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.
Webinar #2 here.
Webinar #3: Here
There’s also a special sale going on for those interested in getting involved with IU, which you can find here.
DRYS: Unfortunately didn’t have this one on close watch today – regretting that big time now, what an awesome fade today. Forbes article justifying DRYS stock price based on what their ships are worth is such a joke – no mention of revenues or growing business whatsoever was the red flag. Not that we should be surprised. Continuing to watch all pops this week back to the mid-high 4’s in a perfect world for some reshorts, and expecting this thing to settle back down in the low 3s all said and done.
SPCB: Really odd action today, was very hard to get a read on it. All morning it felt pretty heavy and all pops were getting sold into, but the 3.70s were also supported relentlessly as well, and that’s eventually where it ended up reclaiming at EOD. So tough call here – honestly my gut is telling me that we may be in for a day 2 squeeze tomorrow. The ER report didn’t read that bad. However they do need money and are a raise candidate. But short-term…this was ETB today most places, I’m assuming a good amount are swinging it short, and if we get some early bids and go 4+ again, we could be in for a decent squeeze. Not insanely short biased here yet.
CELG: I’m liking this chart a lot for a long swing..dancing around 100 right now and seems to have a lot of buying interest & support in the high 90s. Also last Thursday a massive buyer stepped in and it traded the entire days range back north in the last half hour. Paying very close attention to this & will look to scoop a weak open & give it a shot with a mid 90s stop.
EXAS: On squeeze watch tomorrow. Andrew Left recently attacked this name, so I imagine it’s got a good amount of recent short interest still – and they surprised with an earnings beat & guidance raise. Will be watching any weak open to hold & form a trend and I’ll look to join it higher.
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’ve read my blog or know anything about me, you know I’m not a bullshitter – so I really mean that about Nate’s DVDs. They helped me tremendously. Also If you’d prefer a shorter time commitment to see if you like IU, 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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