Leggo My Ego for The LEGO Batman Movie

Although I probably will not be viewing The LEGO Batman Movie (2017) anytime soon, where surely Harry Cohn and other legends of Hollywood yesteryear are rolling over in their graves, the reality is that the film won the box office this weekend. 

The film also did well over $1 million alone in IMAX, which brings us to an actionable trade idea.

In front of earnings on February 23rd, I am looking at IMAX as a long idea to squeeze the many shorts in the float. And when you consider the overall market tone here, with the potential to wreak havoc on stubborn shorts in heavily-shorted names (see CLF MBLY TSLA today) if the market truly blows off higher, then IMAX becomes all the more appealing as a long. 

On the IMAX daily chart, below, note the long sideways base here. IMAX is back over all daily chart moving averages with today's bounce. A move again up toward $34 would trigger a long swing before earnings.

More ideas in my usual Midday Video for Members.