This is simply not true.
Fundamental catalysts matter.
Your analysis only focuses on what price has done. The market has changed buddy.
The news that came out for the breakout seen on Mar 1st was that this SPAC was merging with Rocket Lab. Q's were going down prior to the breakout seen on screen, which is why the pre-announcement price was moving down. Had there been no news, the stock would have continued going lower. Money was leaving the SPAC market at this time as well due to SEC concerns about the SPAC market.
Yes, recently Rocket Lab had a failed launch which resulted in a recent test of the 9.70's area, and news came out that Scion (Michael Burry's fund) purchased a ~1.5% stake in this SPAC.
SPACs have been having a very hard time lately and unless there's a change in the outlook on SPACs, you're not going to see the type of move you're speaking of.
Look at SPFR. Cathie Wood purchased it and it is trading below $10 as well.
iCantw84it
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@TheBlendedTrader, I dunno what you are ranting about....I dont even know what I said in the video but Just because it doesnt fall into your false sense of reality doesnt mean it doesnt work. And if you think just because you tell me it doesnt work is going to prevent me from telling people what my thoughts are or stop trading all together.... you are sadly mistaken. As I actually live off these Dumb market analysis that I am making and am actually watching my account grow everyday. So much so its laughable as to why you think you need to educate me on what I see in the market.....its more than likely you can't see it. And thats ok not everyone gets hit over the head and is able to see things in the market that doesnt make sense to other people. but again my account says otherwise. So unless you want to supplement me with the equivalent of what I am making per month in my account every month for the rest of my life.... i would suggest keeping your very narrow look at the market to yourself. Thanks though. Please like and subscribe.
TheBlendedTrader
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@iCantw84it, We all have our own ways of making money in the markets. I made the mistake of assessing your analysis through my lens. It's not about who's right or wrong, all that matters is the P&L at the end of the month. Glad your strategy pays the bills, so does mine. I apologize for having chimed in when I should not have, no offence was intended.
iCantw84it
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@TheBlendedTrader, Thank you i dont understand why people feel the need to claim their way is the only way....Heres is how I see it. There are 100s if not 1000s of institutional traders out there using algos all different. Depending on which stock you are on you will find a culmination of trading that is of several different algos all triggering each other creating some unique set of moves all repeating themselves over and over. If I find a stock that respects my trend lines I trade it. if it doesnt I move on to the other 10 that do.
That said i really did hope that you would reply back in a more approachable way as I don't want people to think I am against learning or saying I am wrong when I am wrong. I am not like everyone else i have acquired savant syndrome. Its going to be less than likely anyone sees it the way I do unless I explain it. thats why I explain it.
The best part, we are both making money in the market which is better than more than 95% of all traders. I take that as a win. Thanks again.
iCantw84it
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That said this stock went sideways.....so my analysis is neither right or wrong still as I cant control time.....and honestly there isnt much data there to go off of on a Daily. @TheBlendedTrader,
SavvyMoneyShow
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Thanks scot your the man
iCantw84it
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@SavvyMoneyShow, Anytime for you big guy. Got any juicy juice for me this week?