I've taken a short position in APT and my emotions are running hot.
My last big trade was a tankers play where I was lucky enough to buy on 24th March and sell a month later for close to 50%. It was a large position so I was absolutely stoked with those returns, but have been fully cash since then and suffering a massive amount of FOMO as every stock seems to be just powering ahead.
Are we due for a sell off or big drop? Is this a dead cat bounce? So difficult to say right now with the state of the market, the euphoria but also the massive amount of money printing - how can you quantify that?
Anyway, at some point you have to jump back in and take a position and I'm starting with the ASX darling APT.
Main chart points for me all point to a big slow down in momentum
- RSI bearish divergence
- OBV very high but may be turning
- Price action is very severe, it blasted past its previous ATH before the market crash
Looking at the US market today is quite bleak, everything is red, ASX today is teh same. Look at todays candle for APT it dropped 7% and is back to break even for the day.
Emotionally this was a very hard trade to take, which I take as a good sign. Regardless of whether you're bullish or bearish Afterpay is a great stock to follow as it seems to have such violent moves, obviously a big fan for retail traders.
Good luck to all involved.
************
DISCLAIMER - This is not financial advice or recommendation to buy or sell. I am not a financial advisor.
etc
My last big trade was a tankers play where I was lucky enough to buy on 24th March and sell a month later for close to 50%. It was a large position so I was absolutely stoked with those returns, but have been fully cash since then and suffering a massive amount of FOMO as every stock seems to be just powering ahead.
Are we due for a sell off or big drop? Is this a dead cat bounce? So difficult to say right now with the state of the market, the euphoria but also the massive amount of money printing - how can you quantify that?
Anyway, at some point you have to jump back in and take a position and I'm starting with the ASX darling APT.
Main chart points for me all point to a big slow down in momentum
- RSI bearish divergence
- OBV very high but may be turning
- Price action is very severe, it blasted past its previous ATH before the market crash
Looking at the US market today is quite bleak, everything is red, ASX today is teh same. Look at todays candle for APT it dropped 7% and is back to break even for the day.
Emotionally this was a very hard trade to take, which I take as a good sign. Regardless of whether you're bullish or bearish Afterpay is a great stock to follow as it seems to have such violent moves, obviously a big fan for retail traders.
Good luck to all involved.
************
DISCLAIMER - This is not financial advice or recommendation to buy or sell. I am not a financial advisor.
etc