This is an ongoing theme that has been in play since the beginning of November and that is to focus on the LONG side of the market and double greens. This applies intraday, end-of-day, and will continue to do so as long as the daily time frames has bullish structure.
There is a great cluster of support on SPCE for a buy setup. Please be sure to wait for triggers.
Not a dull week at all, pretty wild swings in TSLA and the Nasdaq in general. I’m eyeballing NFLX for a continuation, and keeping my eye on high short interest names that have hourly and complimentary daily squeezes on Squeeze Pro.
“To hedge or not to hedge, that IS the question”… right?
Well, if you look at the $PCALL and the $SKEW, today or early next week is a good time to go ahead and throw on some hedges, acting as insurance for a potential major pullback. I’d like to sell a deep in-the-money put credit spread on NFLX, as it’s really close to most recent highs and it’s not afraid to push into $600, so a cheap and defined risk trade I would entertain is a deep in-the-money put credit spread for a week or two out, just in case that happens. Remember, MRNA, W, CVNA, have decent short interest and so I still side to the long side based on those charts. Let’s come back Monday refreshed, and see how we open up!
One of the best things we can do as traders and is to see what market types we did best within. With a cool tool I make available to members, you can see how easy and eye opening this can be.
Which do you prefer, hot wings or hot video cards? We’ve got some great picks tonight in both, and a data monitoring service to round out the trio.
