JD, the ESOL play was over for me with the morning gap. Sorry, I cant post regularly since I am too busy trading throughout the day.
Anyhow, here's my take on ESOL:
As I have discussed millions of times, the MMs are screwy with this stock. The best way to play ESOL is to trade it on any news that comes out. Also, historically, ESOL will make most of its gains (a pop if you will) in the first hour of the day and then will drift back down.. this is providing no news. Therefore, smart money will either buy at the end of the day lows and sell on the morning pop or short at the morning pop and cover in the afternoon.
I foresee ESOL gradually rising, however, traders are having too much fun scalping the daylights out of it long and short..
one more thing, the MMs are greedy.. therefore use their greed to their advantage. I've been able to get in between the spread and sell above the ask many times. Apparently, MMs dont care where this thing goes, they just want order flow.. try to sell for 1/16 to 1/8 above the ask with 1000 share trades and use a fill or kill order in succession 5-6 times in a row and usually one of the MMs will bite.
Good Luck!
Snipe' |
