As Bullish As It Gets (Near-term)
Updated
Bears/shorts are about to get absolutely slaughtered over the next couple weeks. By the time everyone switches long it will tank... Same story every time.
I just went long MSFT with a buy zone 413-419. I will add if we get another lower low but not expecting that.
Initial target 427 by 4/5.
Goal Target 440s by end of April.
Stop loss close below 407.
Don't short this yet.
#Sincerely,
BILLIAM YATES
I just went long MSFT with a buy zone 413-419. I will add if we get another lower low but not expecting that.
Initial target 427 by 4/5.
Goal Target 440s by end of April.
Stop loss close below 407.
Don't short this yet.
#Sincerely,
BILLIAM YATES
Note
Bought MSFT Apr 12 425 calls for 4.90.Not Financial Advice.
Note
Breakout level to continue to the 427 initial target is 422.72. 3 possible scenarios I'm seeing for today 3/28, in order of most likely:1) Gap up over 422.72 and continue directly to 427 by end of day (4/2 latest)
2) Consolidate briefly around 422.72 and then breakout to continue toward target (depending on how long it consolidates, latest it will reach 427 in this case 4/5)
3) Gap down to 416-417 (412-413 lowest) and then make explosive bounce directly to 427 (I'm actually in favor of this scenario because it would give an opportunity to load the boat with discounted calls)
Regardless of which of the above scenarios, this is a bullish setup and it will hit 427 by end of next week. 427 point target, 425-429 target range.
-I will be taking profits on half my position in the initial target range
- after it hits that it will pullback to test 422.72 for support before continuing higher to goal target of 440s by end of April. I will add more calls if 422.72 holds as support, and if not I'll sell the remainder of calls
-Intermediate target on the way to 440s is 433. I will take profit on remaining position there
Note
This bullish leg will complete the structure marking a major top, so this play is only for near-term options, not shares.- if I was in shares I'd be taking profits along the up-move
- First warning sign top is in pre-maturely is a lower high followed by a lower low (so, if we take out 427 but then drop below 412 it has risk for further decline to 398)
- This could take the form of an extended wave/blowoff top where it blows past 440s and continues to 450s+... this would create an opportunity for the short of a lifetime.
Long term target is 270-300, so I'm bearish long term.
Note
Break back below 420 is a signal that its making one final lower low (scenario 3 in the update above).Catalyst coming with this data release this morning.
Trade closed: target reached
Sold my position for 7.35. +50% return.
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