ARWR: I saw the huge gap up, which was bigger than any other gap up it has had in the past. I was cautious of shorting it until the backside was in just due to the strength it had. In the beginning it looked like the dips were holding on the 8.9 level and it looked like it could have trapped shorts because each time it broke through the support it came right back. I was looking at a potential long scenario there but the support fell and so I looked for any pops. There was a quick pop to 8.9 and it hovered around there for a minute or so, which gave a great short opportunity but I didn't take it unfortunately. From then on it just fizzled the rest of the day. A bit disappointed I didn't take the retest of support short. First arrow shows the dips holding and then the second arrow shows the retest.
CNAT: I saw that this had faded from the huge run it had last night so I figured if it sold off like that then it would be a good short on any pops. There was a good opportunity near the open when it had a failed push to get short (marked by the first arrow). I was thinking of initiating a short at the second arrow because it looked like an ok lower high to start into for continued weakness. That would not have worked since it squeezed a bit but I saw it stuff 7 and then have lower highs which is where I should have shorted. Had I been playing it I might have shorted where I wanted to and then stopped out but then hopefully reshorted after the stuff and lower highs.
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