Blackstone ,,, buy opportunity There is an uptrend and finishing at about 50-61.8 Fib PRZ. After ending a correction on weekly time, the last wave is a pullback to a broken price level and a good bullish candle as a trigger for buying. As always, setting a good SL is a guarantee for our trading. not bad idea sl at about 94 .
BBN1 trade ideas
BX - A Rolling Stone, DownhillBX weekly candle close was epic, a bearish gravestone doji. What makes this set up even more saucy is that the measured B wave is currently at a 1:1 ratio for its a=c waves (not labeled) and it retraced 50% of its A wave (normal place for the B wave to end). Sell side Algos are also in play, with PA reaching the half way back for the entire move down and a golden zone for a significant swing high pivot. Algo targets are below, and noted with white lines at roughly 57 and 53 (this is also the golden zone retracement for the entire move of this stock from all time lows to all time highs - noted with the red rectangle)... geometrical measured move of A=C is the yellow path and would return to a logical region for EW retracements of leading diags (which the entire move up could have been). Risk is easily defined - if weekly PA closes over the golden zone or the half way back (white line just above), then the immediate bear path is invalidated, and one would look for more candle structure to offer clues. GLTA!
BX Blackstone Options Ahead of EarningsLooking at the BX Blackstone options chain ahead of earnings , I would buy the $86 strike price Puts with
2023-2-17 expiration date for about
$3.50 premium.
If the options turn out to be profitable Before the earnings release, i would sell at least 50%.
Looking forward to read your opinion about it.
BX = see a pattern? BX is once again respecting the limits of the regression channel, setting up a perfect short entry here. In addition to the anticipated move down, we know BX has been struggling in this high rate environment, and paused investor redemptions previously.
Price was FIRMLY rejected at the Point of Control (POC), trend has gone from green to yellow, and the 9 ema has crossed below the 20 . I expect price to pass the mean of he regression at $78.85, and test from underside, before continuing down to the lower channel line.
Sell call spreads above the $99 mark or buy at the money puts, April regular.
Short on Private Equity - BXA lot of people are thinking that this bear market is already in it's later innings. If anything, it's probably the opposite given that inflation has not yet broken, employment may only be starting to see it's cyclical decline, etc.
Private equity has been heavily levered during this cycle, and in general has dumped gobs of $ into shit investments (see the amount of private equity $ flowing into crypto junk over the past 2 years for example) that will eventually need to be marked down. Private equity has long been very pro-cyclical, and as the bear shifts into a proper more traditional recession, the publicly traded PE giants should all fall in tandem. Some will get hurt worse than others - picking BX here simply since it's the largest. Other targets include firms like $KKR, $CG $APO, $OWL, or you can even just short the etf $PSP.
AS of today (11/14/2022), a lot of these have retested top ends of bearish ranges and are getting smacked back down. With a big opex and things relatively pinned, I think there is still good opportunity through November to get good positions short of these, but I still think there will be chop for at least a little bit.
Support broken on Blackstone. BXBlackstone is going down.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Confirmation level, where relevant, is a pink dotted, finite line. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe.
Blackstone Inc joins the overbought clubBased on historical movement, the peak could occur anywhere in the larger red box. The final targets are in the green boxes. The pending bottom should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated SELL on May 26, 2022 with a closing price of 118.28.
If this instance is successful, that means the stock should decline to at least 117.58 which is the top of the larger green box. Three-quarters of all successful signals have the stock decline 2.609% from the signal closing price. This percentage is the top of the smaller green box. Half of all successful signals have the stock decline 5.353% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock decline 9.08% from the signal closing price which is the bottom of the smaller green box. The maximum decline on record would see a move to the bottom of the larger green box. These are the same concepts for the levels in the red boxes as well.
The ends/vertical sides of the boxes are determined in a similar fashion. The trough of the decline can occur as soon as the next trading bar after signal close, while the max decline occurs within the limit of study at 40 trading bars after the signal. A 0.5% decline must occur over the next 40 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 10 trading bars; half occur within 29 trading bars, and one-quarter require at least 36 trading bars.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).