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UVXY// VXX : Last 30 min into the close on SPY was not healthy at all. Everyone starting to think its alright to buy dips again for a slow move back up and then BOOM it loses $4.00 in the blink of an eye. These ETFs are gonna be in play for a while it seems. I think the closed puked all the longs out on SPY so if we start to hold trend in the morning the ETFs might start to unwind. Keep in mind, I can be totally wrong and the market can continue to sell off in the morning. Shit is NOT EASY right now. Whipsaw everywhere. Will have a better plan in the morning on this depending on the way the market gaps up or down. Will post more in chat in the morning.
SNAP: Pretty large amount of buyers today on this one. Don’t think its gonna be a one and done. Im looking for the long on this in the morning. Ideally < $20s for a move to $22.50s near term. Might look to swing this as well.
BSPM: Looks like this isn’t giving up so easily. Although I would never trade this thing on the long side it looks like there is decent risk/reward for the long using $4.00 as a guide in the morning. I rather wait and short near $6.00+
RIOT: Gap and crap today. Would be using todays highs as a guide in the morning to short if strength shows up.
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