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CRON: Expecting more games here tomorrow, similar approach to today, will be looking to fade the open action. 20.50-.60ish seems to be the important spot, if we open weak and test & hold that there’s probably another long trade there like today. The more preferable scenario for me would be a gap up and open rush into 24s again and watch for that big seller to step back in around those levels, allowing us to short pops once it peaks out and gives a defined risk.
AMRS: The ETB boogie man got everyone today. Nasty crowded mess that never really broke key levels or gave any signal to short today in my opinion. Perfect world would be higher the better tmrw early, gap up and rush towards 6.50 seems like a good short area on daily to me, will be eager observer with that scenario unfolding. Weak open will likely ignore with whole number 5 o/u in the way of any meaningful fail, SSR will get triggered around there too 4.92ish, so don’t envision it being a great short unless we get higher early tmrw.
EOLS: Pretty wild today, straight up. I think this caught a lot of shorts with their pants down. Watching for open shove through the HODs from today low 26s maybe even into 27s and watching for stalling action from there. Looking to short failed follow through with a defined risk once a top is in.
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
style
thank you