Morning Notes July 27, 2020
Fire Trading

Morning Notes July 27, 2020

SOGO No News

• Stock gapping up +1.40 there was some large amount of call buying last week, we could see this one run today. Watch for a pull at open down to $6.50 and under than start watching for bottoming and grab it LONG for a nice all day push to the upside with room to $8.50-$9 on it today. If this does pop at open to $8 watch for topping and let it pull back and consolidate before grabbing it LONG for next leg higher (BULLISH)

TCRR TCR2 Therapeutics announces interim data for Phase 1 of TC-210 trial

• Stock gapping up +7 I think this should just pop and fade. If this pops at open on heavy volume through $21 let it run to $25 than we can start watching for topping on it and SHORT it for a nice all day fade, but if this gets rejected that that $21 level grab it SHORT and fade it off back down to $17.50 and under on it. If this start showing any weakness at open grab it SHORT and slam it back down to $16 and under and be done with it (BEARISH)

HAS Earnings Miss

• Stock gapping down -4.50 this should be a nice fade today. Watch for a pop at open to $74.25 watch for topping and SHORT it for a nice all day fade back down to PM lows and under. If this does start to pull at open grab it SHORT and fade it off (BEARISH)

MRNA Moderna’s BARDA agreement expanded to support larger Phase 3 COVID vaccine trial

• Stock gapping up +5.50 I think this should get bought up today and make a nice run, but id like to see a dip at open first. Watch for a pull at open to $75 and under than start watching for bottoming and grab it LONG for a nice bounce and all day mov to the upside. If this does pop at open to $83.65 watch for topping and let it pull back and consolidate before grabbing it LONG for the next leg higher (BULLISH)

BIIB Biogen double upgraded to Overweight from Underweight at Morgan Stanley

• Stock gapping up +7.40 Nice upgrade this morning, but you know our rule for upgrades…watch for the gap fill before grabbing it long. If this cant hold $279 at open grab it SHORT for a quick scalp back down to $275 and under than start watching for bottoming and grab it LONG for a bounce and all day grind higher. If this does pop at open to $283.75 watch for topping and SHORT it for an all day fade back down to $275 and under (BULLISH & BEARISH)

AAPL Apple removed from Analyst Focus List at JPMorgan

• Stock gapping up +4 we have to wait for this on to setup, but once we do I think we could fade this one off today nicely. Watch for a pop at open to $380 watch for topping and SHORT it for a nice all day fade back down to $370 and under. If this does start to pull at open grab it SHORT and fade it (BEARISH)

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