Been busy so quick update, I took a small position long.
Long is the path of least resistance.
Resist the panic, resist the fear and embrace the bounce.
Bouncing from one idea to the next will get you rekt in the long run.
Running away from your postions due to fear allow whales and professionals to step in and step up.
Up your game, become a Ninja.
Are you...
We had a strong move on friday out of the channel as expected.
Now expect a retracement over the next few weeks down to strong demand below around $65.
We most likely will create a giant weekly M pattern before breaking out strongly to the upside. This pattern is going to take a long long time to play out so set your alerts at $15 and forget about it.
In the mean time there will be bounces and drops for short term weekly option trades.
I'm predicting a short on Apple this week. Put's slightly OTM will give 500% return. I will wait until the open tommorow to read price action and if everything follows our plan I will jump in.
I plan to hold until Wednesday morning.
If you short the bounces this week with this week and next week expiration down to the 3880 level then the returns are in the 1000's%.
I've been calling the top the past 2 weeks, I was a little early but I was waiting for price to turn and start bouncing. That appears to be happening right now which also seems to coincide with the bitcoin crash I am predicting....
So we hit the 380 target and now we are bouncing, this should be a very strong move higher potentially breaking the 392 level by (wed, march 3rd).
I didn't take the long because option prices were so expensive.
There may be a short next (wed, thurs, fri) when option prices are cheaper and reward to risk increases.
