On Watch 11/10/20 From Dante

 

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BYND: Absolutely atrocious e/r .. can’t say I saw it coming that bad, but definitely not surprised. Expect follow thru lower. Most who want out can not get out after hours or pre-market, so tomorrow during the session they’ll have their chance. 120 is the clear obvious support spot on the daily, so watching any shoves into that zone tomorrow and if they reject, will be looking for failed follow through and to short pops from there.

INO: Sweet, sweet reality. Finally. This thing is still about $6 too high, so expect all the delusional clowns to slowly begin to hit the exit doors even further. That said, this one is always a pain, so don’t expect it to be super easy. It got womped all day today, so chasing weakness tomorrow is not ideal. In a perfect world we can get some covers/open shove into 9-9.50 (probably wishful thinking) but that’s an area I’d love to look at it to start attacking short again.

NCLH: Awesome Pfizer news lifting travel and leisure massively. Expecting continuation, but it may not be entirely straightforward. For tomorrow while it’s still fresh on everyones mind, I’ll look to fade the open looks. So here would be shove into 23 area early and look to short around there, otherwise weak open that holds 20s and then look to get involved long on dips. And obviously bigger picture here is to think continuation long over the next few weeks, barring any negative light shed on Pfizer comments. Also remember that ++ vaccine news today still doesn’t mean anything in the next 6+ however many months as far as bottom lines to travel and leisure names goes, so be aware of that as well. If they aren’t holding these huge gaps and starting to base higher, no reason to remain perma-bull on them. Just trade what you see. Likely good opportunities both ways coming. Re: CCL NCLH AAL UAL LUV SAVE etc.

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See you out there!

-D