S&P $SPY Pulling Back: Is 370 the ultimate completion?
$SPY has been pulling back consecutive days and we referenced the gap-ridden ascent in previous TV ideas.
This is a great time to watch for buy zones: TSLA, among many others, are now sitting in great positions for long plays. The S&P is seemingly due to retrace lower regions though, so as of now: This trader's $ is fully parked. It has been since the short squeeze last week that has only rendered the positions once occupied, redder still. FCEL in particular, failed to fulfill an ascending trade channel and has pulled way back since exit last week. The notion that several stocks, including the S&P itself, complete a head and shoulders formation, is fully in play. It is a great time to be out-of-position, whatsoever the case.
We're looking for more pullback is the TL;DR version of this.
Thanks.
-BDR
This is a great time to watch for buy zones: TSLA, among many others, are now sitting in great positions for long plays. The S&P is seemingly due to retrace lower regions though, so as of now: This trader's $ is fully parked. It has been since the short squeeze last week that has only rendered the positions once occupied, redder still. FCEL in particular, failed to fulfill an ascending trade channel and has pulled way back since exit last week. The notion that several stocks, including the S&P itself, complete a head and shoulders formation, is fully in play. It is a great time to be out-of-position, whatsoever the case.
We're looking for more pullback is the TL;DR version of this.
Thanks.
-BDR
Trade active:
Purchased a $389 $SPY Put EXPIRY FEB 22 , @ 1.70 per. LEGGO. Sh** the Bed, market.
Trade closed manually:
Profit to the tune of roughly 17% on this put. Sold close to the market open after the weekend's dip.