Don't think I'd take more than half today, the retail crap is over for the next foreseeable and likely distant future.
This one should've paid everyone by now, so roll those profits.
- P, Pig.
Helpful Tip: Put XRT on your watchlist and have it display the 14-Day RSI. It's already overbought, but if you see it pass 75, then you're very close to a potential entry (In foot locker or any other apparel retailer that is not LULU).
Let me know if this all makes sense.
sounds great I'm new to this and just by chance the companies you are looking and posting info on are similar to what I'm thinking especially DKNK. I cant see retail hanging on to much longer when we open up and the initial wave of stimulus check holding people dies down and we still posting major losses each day. Thanks for the info just trying to figure out if these gains are going to hold up tomorrow so i can get a better deal for next week.
I am a bit too short URBN as it stands, with my protective calls hedged in there. So I'm good from retail POV, but have two others that I plan to increase put size on tomorrow:
-DKNG - Way overbought, looks like a blow-off top forming. Stocktwits feed is manic, which is biggest tell before a huge drop. (See VTIQ chat 2 weeks ago for reference).
-ROKU - Just look at the chart. Also, see 002 Piggish Play for details.
Longs - NBIX, CRWD
NBIX - Longa BIO in general bc I noticed some sector rotation out of retail and into Bio, probably bc of the big conference next Tuesday = catalyst for pumping rest of week sector-wide.
CRWD - See 003 Piggish Plays for details.
Right now i have a few oil puts that about to pay off USO and UCO( thought i would double dip, not saying it was smart) I figured every thing got pumped up to send us in to a nice 3 day weekend last week hoping we would drive across the U.S., that did not happen. Also, figuring 100K covid related death will be all over the news around mid week, just as every one is about to completely open up, volume was so low Yesterday.
Thanks for all your info you post, already fallowing u, gotta go through all your info and study your strategy, good luck to every one tomorrow. I know we all have the same idea, make enough money to pay off our debt from the last crash 8*(
One important thing tho - there was a period of about 2 weeks during April when Oil would uncannily selloff at 2 pm, causing equity prices to fall for about 45 mins. This pattern royally f'd up my volatility short more times than I can count. Turns out that a bunch of institutional quants were dumping oil, then buying equities at a discount into the close. While I suspected something like this after having gotten screwed on multiple ETF intraday setups, it makes Oil a no-trade category for me altogether and I'd suggest staying away for good. Those quants are currently being investigated, fyi.
Regardless of what you choose to trade, stay strong my friend and be sure to make cake rest of the week. Going to bed (hopefully).