Welcome back to today's lesson on the thought process of both $SSC and $CVSI as I came out of this week with significant profits.
$SSC spiked about 120%
…in the pre-market and is showing us a classic bounce short. When we look at the long-term chart, there’s a decent amount of resistance; however, every push I made resulted in nothing. I was trying to follow a plan because of its large float and hoping to bounce short, but the stock had other ideas.
$CVSI though, had massive hype when dropping 60% of its high in one day. Some people would say that a real stock wouldn’t do that, so it has to be dip-buyers. My main focus was finding the crack around $5, which held well. Noticing this crack is why I made a move to short, so keep that in mind as we move forward.