Rob.Reynolds
Long

Disney bottoms while S&P 500 crashes?

NYSE:DIS   WALT DISNEY COMPANY (THE)
Have a great day all!
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Do you think we'll retrace a little bit lower (around $126-$128) or go sideways and rip higher?
+1 Reply
100% @Vinny10, I think that's possible. This trade is a lot easier for me to manage now as I'm up so I have set myself a generous stop loss at $120 which will ensure I return 4x what I risked. Below $120 this is far too deep for a wave 4 and something alternative to my idea is at play.

Hope this help Vinny, have a great day!

+1 Reply
Vinny10 Rob.Reynolds
@Rob.Reynolds Awesome, thanks for the visual. Part of me feels the above would happen while another part feels we'll go to recent highs, sell-off, go sideways a bit and continue higher. Let's see what happens. Longer term, this stock is going to rock it!
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There is a gap it left when it broke-out, who knows it may come down to fill the gap when it reports its earnings.
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@gvoommen, Gaps typically get filled when they move against the trend. Gap up on an uptrend means it's less likely to get filled.
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