PCAR has been doing range bound trading since earnings. It usually fills open gaps so maybe it finally pops up this time? I dunno, but picked up some stock today while it was red because it was at the bottom of the trading range.
We'll see how it looks next week.
Note: Chart is hourly, indicators don't mean anything. I just have a standard plot I use.
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Note: this is a short term play, PCE numbers Thu before market open. Not gonna play that, I think we start seeing rebound inflation.
Trade closed manually
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I decided to dump this and get some sleep, lol.
Bought it while it was red Friday, nailed the morning pop almost right at the top. Decent money for less than 1 market day, good enough.
It's how I made most of my money last year in my retirement account, go long on PCAR only on days when I expect the market to go up based on futures indicators. Worked again :)
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Boy am I glad I closed this yesterday, I had 2k shares. No idea why it tanked so hard this morning, I guess someone (or multiple funds) decided to unload a substantial position on open.
It left a gap down but I expect the market to reverse tomorrow and drop Thu so staying out for now.
I don't see any company specific news, so really strange that it was one of the biggest losers on my board this morning. Bit of a head scratcher, just glad I got out yesterday.
Think it could have anything to do with Thursday? It seems every time I start thinking there's risk coming, traders start bailing on stuff about 1 to 2 days earlier than I expect. I don't know why I keep thinking that they'll all wait until literally the day before. It makes me late on some things.