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DGLY: Eyeing either weak open 2.70 save for a long scalp, or a shove towards 3.50 to start thinking short. If we don’t get either of those and trade around 3 for a while, that makes me lean towards more long continuation maybe the following day. Won’t touch it in the 3 area, need to see the extension first.
NIO: Will let this one trade right out of the gate and wait to get a read on it. Initial thoughts are to fade the open look. It’ll be a top watch for most, so expect the “obvious” early trade to probably not pan out. 32.50 area on watch for a weak open rebound, or 35 push early to start thinking fade trade.
SNAP: That EOD shove right at the bell shows you just how many are still trying to short this thing, so they’re not going to make that trade easy. 42s is an area of interest from last week, so eyeing any shove into that spot tomorrow to start thinking fade. Ideally a weak open and nice sharp move up to it. When a name is as heavily shorted as this one is, the best plan of attack is to fade only very sharp moves up and take the quick buck if you get it. And do not short weakness. But hopeful in the not too distant future this will begin a steady backside move. Truly does not belong up here.
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See you out there!
Thanks, for your thought process.
Thanks Dante