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UNIT: Interesting story here, I’m not sure the severity of the impact yet, but gut reaction is it’s not good. It was showing some serious strength this am and I thought it may turn into an afternoon squeezer which it did, but went way lower than I thought first. Again I think the story is pretty bad, so perfect world tomorrow – I’d like to see it floating up in pre and try and run higher out of the gate and test today’s highs 13.30ish, and I’ll be watching closely for some failed follow thru and to short it up around there.
RIOT: It’s amazing people just never learn. Congrats if you got it long today, hopefully you’re long gone and knew it was just a trade. This is essentially a shell company that does absolutely nothing, it’s the bottom of the barrel when it comes to perennial shitbags, and it’s days are numbered. It bagged some people pretty good this afternoon I’d imagine, so I’d expect any open pushes to be met with some sellers happy to get out. Ideally we get a shove back into high 3s and 4 o/u and would short it on pops from there.
MGNX: See last watch list from 2/15 for the initial thought process, but this long idea appears to be coming together nicely post offering now that it’s off most people’s radar. Long swing idea that is – buying dips with the clear defined 21.50 risk, shouldn’t see lower than that again if it’s going to take off again.
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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