Hey guys first of all I want to start by saying that yesterday was really nice and the reads are getting more precise from day to day. GIII LOL what a read and nice trade. Spiked just before open, last candle and then the open small tiny spike and just fail the whole day. Got in right in the mid of the first candle overlapping the last PM one and it was a sweet trade. As usual I covered way to soon but the last thrid ran a bit more. Second trade of the day, EBIO shorted at 1.56 Right at open, no volume nothing just fade most of the day. Still have 3k short from same avg, will try and sit on it cause its not looking good. NIHD did exactly what I thought it would do in the morning and i Scalped the spike sold half just around 1.20s but the other half got stopped out on cause it overextended and gave back gains. LOXO really small trade but a nice one also got in really small size when it washed exactly to the 68 and later on in the day touched 72, ofcourse I sold earlier but those are just all lessons to learn to let my winners run more. And thats exactly what I am trying to do with EBIO so lets see what happens today.
DRWI- Announced a deal with Smartsky for their device being used in the IFC expansion. Ok this is a good thing for them, thats true. Thing is this has a ton of speculators that will try and pound it down. Its a former big runner and squeezer so it can def get going. Now vol is crucial for this guy so I wonna see a huge volume spike at open- at least 400-700k in the first candle. It can def go today if it gets the rotation going, really small float - 7.7 mill. Two price levels I want to enter at a small wash to 0.90 or a stay above the 1$ mark. Some resistance levels above, 1.20s and 1.32s are the places where it can head if it gets going. IF it by some chance breaks these levels it can end up who knows where. The think about this stock is it gives up gains MOST of the time, not always of course. So do not rush into anything and add add and add into abyss. It can leave a big wick to the upside easily.
GIII- Today a different type of play on this one, they raised guidance and they had a smaller than expected loss so generally I was bearish but it basically collapsed. Look for a small wash and maybe some rebound. If it starts topping out at like 23.6 or 24 I might re-short. but if it washes and holds 22.5 and 22$ I might look for a small rebound day.
EBIO- looking for further downside momentum on yesterdays all day fader. If it tests 1.35-1.33 level and cracks this could turn into a really big trade. cause if those levels go this ends up maybe even under 1$
LOXO - Still have 100 shares long. LOL. very nice trade, might re-add. Ok two specific types of plays. Either it has a spike after this small gap and stuffs into the 74 I sell my long and reverse into a small short. Or it washes to 70 or 68 which are very important levels and bounces fora nice big green day. So IMO either a doji or a nice green day. Will wait and act accordingly.
/CL today again inventory day and one thing I have noticed on inventory day is, ok we all know it spikes hard first min both ways and just flies around unpredictably but later on most of the time it will give back a nice chunk of the gains in either way. So we all know its people reacting to the EIA number when it goes berserk after the report but in general this can be a nice scalp when it does seem to find a top or bottom. Of course its a double edged sword and we need to be very careful when trying to trade like this. I felt the wrath of being stubborn against inventories once and it was a 1k burn on me. LOL. My short term speculations is that the report goes into surplus and price reacts bad to that. but this is just an opinion so nothing to blindly follow. Todays forecast is -3.464M so if it stays above that we might see some upward momentum but if it goes under we might see a big crack.
Best prices to get short are drawn out in our plan, and are around the 48$ level. Ofc ourse its like always a big avoid until it stabilizes after the report or be prepared for big price swings. Bearish in general short term
Have a great day guys and trade safe like always especially on this day.