*** I know it's so tempting to jump on option calls for PYPL/UIPST/BIDU/ROKU and many many other huge dips that are 100% undervalued. BE PATIENT. These are selling off so fast and hard when you time this bottom correctly trust me they will blow up for at least 100% in options. Don't assume just because they are undervalued and dipped that SPY cant take a nose dive here to 450-440 and take them further down. Be patient.. WATCH THE MARKET FIRST. Don't get faked out on a tiny bull run for one day that turns up being a huge negative move.
All,
I think we are reaching once again that retest area. There are two arguments here. One that both of these resistance lines have been tested way over 4 times. So in theory eventually dip after drip these break resulting in a breakout and usually a good one. However, for obvious reasons we have pre pandemic, possibly a new one especially in EU right now, already over saturated market, FED news. etc etc I mean negative list goes on. So once again here we are restesting a previous failure. the previous small dip was the first support break and now coming all the way back up retesting it some more.
Given holidays, world news I am not necessarily bearish yet. I am actually wanting a huge bull move again because there are so many dipped stocks.
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Sorry for whatever reason when you publish these circles move, but if you look closely yellow ones are huge downside moves when failed. Orange is second layer underneath.
It's tempting to jump into calls? Were you drunk when you wrote this? Please tell me you were or high on those drugs you seem to be doing.
DigitalData
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@mattyzzzmom, if you don't think PYPL call options are tempting idk what to tell ya buddy
buttheads
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@DigitalData, That is CJS04 on a different account, the poor kid wants attention. I dont think his parents cared too much about him. LMAO
MMinutes
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This will be down to 440 by next opex so I would start opening puts sometime toward the end of this week
DigitalData
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@UncleJaba, Not really trading SPY just watching SPY to make money on calls for dips but yeah 440 isnt unrealistic, but just because Morgan Stanley said that, typically these don't happen instantly it drops hard then retraces back up etc etc. Hard to time it, but yeah I dont disagree 450-453 I can see bouncing.
CJS04
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Undervalued. Haha. Tell mom and dad they raised a pretty clueless kid.