DaddySawbucks
Long

GM: Don't bet against Pickemup Trucks!

NYSE:GM   GENERAL MOTORS CO
Cyclical stock, truck sales booming online with retail stores closed, lol. Buy em sight unseen, delivered to your door!

Downside at the gap from 22.68, could fill, would be a buy opp if it does. H&S pattern evident, stock had unsupportable runup, trades at fair value.

Either get a bounce from $25 headed back to $35, then $40 at cyclical highs, or 10% correction to fill gap then bull again IMO .

In the Aug $25 calls, short Jul 28s in $3 bull spread for under $2 premium. Keep shorting weeklies against the long contracts to pay for them.
Bought shares in a covered write as well.

Just an idea; not investing advice; trade at your own risk! GLTA!
Comment: Would like to see that gap close before adding any IMo
Comment: IMO we got a 4th wave in DT would not go long here yet.
Comment: Starts to look attractive IMO

Comments

Imma gonna wait until next week.
Reply
DaddySawbucks hungry_hippo
@hungry_hippo, Prudent; IMO that gap needs to close then its a buy.
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