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PYDS – This was top watch yesterday somewhat by default. There were some good eps plays but this was the only real micro momo runner. They’re in an interesting spot because I believe earnings are due out next week. Their volume yesterday was easily the best of the year and they actually sustained intraday gains nicely. They also closed at $2.60 which is a key technical level on the 52 week daily. They have an S-3 that is currently ineffective, but once made effective in my opinion changes the outlook of this entirely. Until then because the $2.60 level is so important I think either red or green open and sustained through 10AM EST is an important metric.
X –As of now this is the EPS play du jour. This is a slightly larger market cap compared to what is typically featured in our watchlists and therefore is less restricted by some of the limitations in micro cap world. I prefer EPS plays at 52 week highs, but in this market climate these have been nice tickers to resort back to.
TRXC – By default they’ll stay on watch. I do believe their volume the past two weeks has been substantial enough to get a ton of their warrants off. In a slower micro climate shorts oftentimes are eager to find something and that may actually give this slightly more longevity than expected.
UVXY/VXX/TVIX – We detailed yesterday how some upcoming macro events could potentially make these interesting. However in the interim the contango and futures roll down is setting us up for what looks like more all time lows. The perma shorts continue to win here. What has been a bette trade than this over the last 5 years? Obviously this trade is no secret now so we’ll continue to play cautiously.
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