Oversold and hit the trendline, so probably a weak bounce here. Terrible inflation news so I'm not even gonna try to fade the gap.
I bought some COIN puts on the morning gap fade attempt since I think cryptos are gonna tank over the weekend, but then again I say that every Friday, lol.
Not gonna chase anything else with puts since NQ and ES are oversold.
I bought some COIN puts on the morning gap fade attempt since I think cryptos are gonna tank over the weekend, but then again I say that every Friday, lol.
Not gonna chase anything else with puts since NQ and ES are oversold.
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Note I said rarely, all bets are off if cryptos tank over the weekend.
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Wow, look at my garbage stock board today:
DOCU, SFIX, NET, DOMO, COUP, COIN, ROKU, RBLX, DDOG, FSLY, PD (LOL), LPSN, NLS, W SQ, ARKK, AFRM, WK, OKTA, SNAP, PTON, UPST
All down over 5%
So is QS, I think that's a great long term play when it hits single digits
DOCU, SFIX, NET, DOMO, COUP, COIN, ROKU, RBLX, DDOG, FSLY, PD (LOL), LPSN, NLS, W SQ, ARKK, AFRM, WK, OKTA, SNAP, PTON, UPST
All down over 5%
So is QS, I think that's a great long term play when it hits single digits
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Today is a good day to look for garbage stocks, anything down over 5% is garbage. I will do more research over the weekend to expand my list but I'd appreciate it if you guys could share your list.
Anything under $10 is hard to play with options, and I very rarely touch anything under $5
Anything under $10 is hard to play with options, and I very rarely touch anything under $5
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Also, I do not expect a big gap down Monday unless cryptos tank. Even then the market will probably reverse itself and fill the gap if it happens.
The most likely scenario is a bounce.
The most likely scenario is a bounce.
It does look like it's hit bottom, and SPX very rarely gaps down 2 days in a row without filling the gap, so still expecting a weak bounce. Not worth the risk to play it.