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OBLN: Pretty clear trend here now over the last two days. So if you were looking to short it, the safe thing would be to wait for trend break, so in tomorrows case that would mean getting below 1.50 and peaking out there. The only other short trade I’d attack here was if it gapped up and ripped out of gate thru 2, and that would only be a scalp idea, especially if the heavy volume is still around. This is a nothingburger that ends poorly but that’s no secret, so be cautious on short side until they’re done playing with it and the big player leaves.
ELTK: Thinking this is done soon. Hopefully an early try into 10 again and looking for a fail there and would short pops with a set plan from there once a top & lower high are in to risk off of.
SOLY: Don’t have an exact plan idea on this one, just wanted to share my thoughts on what I see. This one is not really giving me the vibe that it wants to do anything crazy anymore, it didn’t really set any meaningful short traps today, was kind of just up up up up up and then pretty light volume on the late day fade all things considered. I think if it opens weak tomorrow it probably never recovers. Large majority of the buying today was done over 20 so the tides may be turned and have some bagged long now. I just feel not that many are swinging this short due to the volatility. I could be wrong, and in that case the only thing potentially left to deal with is T+2 tomorrow so this is nothing to do the add add add thing on. But if it stays under 20 tomorrow morning, that’s likely it here in my opinion.
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See you out there!
– D
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