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Spike

PM 50%This week I've been watching my scans for signals that fit my strategy. I have not yet seen potential trades that fit my strategy; bullish nor bearish. Today I got two signals that fit my criteria on NYSE:PM and NASDAQ:LRCX ; shorts. PM is looking to hold a 50% level. LRCX is setting up a potential double top. I'm not yet sure of the market sentiment coming into this year. Shorts in a bull market are obviously a low probability. These two are going to serve as test cases to watch from the sidelines. Depending on if they work or not I will have my first clue of 2021.
NYSE:PMShort
by norok
BABA Spike: Dead Cat Bounce?I've been watching NYSE:BABA over the past week as much hype has surrounded its recent fall. There has been a lot of bragging about profits made on the dip buy and if you've read my posts for long enough you know my cardinal rule, especially when it comes to options, is "if you're bragging, you should be taking profits!" I'm not one to jump in just to be contrary but the stock price did exhibit a bearish spike at a major resistance this morning. This sets up a play back down to retest the recent low. I did not like the Single options as they are volatility elevated so I went with a Vertical Put spread to express the trade.
NYSE:BABAShort
by norok
2
My NIO shortLast week on November 23rd I took a short trade on NYSE:NIO . I also talked about the trade and the additional confirmation of what was going on in the EV sector in the video linked below. I wanted to have this trade marked for posterity as it was just a great example of the same strategy I use on all instruments and all timeframes. It's very simple... Break of Support/Resistance Pullback to confirm that Support/Resistance for entry A target that can gives 3-to-1 Reward/Risk This is the recipe I have used all year playing stocks and making consistent gains. It makes me respect Support and Resistance and stay PATIENT for setups rather than jumping in.
NYSE:NIOShort
by norok
4
Why I called the top of cryptoToday as the volatility calms down on the recent failure to reach the All Time High on BITFINEX:BTCUSD I take a victory lap to share WHY I called it as I did. It's not an exercise in ego or ask for people to follow me. In fact, don't listen to me and don't follow my trades... do your own analysis. What I want is for people to learn from my experience as I share it. I look for short term instances of volatility as signals. I do NOT do price forecasts any more in my career. They never seemed to give me an edge. Cryptocurrencies discussed were the ones I posted about before their moves in Bitcoin, BITFINEX:LTCUSD , and BITFINEX:XRPUSD .
BITFINEX:BTCUSD
by norok
3