NASDAQ:META had a good run, but now that run is coming to an end.
I started buying puts today when price was at $524. I bought 6/21 300P. There's a chance price could break the current highs, but it wouldn't change my bias.
I think starting later this month, we're going to start to see a large move down in META.
Overall, I think there's a possibility that price goes down below where it was in 2022 at the $78 level for a final bottom. I think it's also possible that it could play out this year.
All that said, let's take things week by week from here. I'll probably buy some lottery tickets that expire end of year just incase the most bearish scenario plays out.
Good luck to bulls from here on out. It's not going to be pretty.
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So far, spot on. Let's see if earnings furthers the move lower or if we see one more spike to mark the top.
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Going to add to my short position tomorrow pre-earnings.
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A failure to break $510 is the trigger short.
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So far it's playing out, but I'm not going to take a position for earnings. Will wait to see what happens. I would've preferred price action staying positive until the bell, I don't like that the move higher has already been faded, which makes me think there might be a positive reaction to earnings.
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If we get a big bounce before end of day back to range highs, it'll make me take a short.
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Ended up taking some lotto tickets 4/26 $400. Happy to lose it if it doesn't play out.
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Welp, the lotto tickets likely to play out now.
Charts tell the truth.
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Don't get caught in this move up. We're still heading lower.
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Bought some fresh puts bc "Slickz94" thinks we're going to $500 in a few weeks, which tells you all you need to know about sentiment and a lack of understanding of the chart.
Purchased: 420P for 5/17 for $.22
Let's see how close to the top his comment ends up being.
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lol so far the comment marked the top. Up 15% so far.
@benjihyam correct again. You saw it how I saw it. Glad I am seeing things clearly. Fantastic! Went for a walk, elusive sun is out. Missed the giant drop because it went soo fast! Should have sold at 490s seeing the struggle bus it was on all day, lacking all strength. BUT there is always next time! I have learned not to chase! Hey! There is huge progress with my mindset! No more FOMO trades via late entries. Cash is king when your brain gets emotional.
@cyberluck, Scalped from 420 and got tf out. I don't trust it and am not sure what 1030 will bring so it may be a loss if chasing the last few dollars. Too volatile. We saw what it can do last night, plus Friday market tomorrow, plus MSFT earnings tonight...
flybigmac
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Nice
Invisibie
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Nice
CEO_444
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Ppl always want there bias to be correct rather than trading what’s in front of them guaranteed loss