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Down-channel

SPY (S&P500)- 525% profit in 1 day!! You didn't see that coming!Last night we talked about a Head & Shoulder on the SPY, and discussed Taking 238 Put option position on SPY. As entry criteria we discussed SPY to run upward around 237.50 - 238 to form the Rigth shoulder & drop from there. Surprisingly SPY went up at 237.50 in the morning. We considered to take a 238 March 24th Put option for $0.64. After that SPY ran all they way down to our target are 234!! Put went up from $0.64 to wapping $4, that was 525% return on a single day!!! Hope you joined us in the party. (For entry clarification please check our relevant SPY post yesterday)
AMEX:SPYShort
by AcornWealthCorp
SPY - H&S formation short from $237.5 t0 $233 (238 Put option) SPY appears to be in a short term H&S pattern. It may reverse to $38 area to form the second shoulder & that will be place where we would look for shorting opportunity. At the break of H&S it can decline to $233-34 area. * Trade Criteria * Date first found- March 20, 2017 Pattern/Why- Possible Head & shoulder formation Entry Target Criteria- Break of $237.5- -$238 Exit Target Criteria- $$233-$234 Stop Loss Criteria- N/A Option - Speculative trades may consider $238 Spy Puts. Please check back for Trade updates. (Note: Trade update is little delayed here.)
AMEX:SPYShort
by AcornWealthCorp
GPRE - Big insider selling Possible Short from $24.00 to $14 GPRE seems forming a Long term double tap Head & shoulder formation. It also has a lot of insider selling. Aggressive trades may want to enter into Short trade now, but we would like to wait a bit for perfect entry. * Trade Criteria * Date first found-March 16, 2017 Pattern/Why- Long term double tap Head & shoulder Entry Target Criteria- Break of $24 or lower Exit Target Criteria- $14 Stop Loss Criteria- $24.73 Please check back for Trade updates. (Note: Trade update is little delayed here.)
NASDAQ:GPREShort
by AcornWealthCorp
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