WHY AM I BULLSIH!?
SHOP has me bullish. Reason being we are at a really strong support. I loaded up some calls during the day on Friday. This also aligns with some bullishness on SPY which I'm sure many will disagree with. Spy is not only longer term divergent but is selling off, in my opinion, wayyy too hard. But that's a whole other post. SHOP has been being bought up at these levels. Not dropping nearly as hard as the market. It's been getting some pretty meaningful upgrades during a complete selloff of the market in general. My stop would be somewhere below the $119 level. I'm making a wild guess that SPY has a sympathy run tomorrow then we are back to turmoil before we break the New Year. Happy Holidays everyone!
Note
STILL BULLISH... We did it! $130 reached today! I'd like to see another small dip before going long again. Typically I play options for 3-5 days and I'm out depending on the setup. Let's see if we can get to $138 soon! Cheers!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.