This is such a great trade. Aside from the entry, the technicals are amazing. Its also been crushed on the days following earnings. You inspired me to post an idea on MGM. Will make sure to shout you out!
MichaelEugen1
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@rudcharts, I appreciate it. THe entry looks bad, but I haven't actually shorted a single thing yet. I am trying to time the very top on SPY, likely going to be today. I'm glad I gave you an idea!
rudcharts
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@MichaelEugen1, either way, even if it goes up a little more, current price is still good. At resistance after pullback and overbought. I took trade today
MichaelEugen1
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@rudcharts brother, I’m ecstatic right now. I suspected a bounce on FOMC, hedged it well, shorted the rip and rode it all the way down. MGM and FTNT dropped on earnings as well AH. Incredible day :)
rudcharts
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@MichaelEugen1, youre the man my brother. MGM so good. Glad i got in. Macys will be a nice one, in that one too 😉 RGR killed it aftermarket. Check out SWBI. Similar set up, both gun stocks, should follow same steps
MichaelEugen1
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@rudcharts, That's a sector I've never charted before; this might sound odd, but they've got really high dividend yields for something I'd prefer shorting, lol.
rudcharts
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@MichaelEugen1, you stay in your lane. Youre a gem. Thats something to apply to any aspect in life
rudcharts
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@rudcharts, but why dont you trade high dividend stocks? Whats considered "high"?
MichaelEugen1
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@rudcharts, Anything above 3-4% I don't tend to short- reason being is when you are short, you have to pay the dividend. It's just a bit annoying
rudcharts
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@MichaelEugen1, so safe to assume you straight up short instead of doing Put options?
Aside from the entry, the technicals are amazing.
Its also been crushed on the days following earnings.
You inspired me to post an idea on MGM. Will make sure to shout you out!