$CZR will it break past the $18 and retouch for $19 with the falling markets. will czr fade, or will it hold the 10dma. (which btw, isnt too significant, but is a worthy note).
$MNKD - look at the giant falling knife. monday stock gaps open 6% up, for the next 1.5 hr of trading, stays near that level. up and down, up and down, only to retrace back to it. what are your thoughts?
i’ll be honest. wasn’t expecting the small gap down on most market sectors today. opening with some loss, gotta deal with it. part of the job.
playing catch up - bought some $czr at 17.60 (small for cash flow trade only aka day trade shares ONLY). also adding to position for swing trade (long term hold of 3-4 weeks). reason - if this really dips to 17.40 its the 61% fib move of the ingiting bar from $16.20 to 19.11. if this reverses and blows past $18 and back to the $18.40-18.80 zone, then is a super reversal bar signaling bullish strength.
$DAL - pretty big knife from 2 days ago. there might be some scalp / bounce trade set up here. however i’m waiting for this to act a bit better and scalp for the $19.60 mda.
gotta risk to gain.
waiting for $CZR to hit $19 and see if it retests ATH (yesterday’s high). if it breaks that, might add some to size (1/3 for a day trade only - for cash flow). as long as it doesnt break down and reverse, i dont mind it consolidating at these levels for another leg upwards.
there’s always a stock that gets you, no matter how hard you try, and that’s groupon for me. no matter what time frame or reason, i still end up losing money with or against it. with that said, it is one hell of a stock atm.
let’s look on a macro scale and go back to 2011 at the opening ipo price of $30ish. even though the harsh downtrend has been broke and a small and gradual uptrend is now in place (with even a macro 10ma at the monthly chart), we still have yet to breach the 60% fib @ $15. but you could say, hey, $15? that’s another 40% up move and by then we might have missed all that. that is true. so what do we do? from a macro stand point, you could possibly trade it to that and sell before it retraces.
option 2 - day trade the shit out of it. if you must buy or want to, a good price to pick up is at 10.80. i’d say you’d have a 50/50 shot at it retesting $11.25. that’s a good profit if you manage to pull it off in a day. with today (friday’s) bar slipping past to $10.25 and retracing back, there is some commitment to this move (esp since its a friday). we’ll have to see what monday brings. without seeing mondays market, i would be against buying this. we are far too outside the normal deviation and need to get closer back to the avgs, or consolidate and let the avgs catch up. otherwise you’re just another avg joe chasing gap ups and might be caught holding the bag.
** i dont trade grpn - ever again. lost too much on it.its my rule, the only stock i dont trade.
Been busy. Still am. Quick update - $CZR might be breaking out and retesting the 1/2 year high. Let’s see if we can hit $18 or not.
never mind $18, let’s see $19