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Morning Watchlist 4/06/20

Please read our disclaimer at the end of this watchlist. If you want to speak with us more in depth about our trading please join our free chat or email Some days you’ll notice there is no watchlist, that is because the morning DD to be done on those days is especially heavy.

CDTI – This was an interesting runner on Thursday, and they did not crack on Friday despite a considerable loss in volume. We’re entering Thanksgiving week which is notorious for micro runners getting a shot in the arm, we’ll see if they happen to be one of those names. What is notable about them is that they do have shares out from an offering at a level that is debatable as to whether or not the investors still have their position to dump. Remember sometimes momentum trumps logic.

DCIX – After a major gap and crap on Friday DCIX is trying to push back. They’re part of the shipper galore movement. Obviously the overhead in this situation is more than just considerable…it’s insane. We’ll see if Thanksgiving week momentum is what they need to actually sustain a multi-day push, for what it’s worth I would not be banking on that.

MRDN – This is starting to fade away as nobody looks. On Thursday they surpassed a handful of thresholds at which there were shares to dump, not so coincidentally they didn’t sustain gains especially well. In such dire fundamental situations I feel as though traders sometimes forget to zoom out after a stock is well off their highs, this is still far above where the rally started and I doubt there’s going to be much future impetus to hold them up as the Thursday close already dramatically improved MVPHS.

VIX/UVXY/VXX/TVIX – Right on schedule VIX etn’s are continuing their crush after November expiration. Last week we saw a brief sign of life from these but there was no real follow through. I’m still sitting on a modest sized short of commons in VXX, we’ll see if a considerable bounce or unwind is on the horizon.

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