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AIMT: Looking to fade the open look on this one. Getting pretty beat down, so would not be chasing short on any weak opens. Anything sub 28 out of gate would be eyeing for reversal trade long, but don’t catch the knife. Let it bottom, put in a higher low, then think dips with a set risk on LOD. If we get a gap up and any shove back towards 32-33, would switch bias and be looking to fade that most likely, same concept. Let it top and lower high, then short pops with a set risk on HOD.
PBYI: Hopeful for higher early into 11-11.50 area and expecting this to fail at some point mid morning. Really strange closing move and not enough volume to make me think this is going to be a multi day move, should fade off.
LJPC: It’s back! Has likely absorbed a ton of shorts over the past 2 weeks who are all stuck now. Super thin name and super manipulative fund involved in Kevin Tang, so my gut is still as it was 2 weeks ago last time we traded it – very possible it’s headed for double digits in coming days. Would watch all dips to catch especially on a weak open and wouldn’t mind joining there.
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See you out there!
– D
Thanks D!