Description
AAPL has had a nice run up following the upside break of its intermediate bear trendline (descending 2pt red line) on 24 JUN, forming its new intermediate upside trend (ascending 2pt green line) all the way up to its Descending Major Bear Trend (descending 3pt line) cemented on 30MAR.
This week and the next will certainly end with a clearer picture...
Description
TSLA Began the formation of this Symmetrical Triangle after achieving an ATH @ 1243.49.
The Symmetrical Triangle is a common congestion pattern, typically indicative of continuations, accompanied by descending volume (on chart) and a heavy volume on the breakout.
My point of contention with this pattern is okay volume on the breakout. It is only...
Description
Been watching this wedge in Lyft, and it caught my attention when it broke to the upside on 05NOV, trade here
The throwback into the pattern following the breakout increases my ease with this short position.
The trigger was a break and hold below 46, which occured yesterday.
Today LYFT went to retake the accumulation line but failed, leading to...
Description
CWEB has been working it down from its ATH since FEB of this year, and has gotten stopped up in the congestion pattern.
I have been watching it to pick a direction to enter a position and it looks like it finally has broken to the downside.
I have been using Long Puts in all my short positions because I do not want to cap my downside potential to...
Description
BA has been working this Descending Triangle from its post-covid crash high around 278. There was one false breakout to the upside on 15NOV, which I traded, related idea linked.
Descending Triangles are bearish in nature, and the implied move carries BA down to 137.
Intermediate supports are at 194, 179 and eventually 144.5.
The immense amount of...
Description
UBER began its bear market after the break in the major trendline July. It has now broken through major support established from the ascending triangle that was built in MAR - NOV timeframe of 20' and was also tested in SEP of 21'.
The break through 38 is the signal for the entry, and also the stop loss for the position.
Using long puts to leave the...
Description
Been tracking the descending triangle that DIS was working since early MAR, with a short alert set and triggered on the lower boundary. It was a massive gap though (an indication of a strong break-out), so I have been waiting on a retracement before entry.
Today marks a solid rejection of the resistance set in NOV19 and retested before the gap into...
Description
TMUS began its bear market following the major trendline break in August. It has now broken through major support at 108.5 established SEP - OCT of 20'.
The break through 108.5 is the signal for the entry, and also the stop loss for the position.
Using long puts to leave the downside open.
The level of the VIX right now is my primary concern in...
Description
DKNG appears to have made a break in the neckline as well as a back test, and I will be entering a starter Long Put position.
For the larger time frame, refer to the idea I published here:
Technical Indicators:
Break in the neckline
Death Cross on 29OCT
Neckline rejection today
Good volume on the breakout
Using Long Puts
Long Put...
Description
Snap has been working this pattern since DEC20, making its ATH in September of 21' and appears to have broken the lower accumulation line.
The trigger for the short position is @ 50 on the weekly time frame, but 49 on the daily time frame, so the position here is a starter. Following a back test or definitive continuation, I will be adding to the...
Description
DUK has been working this patter that looks a lot like a head and shoulders, missing some volume indications. If so, the neckline has been broken here at 97.
As always, most patterns are not confirmed until they are already over.
The break through 97 is the signal for the entry, and also the stop loss for the position.
Using long puts to leave the...
Description
TWTR remains in extended downtrend that began in FEB of this year. Began broadening formation in August that ended in a breakout to the downside of both the broadening formation and the major trendline that began in MAR of 20'
Long Put
Levels on Chart
SL on a daily close over the lower trendline in the broadening formation. This can happen and a...
Description
AAPL Demand line rejection and impending bearish MACD Cross.
Long Put
Levels on Chart
SL on a daily close > 150.
*Stops based off underlying stock price, not mark to market loss
The Trade
BUY
11/19 145P
R/R & Breakevens vary on fill.
Manage Risk
Only invest what you are willing to lose
KMX beat on earnings, but did it deserve to jump so high? They've returned to growth, ie stopped sucking. But was that worth such a huge and quick gap between 50/200dma. I'm hoping that it's going to deflate a bit in the very near term... at least drop to it's 200dma for a moment...
Long put at 60 for May. It's only .15 to buy and underlying would only have to...
Gamestop seems to have a lot going against it these days.
They report earnings on Tuesday.
Q4 is always their biggest quarter. If they miss, I think it's going to hurt.
Even if they don't miss, how rosy can the outlook be?
$10 April 18 long puts can be bought for .57.
Shooting for an .08 ($8) debit fill here. It's a lotto trade (which I hardly ever do), but I think that the drug will ultimately not be approved.
The potential profit is $795/contract, but that's if the stock goes to "0." Additionally, it will only "play out" if there is news prior to expiry. Otherwise, it'll stay way up here.
