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RETO: Hanging around $2, so still hopeful for another move tomorrow. There wasn’t a ton to go after today in smallcap short land, so I’m thinking this is still fairly shorted overnight. Looking for an open shove back near 2.30s and squeeze out for another short at the short trade. Absolutely perfect world would be a blow through 2.50 highs towards 3, but unlikely.
GNUS: Perennial shitbag of the day award. Never ceases to amaze me that they always recruit a new group of idiots to get behind this one – truly one of the worst. Higher the better tomorrow and ideally open shove through 2.10 highs into 2.30-2.50 area and would be salivating for the short at those levels. Still a decent short idea even if it doesn’t get that high, assuming we don’t have a 1.80 weak open that holds.
SLGG: This one’s been torching people. Float just low enough for them to really do whatever they please with it without too much effort. I am hoping to see one more round of fireworks tomorrow, and a blow through psychological $10 level will have my full attention to start thinking short from there once we get a top and lower high to risk off of. Very big trade coming in this one, doesn’t belong anywhere near these levels, just a supply and demand game from here.
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See you out there!
-D
Thanks for posting this. Very helpful and I will most likely be reaching out to you.
Thank you Dante! Makes perfect sense, looking forward for that failed follow-through on SLGG, can be epic!
Thank you, Dante!