MDB is completing a gnarly corrective wave and is showing signals the local bottom is in. I just entered Mar 22 420 calls for 1.10.
Buy Zone = 360-370
Initial Target = 420 by 3/20
~~If it breaks 420 it will squeeze a lot higher. If you followed me recently I was bearish on MDB and it dropped as expected, now its an opportunity to enter long.
One of my favorite companies to trade.
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So in the time it took me to post this idea after buying calls, the premiums already increased to 1.40. Its a buy still if you get in under 2.00. They will sell for well over 8.00, possible 11.00-13.00.
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The main level we need to break en-route to 420 target is 396.66.
Bigger Picture:
- 427 is major pivot for larger structure, so a bounce to 420s could simply be a test of the pivot, if rejected it will continue down; if breaks above then we will rally to new high in the coming months - After 427, 461 is the next critical level where the breakdown in Feb initiated.
Near-term: I would love an opportunity to average down on more calls here if we get one last pullback to 363-365 (not counting on it though but fingers crossed). Today will be the bottom (i.e. won't drop below 362.30).
*** Stop loss 362 ***
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Some important confluence that boosts my confidence this is bottoming here:
Going back to June 2023, the gap that started MDBs recent rally was 365-370, which is where it is re-accumulating now before attempting massive breakout that will take it to test all time highs from back in 2021.
Beautiful structure with a ton of volatility.
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Starting the walk up my black arrow/forecast. In the event it deviates too much above the path I'll take some profits and if it deviates too far below I'll add. The trajectory will act as a magnet as this bounces.
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Averaged down on the Mar 22 420 calls for 0.60. Average cost = 0.85.
Still Bullish.
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Added Mar 22 420 calls for 0.45. Average cost = 0.72
Entered MDB Mar 22 400 calls for 1.33
This is the bottom.
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Added Mar 22 400 calls for 0.80, average cost = 1.07
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This video explains why I added big on MDB this morning
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We have until 1pm to accumulate as many calls as possible before whole market takes off.
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Not giving this enough time was my initial mistake. But doesn't change where this is headed (400s). I'll be entering Apr 5 380 calls at whatever premium we get this morning - big discount (likely 4.00-5.00).
-Paying up here will give huge gains. - Look back to Nov 6-7 2023, we are just filling that 347 gap this morning and it will get bought up quick so don't be scared to load up here. - My prev. target was 420, but since I am extending the expiration I'm actually seeing this running to 447 (+100 points); the 380 strikes will be worth 67.00 if I'm right.
Yesterdays breakout level was 359, but that level changes when a lower low is realized, so if the low is around 347 then the new breakout level will be 353.
Hopefully you can see how shorts have no where to go near-term. With MDBs volatility breaking 353 can happen within the first hour of trading today - and thats all it needs.
My style is unusual to some of you probably but I'm not worried here, moreso grateful for the discount and adjusting accordingly.
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ENtered Apr 5 380 calls for 2.75
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Apr 5 calls already up 40%
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Sold half of the Apr 5 380 calls that I entered this morning for 4.18 (+52% gain). Holding the remaining half until they get in the money.
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If you followed my lead this morning and entered the Apr 5 380 calls (despite the initial Mar 22 play not working out), then you secured 52% realized gain with my update midday, and the remaining calls closed at 4.70 (up 71%).
- Not selling those yet, this is just getting started
- Don't get caught up on occasional losses, the show goes on. Gotta realize the opportunity like with the play this morning
- Next couple days should be fun
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Took profits on half of my remaining Apr 5 380 calls at 7.30 (165% gain). Holding the rest for the continuation to 380-400 (potentially higher).
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Loaded the boat with Apr 12 370.00 calls for 7.50.
(1:10pm 3/25; underlying 354.54)
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Last chance to add Apr 5 and Apr 12 calls for a discount. I added PANW and MDB calls, tomo 3/28 is the catalyst.. you'll see.
Also entered MSFT calls
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Sold my Apr 12 370 calls for 6.40 (-15% loss).. could have been a lot worse, they were only 1.50 yesterday.
Here's the deal on MDB:
- still bullish, this is setting up for a major move in the coming weeks. - However, High probability of one last pullback to make a higher low around 347-352 (point target 350) early next week. If this occurs it will kill the Apr 12 370 call premiums again. I Will be Re-Entering calls if we get that pullback, but I'll be looking at the Apr 26 expiration.
~There is still a chance this continues higher to around 372-373 before the final pullback, so if you don't mind the risk stay in and make some profit on the 370s. If so I recommend a tight stop loss at 357. Not financial advice (this could turn on a dime here).
I don't have the time to watch this closely today so I'll re-analyze market this weekend and have some fresh plays for next week.
Crazy shit. All those people asking someone to be 100% accurate. Even making him responsible for their own actions. You are the trader taking the trades, and if you follow someones approach blindly...take it as a man and stop crying and bashing. when you can do better, do so. Being succesfull is about your own strategy, not about 1 single trade
dabearded_traveler
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@KRIDDIVE, 100% right my friend! Do your own analysis to back it up and learn. When Jerry initially posted this I went out further. I love this guys work.
CrashBandicoot99
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Just a few trading days left until the captains portfolio is blown. Does Einstein finally cut his losses this morning on Panw and Mdb??? Of course he won’t. When you’re reckless in your trading, won’t obey stop losses, keep dca, and expecting a stock to move 20% in a few days. Deserve to get wiped out clean for 100% losses.