Went long today, I still think it's repeating the highlighted area..... which would make sense. I think the whole market bounces up Monday because it's oversold and hit support, then a small gap up Tuesday followed by selloff and double bottom next week.
Just a guess, I'd rather have it go pumptarded and fill that open gap up top, lol. Either way, I'm bullish for earnings, hope I'm right.
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I'm gonna give PCAR one last chance here for earnings, if I lose money I'm probably gonna start trading IWM and SPY instead.
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I scaled down my bet to 1k shares for earnings.
I think it;s just gonna move with teh market after beating tomorrow.
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Looks like it is more or less trading with the market today, I've seen it go up more on no news, lol.
Made a buck a share day trading it this morning right on open, cashed out because I still think it repeats the highlighted area.
Holy cow, what crazy action about 30 mins ago. PCAR dropped over -3% in moments. Volume went through the roof and almost as quickly +2.7% was put back on. What a close-the-gap moment! Then down again, then back up to about where it was. Crazy. Looks weak though. Congrats to whomever managed to buy during that dip. Made 2/SH in less than 15 minutes.
BoomerMo
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😂 LOL, welcome aboard. I was wondering if you'd truly stay out. You're in for a better price than I am though.
hungry_hippo
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@BoomerMo, I've made over 100k on this stock in the past 3 years, you know I gotta go with it. there is a rule "don't fall in love with a stock", but generally speaking, I usually lose money on a trading scheme before I give up, lol.
Also, teh entry conidtion into earnings is the exact reverse of last quarter (went on a big up streak then dropped), this time around it sold off beore earnings so we can see the exact opposite happen on earning.
BoomerMo
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@hungry_hippo, Well, I just DCA'd another 50% in size. If the stock rallies the rest of today and Monday, I can still get out ahead of earnings if I want.
Part of me is thinking it'd be nice to hold through earnings though. My problem is, I have to decide if I think this is a "typical" year for a Q4 rally or if this is 2018 all over again. I'm leaning toward 2018, but that doesn't mean that there can't be rallies on oversold conditions. But a bad ER on TOP of a 2018-style year-end would gut this trade.
hungry_hippo
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@BoomerMo, I'm sticking with the play though I may dump some Monday
@hungry_hippo, I'm in for the weekend, but I'm so lost on what this market is doing. It just makes no sense. Traders must be thinking Europe and Asia will continue tanking on Monday. Or hell, maybe that other guy is right and everyone thinks an invasion over the weekend is a go.
I was thinking that I may also cash out of some of my trade on Monday. I've got two trades open right now and I'm bag-holding on both. Ugh. At least they are both in companies that I believe in long-term should I choose to hold.
I can't help but get the feeling this is 2018. Both bets have earnings next week. Haven't decided yet if I'm holding for both those events.
Congrats to whomever managed to buy during that dip. Made 2/SH in less than 15 minutes.