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SPI: Nasty today, just bulldozed chasers & chats. Ideally tomorrow the chats come back and between that and some o/n short covering maybe jam it back to mid 5s and look for the short on lower highs from there.
SRNE: Man did they bend shorts this afternoon and a/h. As I’ve mentioned before I like to fade the pre/open action on these. If we gap up more in premarket, expect chats to swarm here and likely a good idea to fade an open rush 6.50+, just understand that’s a high risk high reward play and not for beginners. Probably smarter to wait for fail & confirmation first. If it opens weak, would ignore for short idea, rather short pops below 5 vs coming down into it.
CNAT: Not going to be the most exciting trade here and is obviously a swing idea now, but this is almost certainly destined for sub 1 in the coming days/weeks.
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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