INVN is an intriguing short squeeze play if it can clear $26, seen on the daily chart, below.
Also of note today is the strength in refiners such as DK TSO WNR.
In addition, keep an eye on biotechs BLUE CLVS for further gains.
What are you trading today?
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I scaled down more of my TWTR long inside the 12631 Trading Service this morning, as the market faded the initial move higher in the tape. The goal there was to continue to harvest gain in a solid, pre-holiday week winning trade and take some risk off the table before Labor Day.
You can be sure that volume will shrink throughout today’s session, as many head towards the beach to enjoy what remains of this summer. I would not read too much into the action today, though the gold miners are perking up as I write this.
Names like DGLY GPRO continue to attract the day-trading, hot action crowd before the holiday, too. Beaten-down issues like FEYE SPLK YELP are trying to make a comeback, too.
As far as shorts, the Russia ETF rolled back over hard this week, and Visa may be ripe for me to take it again.
Major casinos probably should be bouncing here, but if the Macau strike weighs on them into next week it could get ugly to the downside.
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CORN over $26.70 and WEAT over $13.14 would still have my interest in playing these soft commodities for snapback rally from beaten-down conditions.
Which stocks are at the top of your watchlists this morning?
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In the event we see a further rally this week, here are some actionable long ideas which are heavily-shorted.
Please click the screen shot below for a larger view of my “12631 FINISH HIM! SHORT KILLER SCREEN” inside The PPT. Obviously these stocks are going to have the highest percentage of shorts and, according to the algorithm, are set up well to squeeze further.
If this bull goes buck wild, this is a great idea screen.
Members can click here to view and save it.
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12631 member @Greekpunk reminded me of BBY as a viable pre-holiday long setup, seen with gap-fill potential higher on the daily chart, below.
While the chart has much work ahead to heal itself, I like it as a quick long idea over Thursday’s high of $32.46 to clear some recent price congestion and threaten the gap-fill above.
Drop me your top tickers overnight.
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If you enjoy my blog posts and videos, then I would encourage you to please click on this 12631 hyperlink for more details about joining our great team of traders at a very reasonable price. 12631 is a trading service which @RaginCajun and I direct here at iBankCoin.
Enjoy tonight’s video, and enjoy your evening.
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