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AWSM: Nutty a/h move. Typically when you see a huge a/h move on air, it spells disaster at some point for the following day, they’re just trying to get idiots to chase it and provide a bid based on the current smallcap market at the moment would be my guess, so I expect this to get whacked tomorrow. Ideally some morning games first though, if it holds up pre & opens higher, that’s probably a good bet to fade it if it pushes into mid 4s-high 4s, I would think it stalls out there. The fact that HUNT got halted and is going to absolutely destroy all the chasers stuck in it, I don’t expect many more of these to get any serious momentum now out of halt fears. Just understand this is all pure stupidity, irregularity, and those type of plays always end the same way. Back where they started.
AXSM: Pretty expected action today. Same concept here: after HUNT halted, there’s no reason for the assholes causing these moves higher to hold overnight out of halt fear, so that’s likely why you saw the big end of day selloffs. They may try to pin it higher again early tomorrow, and I would expect that to be another good short opportunity back into mid 15s. All sharp moves higher in these stupidity names should be seen as golden opportunities for the long guys to bail. High risk/high rewards plays here, should be avoided if you are newer.
DCAR: Didn’t quite expect that premarket freefall, but did what I expected it to do today: sell off. I wouldn’t be surprised to see them try and mess with shorts a little more tomorrow and could see this moving higher again. The LYFT IPO isn’t until Friday so tomorrow could be a good time for them to play a few more games and jack this up again into the IPO. I have no interest in this short tmrw after todays action, and if you wanted to play it, I’d look at it as a long on dips should a weak open hold and reclaim 4.50+ if may get weird again.
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See you out there!
– D
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