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PINS: Finally a sell day. I’d continue to treat this the same until it stops working – the play so far has been to fade the pre/open action. So if it opens weak think 30 hold/reclaim and buy dips if the SPY is cooperating, or if it floats up in pre/opens strong again, then watching for a fail into 32-33 to short.
ZYNE: Watching for open push through 13 in the morning and failed follow thru for the short idea. This has “forward catalyst” into the end of the May with FDA meeting, but I’d think they sell it off first and then maybe ramp it up again closer to that meeting later in the month.
NWL: Would watch 14.50 area, should it fail there in the morning then maybe a decent fader trade for the day.
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See you out there!
– D
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