Scan for 05/21/20 From Nate

by | May 20, 2020

Alright finally back at it tomorrow – granted I will be helping Momma when she needs it.

Big short trade on the GSX swing! Nice pay day today.

I’ll be doing a broadcast.

Thank you for those who stepped up while I was out and thank you to all keeping things in line. Appreciate you helping make this community great.

Scan plays worked well. We’ve had some insane action lately but last Sunday I did a video as to why a lot of traders would lose a lot very soon – that came true today on some names. They amount of chase is wild. It’s just a matter of times before they do a bunch of intraday raises which they did do today.

Always re check your risk and #KnowWhatYouOwn — did a big warning pre market on NNDM and then props Beckdan warning the room re: CIDM bein ready to raise and moments later they did it.

Main Watches:

PENN higher better blow off and stalking. Going to be a big trade – offered some great trades today but remember take gains on the front side of the move over VWAP etc — assume it’s going to hold each time until tide changes ie: key levels break / VWAP top etc.

CWH stalking – higher better – easily can keep on going higher $20-22 + but watching for any good fails to join the trend back down. I’d treat it like the PDD JD type idea where we were looking for gap up shove and fade.

INO easily could keep going wayyy further than we think $18-20 is always possible but until things look trappy I am looking to fade all pops that fail.

ACB higher better for back side. Ideally $18 + blow off vs. $20 or failed follow through. I would have been long AHs but — wasn’t on desk the minute the headline came out. What a nice set up. Chat broken, lots of shorts should be a nice trade opp both ways.

Failed Follow Through:

HOME higher better and looking to fade .50-.70 cent down day once it blows off.

ALT dips for squeeze out. Otherwise failed follow through vs. VWAP 945-10AM +

MRNA not looking to trade every move but ideally $2-3 + more shove

Continuation:

RENN weak open and rally back potential vs. $2.80s

CHK held since that reversal if we get a good shove on oil – could be a go to play.

Staying Familiar:

Thinking big trades coming across the board here.

Higher better for unwind potential – look left for prior spots of support.

3 Comments

  1. Thanks Nate!

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  2. Thanks

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  3. Thanks Nate.

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