RE:RE:RE:RE:RE:ShortsExactly. If she goes up I have everything else, which is a lot. If she goes down I have plenty of dry powder to reload some trader shares or another round of yolo Calls.
Only way I know to get the best of both worlds.
eom
momo
wideopenthrottl wrote: also down to core holding again...not gonna chase as it is nice to have dry powder for next week's opportunities...GLTA
CommonCentsforDollars wrote: My $20 yolo Calls sold while I was taking a cat nap. Sure appears they got the short seller militia out today. Been a good move over the last 5 days so fine with parting ways on the Yolo's.
This kind of volume shouldn't be pushing us down. Another game? Or an intraday consolidation which isn't always a bad thing. Just a little more consolidated than what I would like to see.
Holding all the rest of $hit LONG, leaps and shares.. no
traders left.
Keep in mind Memorial Day Holiday Monday in USA. Keep in mind deadsville volumes on TSX.
eom
momo
CommonCentsforDollars wrote: There is a resistance level at $16.85 USD Nasdaq chart set May 7th. Interesting it is being held that territory now. Hopefully we don't have ambulance chasers chomping at that level that were flushed out this morning.
End of day melt up or end of day melt down? Hard to say, I am 50/50 on that fence.. Overall I am really liking today's action.
eom
momo
CommonCentsforDollars wrote:
On the Nasdaq chart resistance level is that pesky $17.18 again. They let it go to $17.16 keeping it under the resistance level. Todays move was take the gap up open and re-load on the flush.
With gap up opens, all the swing traders that got in yesterday cash in on the open. With no news per say for the recent move, this was a predictable event.
Right now trading in yesterdays range. Not much has changed from yesterday besides how they popped it up right before at Close yesterday gives them that extra 20 cents of red they need to hold it here and get some hands to fold to cover. Right now their goal is keeping it held just under $16.50 to bridle back the positive sentiment that was rushing yesterday. For all those who sold around the $16.50-ish resistance yesterday are on sidelines. This is their zone to be able to cover without too much trader/long re-enter interruption.
Will have to see how she Close's today. Short sellers dont like to ever give up. The reality is there are 43.1 Million shares that are short and need to be covered. Need to keep Bull pressure on, which a large element of that is pressure of bears needing to cover.
eom
momo