Wild futures action, but I think we open limit down again and probably a 7% halt in the am. Unemployment numbers are going to become front and center for the economic data going forward I think. Yes, the Covid numbers matter and they will continue to fly until we all just STOP doing everything. Either way, market now needs to price in the potential for 30% historic unemployment and how long that might last (I pray it’s short and just a blip) because that will matter BIG time. Anyways, here is the list of names I will come to the market with tomorrow
INO – Every single trader and options trader knew this would be on 60 minutes so tomorrow is anyones guess. I think a decent gap up, rip for 5 mins then hard fade. If we get $9 or $8 as base with a grinding action will look to get long.
KO – Amazing move here and I think we are at 5 year lows. Was full on sell mode yesterday but this one is a name I will toss into long term account under $33. I think tomorrow we get a test of $35 pretty easy and will look for the bounce trade.
PEP – Same idea as above but looking for $90 washout
CGC – Weed stores have basically been over-run and you might find some first time buyers there. Either way, Cali has them listed as “essential business” so might become a theme there so one of the main charts on my screen for me. All reactive trades.
TLRY – Same idea as above but this one has 60% short so could get an easy move to the upside.
ACB – Cheapie if the other two really start to move.
CVSI – Had nice action early in the morning on this one. Will trade if it can break over that .50 level.
GAXY – Huge one in the close. Lot of people are long so don’t think much of a gap and run but more a gap and washout trade for the long. I did keep some overnight and will sell likely an big gap over .07
FTR – Worth an eye. I think the eod move was all about re-balance however worth a chart on my screen just in case.
Thanks
Thanks Cody!