No compelling reason for this POS to be trading at 50+ forward P/E. About to hit the bull flag target, this usually throws an exhaustion gap before a reversal.
I'm gonna wait until tomorrow, but this may be a good entry for some puts. UAA puts have very good liquidity, I've day traded it before. The spread between bid and ask is small for a $10B company.
It's also approaching overbought territory with MFI divergence.
I'm gonna wait until tomorrow, but this may be a good entry for some puts. UAA puts have very good liquidity, I've day traded it before. The spread between bid and ask is small for a $10B company.
It's also approaching overbought territory with MFI divergence.
Trade active:
Rolled into some next week 26 puts as a starter trade this morning when it hit the bull flag target
Comment:
Looking more like a bull flag or wave 4 than a reversal. Holding the puts but I think the top may come Monday based on chart pattern. Keeping the position small for now.
Trade active:
Looks weak considering huge up day. Adding some more here.
Comment:
Added puts this morning, appears to be a reversal pattern at this point. At this point, you may want to wait until close, but I'm pretty sure this is headed down tomorrow and/or Wed.
Trade closed: stop reached:
Obviously got burned on this one, lost some of my profits this week. It appears to be headed for a gap fill at $29, it's going into full Chipotle (CMG) mode. Will keep it on the radar, but not sure if I'm going to trade it again.
It was a good stock to trade when it was range bound, oh well.
It was a good stock to trade when it was range bound, oh well.
Trade active:
Flipped my NKE puts and rolled into this POS again yesterday. Added this morning.
Should be a good one day flip as long as the market doesn't gap up 30 pts again, lol. We'll see tomorrow.
Should be a good one day flip as long as the market doesn't gap up 30 pts again, lol. We'll see tomorrow.
Trade closed manually:
Looks like it's not going anywhere today. Flipped the puts and recouped my losses from last week.
Trade active:
Decided to roll into next week's puts since the market rolled over. Bare minimum it'll close the gap to $26.
Comment:
Target is $26 gap fill, you're on you're own if you want to go past that. Maybe cash out half and play with profits only.
Trade closed manually:
Looks like the drop is done, not going down even though the market is weak. Probably get a bounce here.
Not a big deal, stayed in it longer than expected, this one saved my butt last week. Gotta love it when it goes down in an up market.
Not a big deal, stayed in it longer than expected, this one saved my butt last week. Gotta love it when it goes down in an up market.