On Watch 6/09/21 From Dante

 

Check out my audio-blog series, where I narrate all my favorite blog posts for you guys. You can find that here. 

Curious what it’s like to be a member at Investors Underground? Here’s a tour around the community. 

Also we’re running some really great sales right now if you’ve ever been interested in joining IU – now would be a good time to do it. You can have a look at those options here.

CLOV: Mind blowing volume. The usual approach to these Day 2ers is go fade the open look. So if gap down/ open weakness into 20 that gets saved, would be partial towards a long. Anything gap up/wise, would have to see open shove towards 30 to want to get short. With this amount of volume, literally nothing is as it seems, and they can save or destroy this at a moments notice, so absolutely do not marry it in either direction. I think that’s fairly well known as well, so it should result in some chop (will be a short term scalpers paradise tomorrow), so have patience, wait for large, quick spikes/dips on heavy volume, and there should be some nice opportunities to catch it both ways. 99% of traders will see the volume and have no patience. So there in lies your edge when trading these. Just breathe, and wait. The trade will come to you, both ways.

AHT: Name that’s being pumped a bit, nothing here really. CNBC involved, so death is imminent. Nice gap up today a/h, watching for some more follow through early and open spike towards 7.50-8 to fade it back down. Has to happen that way though, if weak open/gap down, then possibly just continuation of uptrend forming for bigger picture liquidity event. Would leave early weakness alone on short side. Not really interested in longing it at all either.

AMC: Throwing this back on radar for tomorrow. Volume died significantly today (CLOV kind of stealing the show), which gets me excited for a possible easy sell day in AMC tomorrow. Nothing I have my heart set on, but will have eyes on it if it shows any open strength, and will look to fade it anywhere back near 60 in that case.