PLTR Short and Near-term Outlook: UnpopularSMO
Entered into this trade looking for some short and near-term movement to the upside after earnings speculation.
I like to set up trades based on movement in volume, this stock was a prime candidate given its movement.
Watching the stock over the last seven days we can see that it wants to continue its bullish trend. Volume continues to remain strong as buyers believe the stock is going higher. I will continue to watch volume inflows to determine the overall sentiment of my position. I'm bullish in the short and near term, if we see a run to test the next high I'll sell and look to re-enter a trade at a later point in time.
I like the overall micro picture as well, seems we're going to have a smooth transition with the Trump administration telling the incoming Biden administration that they are ready to transition. ('allegedly?') Dems seem to be bent on taking Yellen, which should lead to spending, which will continue the dollar slide and drive equities higher.
My contracts expire in December on Christmas Eve, I'm in no hurry to liquidate my positions based on price action.
$SPY, $PLTR
Full disclosure: I currently hold a position in this stock. $19 12/24/20 Calls. This is not financial advice.
I like to set up trades based on movement in volume, this stock was a prime candidate given its movement.
Watching the stock over the last seven days we can see that it wants to continue its bullish trend. Volume continues to remain strong as buyers believe the stock is going higher. I will continue to watch volume inflows to determine the overall sentiment of my position. I'm bullish in the short and near term, if we see a run to test the next high I'll sell and look to re-enter a trade at a later point in time.
I like the overall micro picture as well, seems we're going to have a smooth transition with the Trump administration telling the incoming Biden administration that they are ready to transition. ('allegedly?') Dems seem to be bent on taking Yellen, which should lead to spending, which will continue the dollar slide and drive equities higher.
My contracts expire in December on Christmas Eve, I'm in no hurry to liquidate my positions based on price action.
$SPY, $PLTR
Full disclosure: I currently hold a position in this stock. $19 12/24/20 Calls. This is not financial advice.
Trade active:
Still active in this trade, congratulations to anyone who has entered into this trade over the last week or two weeks. The yields, dare I start to say that I feel it might start getting a bit euphoric at this point.
Continue to trend lightly and watch volume closely, expecting an average day's volume to trade on this stock on a half-day Thursday which could send it higher with less trading. Might sell at end of the day or roll out in expectation of a pullback depending on Thursday price action and volume.
Anything sub 25 is a buy in my honest opinion. I'm still expecting upside next week after everyone talks about it over the holiday weekend with family.
Enjoy my work? Buy me a beer. (optional)
BTC: 3Pmk9CA4aA7PSzaz7qJvFjb1AiTciQi8Bi
Cashapp: $OMGSMO
Continue to trend lightly and watch volume closely, expecting an average day's volume to trade on this stock on a half-day Thursday which could send it higher with less trading. Might sell at end of the day or roll out in expectation of a pullback depending on Thursday price action and volume.
Anything sub 25 is a buy in my honest opinion. I'm still expecting upside next week after everyone talks about it over the holiday weekend with family.
Enjoy my work? Buy me a beer. (optional)
BTC: 3Pmk9CA4aA7PSzaz7qJvFjb1AiTciQi8Bi
Cashapp: $OMGSMO
Comment:
Still Holding.
Trade closed: target reached:
Exit this trade during morning highs will look to re-enter the trade shortly based on price action and volume Monday.