I adjusted the stops as shown below. I regret that I did not increase my long position in AAOI two days ago when we got a buy signal. I really hesitated and then waited too long.
In the current market environment, I believe that stocks like BEAT and IRBT could bounce on a shorts covering rally. BEAT issued earnings that were basically non-GAAP massaged, but GAAP look horrible. On the other hand, who cares about numbers? Both IRBT and BEAT are broken stocks, but they are not about to go under.
BEAT, IRBT and AAOI display interesting accumulation patterns.
The Supply patterns however look much more advantageous for AAOI, which sits on a strong support and low Supply levels.
The Trade ideas for today are below.
On the short side, only RACE looks interesting (Note that the short VXX/VXZ ideas are in fact equities bullish trades.
On the long side, I also added in Blue a few pipe-line. They look good, but their accumulation level is still low.