Carvana - More Fish To Come? You Bet!After the first post about CVNA, I bailed out on a small loss (see linked Chart). But then Immediately loaded Puts and had a good "Steak & Lobster" time §8-)
Price behaves like textbook when we consult the Medianlines trading framework and rule set.
First price reached the red Centerline, followed by the expected pullback to the white Lower-Medianline-Parallel.
If the "Fish" can't manage to jump back into the white Fork, then I expect much more downside to come. If this is the case, we have two good looking PTG's at PTG1 & PTG2.
To me, this Scam Company (see my first post) is done. It's just a matter of time.
For the longer time frame, I will check out ITM LEAP-Puts and let them profit from the ride to the south.
And for short term trades, I just wait for pullbacks as it did now, and take it short to finance some of my LEAPs, Dinner and Weekend Holidays.
Isn't it nice, how we can find good even in bad? §8-)
May the Fish be with us!
