super light again, will just ignore most likely.
LCI: Still looking for this fade day, but again absolutely zero fighting the grind when we’re in this nice and neat trend. If it doesn’t work almost immediately, will leave. Area of interest for me now is around 12.20, would like to hit pops short below there with a 12.50ish risk.
PDD: Pretty aggressive selling today when they wanted to, makes me think they’re not done. Would like to see this try 32 and fail in the morning, and interested in hitting pops from there sub 32 with a risk around that level.
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See you out there!
– D
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