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AMRN: Some nice downside since highs, but thinking maybe still more yet. The event everyone was waiting for is over and there’s nothing near term to support long thesis right now really, so could see teens coming again. 21.50 area of interest tomorrow, if we open below there I’d lean towards shorting pops. Above 21.50, probably leave it alone and see how it reacts.
IMGN: 4.50 area of interest. Weak open I’d look to shorting pops with that as a risk. Otherwise (and more ideal), we gap a little/open rush back through 5 to get some more shorts to bail and then fade it back down afterward.
ONCY: Absolute turd. Should run into some problems if it gets any ideas of heading through 2 tomorrow, 2.30-2.50 area will be some serious resistance. Best case we get an gap/open rush into low 2s and looking to fade it there.
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– D
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