Insane run. 1,300% gain in ~515 sessions. Currently sitting on a Sept 17 $90 put but after today's move, thesis likely to change toward a bullish stance. if It breaks out to ATH, cutting my losses and doubling calls. Everyone talks about Tesla's run, but what does Avis do? - They rent death traps. Yep, that's it. SMH. This market is INSANE.
Idea for CAR:
- There is nothing more of a bubble than used car market right now.
- See Technicals on chart.
- Capitulation date Aug 27.
TP1: 46.75
GLHF
- DPT
this company is a turd, the stock is a f ing champ. It's insane how it's trading. Can't logically reason why it's doing this but whatever. this market is dumb. Scalping here for a bit
I've been beating the drum on this garbage; I told you the transports were the biggest f ing wannabe chase in the market today; they led the S&P up, they'll lead them down. Bigger than expected loss into earnings. My guess is that the dummies will still throw money it if the transport ETF catches a bid manana.
You thought TSLA was overbought, this rental turd...
This stock is up 540% in a year, at an all time high and reporting negative earnings. They sold off a huge swath of their fleet during COVID and can’t buy new rental vehicles due to the current backlog from auto manufacturers -who are catering first to retail. And yet up 500%+. Hmm.
The right time to short $CAR?
Finally, the trendline has been violated after an Evening Star Pattern formed on the daily chart.
We can clearly see that this stock has been on a strong uptrend since the pandemic, and has almost doubled from the pre-pandemic high ($52.90). Meanwhile, AVIS BUDGET has not been fully operational, sold a big chunk of its fleet and...
reffing a pretty lopsided game here. the buyers have been absolutely crushing the sellers, but we're seeing some sanity at this latest wave, albeit just a glimmer of fear come back in.
it's likely all bot driven at these levels, have to think the fund managers are on early vacay ahead of the crowds, working on their tans, sleeping in, getting room service...
More egregious pumping. The level of lunacy & greed is on this market is blatant. Who the f does coverage on this company? rental turds death traps on 4 wheels valued more now than pre-pandemic? Excuse me while I go puke in my mouth.
Eyeing some weekly puts, please go up more so it looks like bitcoin on a 5 yr tards.
I like CAR, primarily for its volatility. I am surprised to see that it was so resilient so far.
I mean, the rental car business got hammered last year and this stock is fully recovered and then some.
So, if everything in the economy gets rosy, it's kind of priced in already.
I am making a short bet with 3/19 50 puts.
By the way, I don't do YOLOs or other stuff...
