Let's Go Camping and Do the Party!COVID Part Deux season is upon us.
People still want to travel. Will airlines and cruises come back in to favor this time or will they still face headwinds through this season until next summer? TSA data suggests some decent increase in traffic, but still a bit meh. Completely expected. Seems difficult to really know sentiment in the short term as some indications of lockdown are reemerging, but along with that is some rejection of the population who are tired of the continued pressure from above.
So what to do?
Do you like the outdoors? I do! What’s not to like? It’s a cheap way to vacation, it keeps you away from those scary people who might have a virus. Hell, you can sit around the campfire with them enjoy the company, from a distance. Then talk smack about them later probably having the virus from the comfort of your own camper.
Look at the RV explosion that happened post 9/11 when everyone was afraid of flying.
Repeat performance? I think so!
Check into the company. Talk about strength in concept and numbers! Do your homework.
Swing Trade Idea:
Entry 29.50
S/L 27.85
3/1 Risk/Reward = 34.45
Higher Risk/Reward would be a scale in entry (my preference) at current market 30.16 ah traded price, 29.82, 29.50
T1 – 36.54
T2 – 41.46
T3 – 47.25 (0.618 fib ext based on COVID low and bull flag high/low)
Longer-term targets based on pitchfork and fib ext listed below.
*** Yellow paths are artists conception.
If this thesis and path plays out the rejection from 22.60 (200ma) on 11/09/20 may have been the bottom of the cup for a future Cup and Handle and/or the head of a large Inverse Head and Shoulders. Either way, in that case, the 0.618 fib target is just the beginning. Following the pitchfork out we could possibly see 73.08 (1.272 fib ext) or even 86.74 (1.618 fib ext) trade in the future.
This one is a longer term swing for me.
