(Today current confirmed is 35 cents H/L spread)
Monday a vicious drop to the open, but on the day after open of $11.44, high was $11.54 and free fall to day low $11.22, close $11.24. Thus, day volatilityspead was H / L = 32 cents.
I expected similar 32 to 40 cents on Tuesday, so bought the low open. We are now in intra day whipsaw of low $11.89 and high $11.24. Thus U is a weak trade here, looking for a weather change and increase in demand short term.
A change in over night temps, lower than Sun night and Monday night may keep whipsaw in place through Wednesday.
We see some traders on this BB repeat, I am in, I am out, for a few pennies, often 3-5 cents. As a day trader I want to see whipsaw and expect it from market. Thus it is realistic to see that dip back to $10.97 move up to $11.15. If D is on a solid correction than big players will take HNU down and we see lows of $10.50 before report.
Here a buy at $10.97, tight stop is the original entry $10.92. If intra day action sprerad holds I will not see a stop out.
GLTA Cheers Manxcan