Morning Notes July 24, 2020
Fire Trading

Morning Notes July 24, 2020

NTZ Natuzzi Renews Its Securitization Facility

• Stock gapping up +1.20 If we can keep up this volume and momo I think we can run this one today. I would love to see a slow low volume pull back, back down to $2 and under than start watching for the curl and grab it LONG for a nice push to the upside, but if this breaks and holds below $2 grab it SHORT and fade it off back down to $1.25 and under. (BULLISH)

ABUS Moderna hasn’t shown Arbutus patent claims unpatentable

• Stock gapping up +1 I think this ones time is up, I think it should fade off today. Watch for a pop at open to $10 watch for topping and SHORT it for a nice fade back down to $7 and under. If this starts showing some weakness at open and breaks below $6.75 and holds, grab it SHORT and slam it down to $4 and under and be done with it (BEARISH)

BJRI Earnings Beat

• Stock gapping up +1.80 this should be a fun short. Watch for a pop at open to $21.50 watch for topping and SHORT it for a nice and easy fade back down to $19.50 and under. If this pull at open to $20 and under than we can start watching for bottoming and grab it LONG for a quick bounce (BEARISH)

SKX Earnings Beat

• Stock gapping up +2.50 this is one of my to SHORT setups this morning, this should be a fun one. Watch for a pop at open to $35 watch for topping and SHORT it for an all day fade back down to $32 and under. If this starts showing any weakness at open grab it SHORT and slam it down to $31 and under and be done with it (BEARISH)

MRNA Moderna hasn’t shown Arbutus patent claims unpatentable

• Stock gapping down -3.80 because of ABUS, I think this should get bought up. Watch for a quick pull at open to $67 and under than start watching for bottoming and grab it LONG for a quick short covering bounce and all day grind higher. If this holds $70.80 at open and starts to push, grab it LONG for a quick pop to $75 than top it off and let it pull back and consolidate before grabbing it LONG for the next leg higher (BULLISH)

EHTH Earnings Beat

• Stock gapping down -23 this should get bought up a bit before we can top it off and short it. If this starts to get bought up at open grab it LONG for a quick pop to $100+ than top it off and SHORT it back down to $90 and under. If this pulls at pen to $85 and under start watching for bottoming and grab it LONG for a nice short covering bounce and all day grind higher (BEARISH & BULLISH)

INTC Earnings Beat

• Stock gapping down -8 this should get bought up before we can top it off and short it. Watch for a pull at open to $50 and under watch for bottoming and grab it LONG for a quick short covering bounce back up to $52.50-$53 than top it off again and SHORT it. If this starts to get bought up at open grab it LONG for a quick pop to $55 than top it off and SHORT it (BEARISH)

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