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UXIN: Pretty much as expected today, morning weakness & saved, they’re probably building up a good short army, assuming this am was just a trap day for anyone swinging. Expect more games, if you have a bigger pic idea, look dips to get long for now. If you want to short it, I’d probably only go after it on days like today when they jam it pre on air, and I’d be covering by mid-morning until further notice. This thing will crash and burn, but they’ve got to get their agenda completed first.
NBEV: The 6.20-6.30 level proving to be an important area now, so that’s what I’ll be watching tomorrow for this trade. Not going to call long or short yet, although I still lean long near term. So idea would be buying dips above the key level or shorting pops under it.
RIOT: I just can’t imagine on what planet this gains any serious traction ever again. Certainly not Planet Earth. Also, not sure how this CEO isn’t in prison yet. Oh never mind they got a new one already, the Honig puppet is gone. I’m researching this on the fly, haven’t looked at this name in forever, but it’s up there with the most laughable “companies” in Perennial Shitbag history. Praying for one more day of chasers tmrw or even some chat rats – into 2.50 would be nice, I’m very interested in the ss around there. This is not a chase short name though because the volume just isn’t there to make it worthwhile at these levels imo.
OSTK: This has gotten BRUTALIZED over the last week. I hate everything about this story and have for months now, I have (t)zero faith in them getting this deal done, but that’s besides the point. Pains me to say this, but purely 100% from a technical standpoint, it appears the beat down is leveling out and I’m watching that low 12 area from today to base out and there should be a long trade in this tomorrow. I would not short this right now even though I hate the company, simply because they blew smoke up everyone’s ass on the CC. Hinting at “major investor” this “GSR gave their word” that, blah blah blah. Could it be true? Unlikely imo, but it could be. The point is – the name is a headline risk now on short side. So if you’ve been short, congratulations, but I’m cautious moving forward, and the r/r probably favors the long trade now at these levels.
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See you out there!
– D
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