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.
And if you enjoyed that, the second webinar is out on replay as well, which you can watch here.
There’s also a special sale going on for those interested in getting involved with IU, which you can find here.
RGSE: Huge volume here today, really surprised it just died without a secondary squeeze move first. I had some nice short entries in the morning near the top, but covered up a little too soon 2.30s expecting it to hold. Watching all pops back into 2.50 area for another short opportunity tomorrow. Total pig here.
MNKD: I didn’t short this today, was a little spooked by that INSANE $6 pricing. I can’t for the life of me figure out how they filled a book of $60M at 6/share, that is just ludicrous and absurd. It faded real nice today though – know some guys who absolutely nailed this today so congrats to them. I hate to say it, but I honestly expect this to make a recovery tomorrow. It pains me to say that because of what a giant piece of shit this company is, but that $6 pricing is concerning. I’ll likely leave this alone because my bias is extremely short, but the facts of the offering and pricing kind of suggest that it should hang around. If I do anything, it will likely be using my buyer/seller exhaustion indicator to scalp any extreme moves in either direction, have no problem playing it both ways.
CLSN: This was an interesting one. It played out as we had hoped from scan last night early in the day, hitting that 5.20s spot and failing nicely, but then it made a full recovery and likely has a lot of shorts bent now. I’ll be watching for a weak open and look to see if those 5.30s hold and if they do, scoop it for a long try, as again, I believe shorts are very stuck here now.
CASI: Pretty weak after the open run all day today. Seems like the insider buys were a week old when they were released, that’s duplicitous and likely just a ploy to try and create a bid, and there is more selling on deck here. Watching all significant pops tomorrow for a short. Remember this thing came from $1.
LBIX: Same idea as CASI here, watching all significant pops into the 2.teens area for a short.
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. I highly recommend getting the DVDs – they truly are where I learned most of what I know, and the most significant piece of education I was able to draw from early on in my trading career. 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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