Best strategy would be selling call spreads against 383. Expect the market to drift, not explode higher from now on. So even though you're wrong, it will give you enough time to react and roll higher.
If we gap up tomorrow, that would be the perfect time to sell spreads.
$AMZN might not even pull back, just building another flag to challenge ATH. So if you...
So it was a giant bull flag.
It's now right on 1.618, the stupidest strategy would be to buy calls and hope for another party.
$AAPL had a third gap and run on Thursday, blew up almost 2% in the morning and the gave up all its gain on the same day, that to me was a loss of momentum, sellers getting aggressive. Don't expect the Q to do much without aapl
It's been 5 days, just look at $NFLX and see what it did after 5 days.
Sell 385/390 weekly call spreads, money in your pocket.
or 380/385 if you're feeling lucky.
Might get a pop with the mkt TOMORROW if the NFP is good, and that's your cue.
peace out.
Biotech is all the rage, I'll play for a quickie short on this once it gets to 412ish, provided it puts on a reversal candle of some sort first.. It'll be highly technical, you have to be very surgical, it's like picking pennies in front of a train, it's like cheating death, and me likey.
A better way to play this is to sell some call spreads once it gets to 412...
Likely to close that Gap.
I'm starting to see that big ol household names are good shorts. $WMT, $COST, $HD and such.
Sporting high P/E and not much growth. And how safe can they be, they're equity after all.
Looks dicey.
Interesting notes:
On Thursday, when market was tanking, this was in the green.(Can be interpreted as the first attempt to regain but failed)
On Friday, when market was rallying, this was in the red.
No idea what's going to happen.
A very powerful bounce of HD from 100. Rallied $4 in 1 day.
Though I still think that 2.618 is a major resistance and top. A failure to take out 107 or a broad market rollover won't look good for HD. But now, it's pure fiction.
Again, it's fiction.
