I opened a 1/2 short CERN position. Not convinced by this position, but I need some "skin in the game" to better feel it.
As a side story, I invite you to follow ENDP. It is a "broken" stock now, but past studies have shown that it is good to buy broken stocks if the three following conditions are met:
1. Supply level lower than 10%
2. LEV positive for three days in a row
3. Stock not risking bankruptcy. (Probably not the case of ENDP for now as interest rates are very low.)
You can see below the Supply evolution: we need more "churn" around the $16 prices. If the price falls below $14.5 (its Lower Boundary), then recent buyers will start selling and the stock will fall further down.
However, if we stabilize here and LEV starts increasing, then it is a good bet that selling has abated and buying becomes a real possibility. Not a standard trend following type of trade, but in such an environment, anything is possible.
The trade ideas for the day are below.