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ZYNE: Figured that dump was coming eventually, if they’re gonna try and run it into the FDA meeting it wasn’t gonna be 30 days early. I think they caught some short biased guys into the dump today and this afternoon was just methodically working them out – I’d hope for a push back into 11.50-12 tomorrow early, and then an afternoon fader trade.
ABIO: Low floater mania today..not sure we’ve seen the end of it, I’d be on watch tomorrow for a weak open hold & then potentially squeezing out the crowd who got short this afternoon if we can get high enough. The key is most won’t be underwater until 14-15 so wouldn’t get excited unless we got above there. Yes it faded this afternoon, but it was pretty controlled after lunch and I wouldn’t be surprised if they have another trick up their sleeve. If weak open though I’d avoid the short.
PRPO: There was a good amount of volume early today and it didn’t get very far, so I’d see that as pretty bearish. I’d look to fade any open strength if there is some, and expect this to die soon. Unless they bring back some good volume, this probably is destined for a slow bleed lower and a good short swing idea soon.
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See you out there!
– D
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