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AMRN: Didn’t quite get those 18s today but same idea tomorrow again, little walk up a/h today which only gives me more conviction on the short idea. Hopefully some more float up in pre tmrw and still looking for entries high 17s-18 and expecting more selling here yet. I’d think they jam it down back towards the ~14 area where it got saved in the first place eventually, then they may walk it back up again. But for the immediate short term, still short bias. Guys who bought those 13.60s+ to save it for the offering will likely look to cash in on those. They bought them for one reason and one reason alone, and that was to fill the book for the offering at a decent price imo. Shady stuff here.
ALQA: Have my eye on 3.50 area as a pop spot tomorrow for a re-entry on this short. If that comes at the hands of chat rats pumping it, that’s even better. Just a stupid momo name that got out of hand here, final resting place will be 1s again but hoping for a second chance at this one.
ANY: I continue to watch this into mid-high 7s level, again that s a fundamental area of interest and I’m very curious to see if they continue to sell into that, would be a big tell. It was somewhat supported again today which is not the best thing I wanted to see, but don’t view it as a huge problem either. I had some orders out over 8 today that never hit, and I’ll probably lower them tmrw to high 7s, Been some pretty heavy selling into the 7.50-7.80 area, I’m assuming that’s going to be a spot of importance and should act as a top. If you’re going to use this short swing idea, I’d use 8 as a guide now instead of 9.
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See you out there!
– D
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