Webinar Replay w/ Alex: If you haven’t checked it out yet, please watch the webinar I did with Alex, a lot of good info in there for traders of all levels, and some background about my story and who I am. Watch here
There’s also a webinar special sale going on for those interested in getting involved with IU, which you can find here.
CLVS: What a move today. This one caught my attention after some intraday buyout chatter causing that massive bid to show up early morning, and typically what happens afterwards, if you remember the JUNO play from a few days ago, is that the buyout chatter is usually a liquidity trap for someone to exit, but that wasn’t the case today and it held almost all of those gains, so that’s pretty bullish to me. I’ll definitely be looking to get long tomorrow, ideally a weak open to scoop dips with a ~75 risk & off she goes towards 80+.
HMNY: Some odd action midday today, but we all know what this thing is. It’s essentially a shell company, total garbage, and they’re professionals at diluting shareholders and raising money. On Friday it ripped pretty good and they couldn’t even wait another day to announce an S-3 and the thing got crushed a/h. There’s been some really strong sellers into that 3.70s-3.80s area, so in a perfect world we get a push up towards that spot tomorrow am that will be met with that seller from the past doing what he does best up there, and I’ll be eyeing a short on pops once that area right under 4 fails.
MRTX: Man what an attention whore today..just range bound and we got stuck with a consolidation day, which usually means we’re due for a break out of that zone soon. I’m still not convinced this name is done, so if we see a weak open tomorrow & it starts to ramp back, I’m not afraid to buy dips for a decent move higher, maybe towards $13-14. Pilot name so it can really get going in a hurry if it wants, as we’ve seen these things go nuts over the past few sessions. There was also an Oppenheimer upgrade with an $18 PT late day here, so that may be another clue we’re due for higher. Will be telling how she opens tomorrow to create my bias for the day.
BLDP: This thing is starting to remind of me AVEO a little bit, in the sense everyone wants to see it fail, but it just continues to hang around here and quietly sustain a bid. I’m not really sure what’s in store for this in the near term, but I do think the company is a load of crap and the ultimate end game is lower here, but honestly near term with the way it’s been trading, I don’t sense a layup short. Will be eyeing this to stay below that 4.70s 4.80s area – if we push into that tomorrow morning and fail there again, I’ll start to dip my feet in and begin to build a short on pops. I feel this is more of a swing idea if you really want to nail it, as the range has calmed down a bit and it’s not the most exciting day trade anymore.
If you’re not an IU member and would like to become one, there’s still a sale going on here, along with the webinar sale posted at the top. Or if you’d prefer a shorter time commitment to see if you like it, you can go monthly as well here. Shoot me a PM anytime in chat (DGTrading101 is my IU handle) and I’m happy to discuss trade ideas with you.
See you out there!
– D
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