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BTX: Remember our discussion from a couple days ago? We’re getting very close to that $14 max pain zone, and it shouldn’t surprise you in the least. Congrats if you took it long, what a killer idea. The Daily says it all, as soon as it was evident their intention was to play with shorts. Hindsight is always 20/20 of course, but this one was/is textbook to what we thought would materialize. Hopefully they finish the job with some fireworks 14+ tomorrow, and then I’d be looking to start the fade trade from there once a clear top is in. Nothing I want to take a stab at first try through key daily levels, as these guys are absolute pros. It’s all fun and games for now, but will be bidless once the objective is achieved, and in my opinion, that objective is near now.
CVM: I typically avoid this one, but it’s at LOL levels up here. Think the worst of it is over now for shorts, and strength from here should start to get sold off again.Watching for anything into 25-26 range if we can get there to start thinking short again.
NKLA: Watching for anything back into 12.50s to fail tomorrow and would love to join for a fade trade. Assuming the market gets heavy (which it has reason to be), this should be a nice one to get a buck or so out of.
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
Thanks Dante