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NIO: Didn’t think this would rocket through 50, but it did, so now I’m interested. Not a particular fan of trading this one, but hard to ignore now and a liquidity dream. Eyes on it tomorrow to fade the open look – personal preference would be gap up 55+ and look for the short from there. Likely won’t long this on a weak open, so it’s got to be that gap up/open shove scenario or else I’ll move on. Always great opportunities in this name when you’re patient.
XELA: Don’t want to lose this one off radar. “The trade” was today, but doesn’t mean there isn’t still plenty of room to bank on this short. Hoping to see a bunch of new high flyers for people to focus on tomorrow, and then any open strength into 2.75 area would have me going back for a round 2 short and potential swing – shouldn’t take too long for this one to be back at 1.50 as soon as you stop watching it.
CVM: What can you say about this one lol. Beat into the absolute ground last two days though, and shorts getting comfortable, so I wouldn’t rule out a little dead cat coming soon and you can never count Geert out. If it opens weak again tomorrow and we go sub 8, I am thinking there may be an intra-day long trade there. Can’t believe I’m saying that, but just a gut feel. We’ll see if it materializes, and absolutely nothing to average down into, as it’s clearly proven it can bleed forever. One of those ones where I’ll have to be right almost immediately when buying into an early flush, otherwise I’ll be long gone. Not much interest short at the moment after the past two days, and the unbelievable fraud story not quite “dead” just yet. Geert will fight this one till his last dying breath.
Shoot me a message anytime in chat (DGTrading101 is my IU handle) and I’m happy to discuss your trade ideas with you. If you’re not an IU member and would like to become one, you can join us here.
See you out there!
-D
Thanks D!