LOWE'S - Look For Longs. $245 Is the Target for Shorts
Quick read, for once.
Lowe's is down 7% following ER. Another ER dump. This is really notable for a few reasons:
1. Big moves on the first of the month always make me think reversals
2. Lowe's isn't really bearish on monthly or weekly bars
3. The real short setup for economic disaster is in the $240 range
4. Dump swept out weekly/monthly/daily sellside pivots
5. Gap fill
6. Overall market is not as bearish as it was during last Lowe's ER dump
7. Equities market makers love to "gamma squeeze" rip the other way after a little bit.
However, the weekly bars do show a three drives-style pattern
But it's only the wicks over range equilibrium and it's never traded to a deep premium, which is what you really want to see before new lows are going to be set.
Monthly shows that this isn't a bear market, either.
March 31 $200 calls lost $8.5 on the news.
You still have to be super careful because of geopolitical risks:
1. The Chinese Communist Party has not reported a single COVID case since Jan. 10, and this is almost impossible to be real. The reality is that the CCP is likely very, very weak right now and could fall at any time.
2. Elon Musk has warned, which confirms with multiple other sources, that Russia is about to launch a very large scale offensive in Ukraine. He would know because Starlink is the only thing keeping Ukraine with even a shred of hope in the battle. Equities down, commodities up is what that will result in, just like when the war was launched last year.
3. When it's time for the CCP to go, and it's going to happen very soon, you can expect there to be a clash between the India-Russia-Saudi/BRICS type entities and the United States/NATO globalists because everyone wants China. All the "hawkish" chatter on "China" (note it's rarely ever against the CCP itself) (("China" is not "the CCP")) from America is gearing up to take over the Mainland by way of the globalist groomed Chinese nationals it has parented so as to install all the woke globalist things and completely ruin what little is left of the country's 5,000 year culture as they go for a real New World Order/One World Government
With the way everything is acting I kind of suspect Lowe's may not be finished dumping, but imo this is one of those situations where one should "be greedy only when others are fearful."
$186 would be a really sweet entry and you have to sit on your hands for 2 or 3 months or at least roll out your winners.
See my Nasdaq/SPX/Dow calls for thoughts on the markets at large and potential timing.
July is the target for when things really get scary.
Lowe's is down 7% following ER. Another ER dump. This is really notable for a few reasons:
1. Big moves on the first of the month always make me think reversals
2. Lowe's isn't really bearish on monthly or weekly bars
3. The real short setup for economic disaster is in the $240 range
4. Dump swept out weekly/monthly/daily sellside pivots
5. Gap fill
6. Overall market is not as bearish as it was during last Lowe's ER dump
7. Equities market makers love to "gamma squeeze" rip the other way after a little bit.
However, the weekly bars do show a three drives-style pattern
But it's only the wicks over range equilibrium and it's never traded to a deep premium, which is what you really want to see before new lows are going to be set.
Monthly shows that this isn't a bear market, either.
March 31 $200 calls lost $8.5 on the news.
You still have to be super careful because of geopolitical risks:
1. The Chinese Communist Party has not reported a single COVID case since Jan. 10, and this is almost impossible to be real. The reality is that the CCP is likely very, very weak right now and could fall at any time.
2. Elon Musk has warned, which confirms with multiple other sources, that Russia is about to launch a very large scale offensive in Ukraine. He would know because Starlink is the only thing keeping Ukraine with even a shred of hope in the battle. Equities down, commodities up is what that will result in, just like when the war was launched last year.
3. When it's time for the CCP to go, and it's going to happen very soon, you can expect there to be a clash between the India-Russia-Saudi/BRICS type entities and the United States/NATO globalists because everyone wants China. All the "hawkish" chatter on "China" (note it's rarely ever against the CCP itself) (("China" is not "the CCP")) from America is gearing up to take over the Mainland by way of the globalist groomed Chinese nationals it has parented so as to install all the woke globalist things and completely ruin what little is left of the country's 5,000 year culture as they go for a real New World Order/One World Government
With the way everything is acting I kind of suspect Lowe's may not be finished dumping, but imo this is one of those situations where one should "be greedy only when others are fearful."
$186 would be a really sweet entry and you have to sit on your hands for 2 or 3 months or at least roll out your winners.
See my Nasdaq/SPX/Dow calls for thoughts on the markets at large and potential timing.
July is the target for when things really get scary.
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