CLSK is oversold again
Updated
I'm not a fan of trading this close to earnings reports, so I'm not jumping on this one. Too much negative volatility is possible and when you build positions the way I do as the price drops, a negative earnings report can wipe out months of profits instantly.
That said, the indicator is undefeated in spite of previous earnings reports over the last 12 months so it is tempting. It's very possible a trade could close before earnings, too - the last one was only held for a few days before meeting the exit criteria. But if it slides all the way to earnings time, that's a big bag of stock you're holding when that report drops.
But alas, not being a Bitcoin bro myself and liking to sleep soundly at night, I'm just not brave enough to bite here. I will keep you posted as to how the trade would have worked out though.
Remember: this is NOT investment advice. Sometimes it's a play by play of my trading and sometimes, like now, just entertainment. Be careful out there!
That said, the indicator is undefeated in spite of previous earnings reports over the last 12 months so it is tempting. It's very possible a trade could close before earnings, too - the last one was only held for a few days before meeting the exit criteria. But if it slides all the way to earnings time, that's a big bag of stock you're holding when that report drops.
But alas, not being a Bitcoin bro myself and liking to sleep soundly at night, I'm just not brave enough to bite here. I will keep you posted as to how the trade would have worked out though.
Remember: this is NOT investment advice. Sometimes it's a play by play of my trading and sometimes, like now, just entertainment. Be careful out there!
Note
If anyone took this trade, if it were me I'd sell at the close if it holds these levels (17.28 as I write this). It's overbought now and up almost 14% in the 3 trading days since the close on July 10 when I said it was oversold. Pigs get fat, hogs get slaughtered...and nobody ever went broke taking a 14% 3 day profit. Have a nice day!Note
+20.5% in 3 trading days. It's always the trades I don't take...Note
Trade results summary (for my records)
Wins 1 Losses 0
+20.5% in 3 days
Avg gain = +20.5%
Avg hold = 3 days
Annualized gain = +1722%
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