Still short $DEXO, long $MCZ $CIM
1. $CIM - 120k shares bought by insiders in the end of November. A fellow trader @otrain mentioned the "January effect" in consideration of my $CIM pick that I am currently long in (very few shares right now however). I knew some stocks take massive runs towards the end of the year with holidays and such, but didn't know of the actual coined term "January Effect". I don't plan on holding $CIM that long. But getting in now as it is close to breakout point brings momo players and with it passing its 20dma it becomes more attractive to other technical traders. The inside buying in the past month brings another group of buyers. All these together can be the perfect storm or an ugly mess.
2. $SVNT - Pharmaceutical company with market cap of $162million. Beta of 1.41 so thats decent...Short interest on this is 27 million, 43% of their float short right now and 16 days to cover. Good for a short squeeze with a good press release stating they cured every disease known to man...or more realistically just Gout. I would like to see this over its 20dma of 2.49 with volume carrying it over 2.54. 3.30 would be goal as bagholders will be wanting to get out then as well.
3. $ONTY - Decent amount of shorts still in this one, 31% of the float is short. Most definitely showed some short squeezing intraday. I don't want position long right now. Obviously missed the boat on this one as a nice 2 day swing, but it's worth a watch for a day trade or scalp.
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