On Watch 2/21/19 from Dante

by | Feb 20, 2019

 

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KNDI: Very happy how I handled this today, didn’t touch it all day as it was in a perfect trend, waited for something very specific to happen and got short from 8.40 down to 7.70s into close, just about got the bottom, but mostly just had no intention of swinging so had to cover. I’m glad to see it hold up and be in play again tomorrow, that 7.50 area that was a support zone from premkt is the spot, this thing is very dangerous above there still. Nutso vol today and I think a lot of shorts piled in eod, so hopeful for some more fireworks tomorrow and to take out the 8.85 high and maybe think about 10. That could be wishful thinking, but certainly possible with the vol. If weak open, will ignore. In that scenario, watch for a hold around 7.50 & join higher lows from there if you want to buy it, I’m really just looking to short it on a nice open run, otherwise probably not at all.

GRMN: Nice earnings winner. This story in general amazes me, I thought this company was going to take a massive hit and fade off when physical GPS units became obsolete in the Waze/Google Maps phone GPS era. They’ve done well to pivot and adapt. Regardless, this is a big move here, probably a bit too much. Hoping for this to open higher tomorrow out of the gate to confirm the short bias, and watch for failed follow thru, maybe around 85 or so. Looking to hit pops once it fails.

RIOT: While I can do nothing but smile when I see this name go, it’s starting to look a little angry. I see potential to break through 4 again tomorrow and maybe test that 4.24 high from Tues. That’ll be business as usual for me on strength up there, watching closely for the short likely around 4.50 if that scenario comes to fruition. If this opens weak it still may be worth a look short on pops, because once they’re done with this they’ll really be done. For now though, the volume is actually still fairly strong which I didn’t expect, so who knows, have to respect that. Hoping for those 4s again tomorrow and it’s back on top radar. If you’ve been buying this and doing well – good on you, it’s been a nice trader. But if starts to go south, just remember what you own – it’s a disgrace to dogshit to call this dogshit. MARA too.

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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