The last few days clearly showed us that we are somewhat in summer type market action, meaning that there are less plays out there that we can focus on. Also, we have observed that all day trends are not the typical price action behavior the last few days. We often see a nice morning move before we start getting into a choppy afternoon. Therefore, it is more important to nail the mornings and take profits along the way rather then overstaying and giving back unrealized gains!
Nice curl off the $11.50 dip on the daily chart on bigger volume. We are already trading at 13.50s in premarket trading after they released positive news yesterday during the after hours session. The plan is to trade it reactively, meaning that depending on in which direction the stock forms a trend we want to join it.
Nice little unwind yesterday after they announced that they are selling some stake in another company. The plan for today is to join another confirmed short trend for a potential $14 fade.
EQT CTL COST all keep unwinding nicely. The plan is to join another confirmed short trend until they stop fading and buyers start showing up. It is important to note here that especially those kinds of stocks have nice morning fades before they start getting choppy for the rest of the day. Hence, nail and bail!