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BYND: Surprised it’s gotten back up this much above 120 and stayed there. But it’s starting to get that heavy look again, it labored all day and while it didn’t get any lower, there certainly wasn’t any strong buying to send it higher either. Watching it off 130 now, still expecting this to head lower, in all reality doesn’t belong anywhere over 100 imo. Just watch it, any weak opens be weary of chasing short like the trap on Monday. We want to see this open strong one of the next few days, and that’ll likely be the time to start thinking short mid-morning for the eventual bigger pic fade that’s coming in this name.
PLUG: This thing…lol. One of the all-time Perennial shitbags and I mean PERENNIAL. While it’s one hell of a run, this time is no different. It’ll end poorly like it always does for this shitbag. I like to look at this one very zoomed out, and you can really see the extension now from a weekly look. Hoping for a nice open 25+ and then interested in looking for entries around there. Clearly proving not to be one to fight with right now so don’t be a hero, but I think there is a very big trade brewing here in the not too distant future.
FTEK: Don’t want to lose this one off radar. You’ll need some size to make it worthwhile, but still some nice meat on this. Ideally pushes in the am back towards 1.50.75, but either way, has the feel that it’s going to be a gravity trade right back sub 1 in the not too distant future. So watching any early strength tomorrow to start fading it, and then there’s so much other stuff for people to trade right now with range, that I suspect this one will get lost in the shuffle and may still give a nice gainer if you’re patient and stick with it.
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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