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INO: Interesting twist here. What should have been a morning cover rally turns into another potential problem. The signs were there when it wasn’t dying through lunch. 7.70 area of interest tomorrow, ideally weak open into there and if it holds again, would expect similar results to today, probably higher coming. Otherwise, looking to short pops sub 7.70 on any failed follow through.
CODX: Same plan as INO here. This one has the potential to get more out of hand than INO in my opinion because while both stupid, it’s easier to sell the testing kit story than the vaccine story. Everyone knows INO isn’t creating a Covid vaccine anytime soon. 11.50 o/u area of interest on this, again like INO, either weak open into there that holds for long idea, or shorting pops sub 11.50 on failed follow through. Gap ups on either of these names I would wait and let the open play out to see what it looks like, no opinions on that scenario right now yet.
AYTU: An absolute gift this recovered to 1.70s a/h today. Higher the better early and looking for the reshort anywhere around 2. Very stupid “me too” catalyst and has no business getting any legs again, and likely wont.
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See you out there!
– D
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