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Morning Watchlist 4/5/20

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SHIPPERS (RLOG DCIX TOPS SHIP GLBS DSX DRYS etc…) – Not all of these shippers are created equal, frankly two of them have distinctly bad fundamental characteristics and I will be watching very closely for a potential short. I do not want to share which two they are yet as I’d rather not draw anymore eyes than necessary to the trade. With that said if you want to discuss this one on one feel free to email Overall I do feel shipper are still a matter of which ring leader takes the lead and dictates how the sympathies trade intraday. I think most are aware this is round 2 for a shipper mania and rarely is the second fling anywhere near as dramatic as the first.

MYO – Huge runner yesterday following their EPS on outlier volume. Their IPO was semi recent so there isn’t a ton of content to dig on but I do think their ineffective S-1 is notable. If that does become effective everything changes. Until then I’ll see if liquidity and volume can hold up and mess with the ‘I’m shorting because it’s up a lot’ crowd.

SNAP – They had terrible eps results that wrecked them afterhours. But now this morning Tencent has taken a stake in the company and in turn we’ve had a little revival. Since the revival though they’ve been sold off fairly heavily yet again. I’ll be watching for technical premises on the wide intraday range.

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