Day traders selling out after a bounce back from a near 52 week low RSI. TVIX still remains green on the day with decent volume. Should see a move soon.
Note: I am aware that the vast, vast majority of people that trade this are day traders and scalpers. Personally, I'm looking for couple day bounce of 50-100% (see October '18)
Note 2: If such a bounce does...
Price range has had very low movement for weeks. Goldman itself has the equivalent value of trash right now but has refused to move down. Only a matter of time. Finally gave in and got it short. I can wait.
SNAP is rising on buy ratings from multiple popular analysts. The company is in huge debt, has never made a profit, and has no profits in sight. Love the app, but the stock is wildly overvalued at a 25B market cap. Watch for a pullback. It will be hard and fast.
Up 4% after hours already. Possibly double digit percentage gains within 30 minutes of market open. Highly volatile position. Hits a hard bottom and shoots up. Then comes right back down again. I've got it long with 30% of my portfolio. Sell point: 7.3; sell stop placed if breaks 52w low resistance