Angello B
804 posts
The psychology of the trade specifically yesterday (Sentiment, panic, market participant behavior)
The trade below $200 through $190 got participants worried yesterday. Its always the same reaction. A big round number comes into play but the general participant never looks to the left of the chart.
Look Left Plan Right!
Those same traders that were worried about the $200 and $190 level break were probably only focused on levels to the downside yesterday, 180s, 170s, 160s, buying puts at a rapid pace with last weeks paycheck.
The thing is though they never once took into consideration that at had fallen 30% in 6 trading days. and just 3 weeks prior it was 50% higher at the $300 level.
Stocks don't simply go straight up or straight down.
The same behavior repeats itself across the market every single day, of every month of every year and the general retail trader ALWAYS reacts the same.
If 95% of traders supposedly fail figure out EXACTLY how they think and start inversing it.
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@traderz @Bigcat5tim And 410! Absolute legend, you think short term relief bounce or we could be setting up for some swing trades?
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@StonksJacob That 15 seems to be a strong support... expecting further dips? $Unh also up helping it
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@StonksJacob Nice, I mainly do stocks and looking more for a longer term play... can see the resistance at 18 but then again some gap fill above
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@AngeloR30700761 Well, if I was holding 5/18 $15 calls 😉, I’d probably trim them at $15.50 -15.60 and leave runners for $16+.
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@BankofVol Thank you, am I reading it this correctly 70% chance upside and 30% downside... unless you put cash alert in front of it?
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Rn Senior 🤖 expecting, all else equal, 70/30 by the close, junior 🤖 expecting 60/40 by the close, let’s see if they stick.
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Adding to this from last night. This looks VERY toppy however I would say that if you happened to start a position short in the $960s, use $970 as your stop and make sure you cover if this thing is not red by close. The ONLY way I would swing a short on $NVDA is if we close red today. As of right now, I am just watching it. It easily could go back to highs and make new ones. I am not sold the "run" is over just yet.
Thrack@Thrackx
I may be a day early posting this but given the after hours move and soon to be gap up on $NVDA, I felt the need to post my thoughts. Either tomorrow or Monday it should be gunning for the $1000 level. Which imo will also be at least a temporary top for it. Weather it completely unwinds or gathers itself and makes new highs, I am not sure but I can tell you, it will struggle at the $1000. Key is to try to be patient and not to get short too early as you will get burned. There is 100% a short opportunity coming in this name as much as I hate to say that. Look for intra day topping patterns and failures at key levels. I'll post more on it tomorrow if we get near the level. Also as mentioned in my note on the chart, chances are this is not a $10-$20 move but more of a $50-$100 unwind (possibly over multiple days). A lot of people will be taking profits when it can't break through and fails at $1000.
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@_____Tasia_____ Sure was a great shoutout, did not short it as too wild of a stock for me... are you watching lower end target for a potential buy/swing?
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$TSLA 212 is history. Sub-211 now. I tried to warn you. As a reminder, you don't need to make it back where you lost it. Gosh, please have discipline. Don't let all of your gains evaporate. You can always get back in if/when technicals and fundamentals turn positive.
Anastasia@_____Tasia_____
@bekind20214 Many $TSLA bulls got excited about yesterday's move. imo, it was another bull trap. Of note is that yesterday was another lower high and lower low (albeit pennies). 212 is now in jeopardy.
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