Hey everyone, welcome back to another Video Scan. We have a short week ahead since the market was closed on Monday for Presidents Day, so we will have some extra time to prepare. Dawson is joining us on Scan this week to share his market thoughts and Main Watches.
We will be seeing Dawson in person as well this week because Traders4ACause is having a regional event in Salem, NH on Thursday, February 20! A lot of traders and members of the IU community will be there for it (Stan, Chris, Nick, Anthony, Ariel, Nate, Jack Kellogg and more!), so if you’re in the area we look forward to seeing you there! Tickets are available here.
Video & Game Plan
Main Watches
MBRX on watch for 1.85 breakdown and short. It’s still up from .40 at these prices. Two days of exhaustion volume into levels looking left. Warrants were 5.8mil reduced down to 1.11mil – unreg .75 closing soon.
AIFF clean moves frontside – respecting g/r frontside and r/g backside. Two backside fader days with the high of day set at the opening 9:30 bar. Plan is gap down sub 8 flush, then 7.80 test opening range highs break for a first green day bounce trade long.
OMGA breakout watch. Daily hasn’t gone away. Liquidity trap style daily with the cheapie sector theme. Holding up well even with a fundamental short thesis as consensus.
TIVC lots of 1/A’s (filings). Less than 2 months of cash. Looks like it needs to offer soon. Daily suggesting “easy” quiet fade last 2 days. If volume can hold up, relief bounce before they tap their paper could work for a long trade. Weak opens for bounce are ideal.
HIMS daily extended, first red day watch. Opening range lows held each day for three days. RSI near 90, definitely overbought levels, doesn’t mean can’t keep going. Watching for pullback day, wicks into Friday highs and volume pretty high would be ideal for a mean reversion trade short.
SERV on watch for a bounce trade somewhere around the 11-12.50 area depending on the action Tuesday. Ideally a gap down and stall then catch some late shorts off guard and make a higher low and mean revert back up. SOUN similar situation and will keep on watch for a guide since they sold off for the same reason with Nvidia cutting its positions in the companies.
TSM will have on watch for continuation higher on possible US partnership news with Intel. Unless the news reverses or we get more information it should have potential to run. On watch for calls. INTC will be on watch if things fall apart and it would be the go to for downside with puts if the news goes bad.
AAPL will be on watch into its event on Wednesday the 19th. Could spark some small caps with satellite communication or robotics mentions.
PLTR monthly options expiration week so looking for Thursday / Friday mean reversion trade with puts.
IONQ thesis is that the top is in and these names are finishing up a bigger picture clear out move and likely have a long fade down for nearly round trip similar to QMCO / ARQQ charts.
Thanks guys. Great ideas.