JC’s been pounding the table to me about Abbott Labs $ABT for a couple weeks now.
I’ve been slow playing it, waiting for some new highs. We’re getting them now. It’s time to get involved.
The base $ABT formed over the last three months is a thing of beauty. And the fact that it’s in a hot sector and printing new all-time highs is only sweetener. Then when you add in the fact that options premiums are at the lowest levels since March and I’m starting to get pretty excited. [Read more…]
I don’t prefer getting long stocks that aren’t breaking through to some kind of major new high or an all-time high. But every so often the stars align to play for the end of a major downtrend with some clearly defined levels of support to lean against.
We’re finding that right now in the recently maligned Marijuana stocks space. [Read more…]
Sometimes, the generous idea guys at All Star Charts just happen across something that immediately catches their eye and they post it up quick on twitter.
Today Steve Strazza offered this up on Virtu Financial $VIRT:
This is Virtu Financial $VIRT, a HFT which benefits from the wider bid/ask spreads and higher volumes that accompany periods of heightened volatility… price is attempting to break out above its YTD highs ~26 pic.twitter.com/1ZmRO29QwS
— Steven Strazza (@sstrazza) July 16, 2020
That base, and the low volatility in options immediately caught my attention too. These are my favorite setups: Blue skies up above coupled with low vol.
So I’m keeping it simple and swinging for the fences. [Read more…]
Who knew I’d be turning to China for an online education?
Well, that’s just what I endeavor to accomplish with a trade I’m working to enter today. [Read more…]
The fine gentlemen at All Star Charts have released with latest Quarterly Playbook with themes to be aware of for the next three months, as well as trade ideas within sectors and individual stocks that are setting up. Head over here for a deep dive and great read.
One idea that stood out to me is an e-commerce company focused on pet supplies and medications. No…. not pets.com. LOL [Read more…]
Quick update on our NKLA trade that we entered on Wednesday. [Read more…]
Believe it or not, there’s a “tech” stock out there that is ripe for a short trade.
I know, I know…. shocking. I was surprised too.
And it’s offering a nice bounce to sell into today, so let’s get to it! [Read more…]