Antares Nebula
Active Member
Lot of speculation regarding the morning spike. Was surprised as everybody else. In fact, thought for sure that it would go down due to the delay of the report, so I sold some shares at 288, but ended up buying them back at 292. Ouch! I still think there is a good chance that it'll go back down, but didn't want to risk it (it's part of my core position, which I rarely trade).
It certainly could have gone up for many of the reasons speculated here, but I'll just point out that it went up right to the top descending line of the monster falling wedge pattern. Any further and it would have broken out from that wedge, which I guess it was not quite ready to do. Sometimes, stocks move purely on technical reasons, which may have been the case today.
Still, with 2 big fundamental news imminent, the stock can certainly break out of that wedge this week. But lacking any signif positive news, I think we fall back into (or stay in) the wedge pattern and fill some of those daily gaps before finally breaking out later this month.
Either way, I have some weekly 310 calls and 260 puts for a spec play.
It certainly could have gone up for many of the reasons speculated here, but I'll just point out that it went up right to the top descending line of the monster falling wedge pattern. Any further and it would have broken out from that wedge, which I guess it was not quite ready to do. Sometimes, stocks move purely on technical reasons, which may have been the case today.
Still, with 2 big fundamental news imminent, the stock can certainly break out of that wedge this week. But lacking any signif positive news, I think we fall back into (or stay in) the wedge pattern and fill some of those daily gaps before finally breaking out later this month.
Either way, I have some weekly 310 calls and 260 puts for a spec play.
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