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TELL: Ideally push into 4.30-4.50 big daily level and squeeze out above it early and then interested in the short around those levels once it puts in a lower high to risk off of.
AMC: Same thoughts as yesterday about the open trade – this name makes a living off screwing people just when it looks “good” early. As in, weak open think long like today, if gap up/open shove, think short. Fading the open move on the “in focus” name continues to work well here, so don’t fix it until it changes. Leave it alone midday unless there are obvious volume clues. Like today, you see that massive ramp in volume into 30 around 2pm, so that’s the time to take a stab (when the volume picks up). So again, thoughts are fade the open look early, and anything mid morning on – only reason to get involved is if you see one of those massive volume speed ups (buyer and seller exhaustion), in either direction – there should be nice reversal scalps available off those like this afternoon.
SOS: Love to see this one getting some volume again. Its universally hated by all (with any brains whatsoever), so that’s what makes it a great potential continuation long. If Bitcoin stabilizes and returns to perma-grind mode 40K+, expect this to offer some nice long trades along the way if the algo is back on the scene, which it appears they may be. Ideally weak open and gets saved and then watch with Bitcoin for a long signal. Definitely has potential to keep going. No real short interest here yet, need a lot higher based on its past history.
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See you out there!
-D
Thanks for the time you take in explaining your plans and thesis. Great educational pieces.