Looks like crap today, lol. I did post that I sold all my shares yesterday morning right after I sold.
Bull scenario is still the green line but it looks just the same as it did when it failed to break out and tanked on bank news. Overlay is that drop.
Even with my bear scenario, it still gets a pre-earnings pump like last quarter, so there's a chance to play that when it hits support at the $64 or 65 range. That pump would then create the right shoulder in a H&S pattern.
Time to look for a new stock to play I guess (bummer). I'm still inclined to play any gaps.
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Note: CAT is a better short if you trade options because liquidity is better and it has weekly options. Not to mention CAT usually goes down when the DOW does.
Also PCAR chart pattern looks just like last April.
Trade active
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Buying this dip and playing the gap fill again. Just 1k shares, leaving room to add in case it double gaps again like last time
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My overlay has this going to $70 on the next market bounce even if it doesn't fill the gap
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Not adding because I bought SPY/QQQ this morning. I don't want to go all in with a long weekend coming. If I was gonna add, it'd be QQQ. I think they pump the crap out of tech to get the ES1! gap fill.
Industrials need a dead CAT bounce, literally. CAT dragging the sector down. Still have $70 as a target for the bounce, maybe a gap fill.
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Thought about dumping this today, but if job numbers are good tomorrow then industrials will probably rally Monday and tech will be weak. Just gonna hold everything (PCAR/SPY/QQQ) and figure it out Monday, lol.
Trade closed manually
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Dumped everything when I broke even between all my positions, PCAR looks like it's gonna repeat that double gap, so gonna be patient.
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Gap filled, kicking myself for not holding, lol.
Next time I'll have more confidence. The dead CAT did bounce after all. CAT calls would have been rather profitable this week.
(I think that's enough CAT puns for a day, meow.)
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Looks kinda bearish this afternoon, if we see a dip tomorrow morning, I'm buying. Class 8 sales are up this year:
I'm holding for at least a gap, but may not play anyway. I put money into the SPY and QQQ today already.
hungry_hippo
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@BoomerMo, yeah, safest bet is SPY. Chart pattern looks similar to last August. We should see at least the gap fill which is only like 50pts. I had to play PCAR because I always do, lol.
Didn't get into QQQ yet. Left room to add tomorrow just in case...
BoomerMo
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@hungry_hippo, I did read what you had to say earlier, and I see your point about adding on a gap-down. I just felt that with ES already beginning to bounce, and DXY back-testing its resistance zone (with a head-and-shoulders on the 3-hour), I just felt this afternoon was a good time to get in for me. There could be a gap-down, but if there is, maybe I put a bit into PCAR or maybe more QQQ if the banks reporting in the morning show good news. I think your comment about yields stabilizing is spot on too.
TORNADOF5
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hey ,any idea about this c3 ai crazy stock mover ?
hungry_hippo
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@TORNADOF5, high short ratio and below IPO price. I don;t see anything all that great about their financials, but you're gonna see more of these short squeeze spikes. No idea if it actually gains any traction off the short squeeze.
TORNADOF5
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@hungry_hippo, yes it seems only day trade , im not that good day trade =/ 23.12 seems bull entry not sure one what time frame to try long it xD
BoomerMo
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Sorry you missed out, Hippo. I just put a relatively tight trailing stop-loss on my PCAR. I am mostly still in the trade because the city cut my Internet line while working near my house yesterday. I gave in and just entered the 21st century of investing by executed my first order over my phone (the stop loss). I may just close the trade EOD to be safe.
hungry_hippo
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@BoomerMo, no worries, glad you made money this time. Not sure what I was thinking yesterday, lol. No guarantees past the gap fill.
hungry_hippo
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@BoomerMo, watch out for PPI and unemployment claims Thu premarket. Probably best to close out tomorrow. I think it'll be a small cap pump and dump on CPI.
BoomerMo
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@hungry_hippo, thanks for the advice, man. Actually, the latest drop triggered my trailing stop-loss. That works for me. Now I just have to watch my SPY trade tomorrow AM.