Trump wins? $DJT to fall into election, then rally after?
Updated
I've been watching the DJT chart for a while now. I originally took a trade at $17 with intention to hold, but got scared out of the position on the loss of $16. It ended up bottoming at $13. Since then, it's gone 3x with people anticipating a Trump win.
We've corrected in the last few days and the chart looks like it wants to see more downside into the $27-20 levels. That's where I'll start scaling into positions in both spot and calls.
To me, that looks like a great buying opportunity. On higher timeframes, it looks like the stock is getting ready for a large move above $100 post election.
Let's see how it plays out over the next week.
We've corrected in the last few days and the chart looks like it wants to see more downside into the $27-20 levels. That's where I'll start scaling into positions in both spot and calls.
To me, that looks like a great buying opportunity. On higher timeframes, it looks like the stock is getting ready for a large move above $100 post election.
Let's see how it plays out over the next week.
Note
Didn't get the best entry, but got in at open this morning. 1/4 of a full position. Will keep this sizing unless we see a retrace.Note
Brought to 2/4 of a positionNote
Added full position here Trade active
Bought 5 32.50C for 11/15 for $2.13Note
Got a text from my friend that DJT was down 20% this morning. When I looked price fell right into the initial support I had on the chart. Dips are for buying. Not even scared one bit.Note
added 25 50C for 11/15 too at $.42Note
Note there is still the possibility of price going to my lower targets.$21 and @$25.6 so those would be the next two buy levels. Also, I took very short dated options which is high risk, I'm not recommending them. Longer expirations would be better. Just sharing my positions.Note
Ended up getting the bounce. Now up 60% and 70% so far.
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