Back in May 2020, Buffet sold much of his airline stocks. This added the final capitulation for airlines, marking the low for 2020. Today, we got a nice hammer candle and a bounce from that exact pricepoint.
Looking to get in with calls if we take out this hammer, with a stop below the COVID lows.
RSI is extremely oversold.
I understand this is a counter-trend trade but feels right for a bounce.
I will update the trade with exact option details if the trade triggers.
Comment
I got triggered today.
15 DEC 23 20 CALL Limit Buy: 2.95
Comment
I closed my trade today at 3.75.
Locked in profits after a big move in the market. Will see how the market digests these big moves before getting back in.
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