^ Sure looks like a nice re-accumulation. I think you might be too conservative on your count. I agree with your spot for the LPS but I'd probably count back to the BC giving a count of 24 so that the target would become 60 + (24 x 1 x 3) = $132. Nice. Weekly bars:
@Onepoint272 Was mocking up my charts for $GNTX - would you use the SC in Feb 2018 or Oct 2018 to start a PnF count?
$DFS Big beat on Q2 earnings this past week - $2.32 EPS and $3.5 billion in revenues vs. expected $2.11 EPS and $2.8 billion in revenues PnF measurement = 75 + (19 x 1 x 3) = $132 Based on that widespread candle from this past week it would be best to wait on a pullback for entry
Hmmm, that's been in a long term uptrend, but I guess it could and looks like it wants to go higher on a steeper trajectory. I guess I'd label it something like what I've shown below or yeah you could say that the Oct 2018 low was an SC. Weekly: Alternate labeling on Weekly:
Doesn't really worry me, this chart has two years of accumulation and a creek jump with significant volume. I've got the trigger loaded and my bailout strategy ready too. The only thing earnings does is speed up the price discovery process in my opinion.
JAN 15 2021 call spread: 535 days till expiration $17/$20 in .37 two contracts Max profit = $600 Max loss = $74 Put in a GTC order for $2.25
I bought 500 shares of SPWR near the close at 10.78. Up after hours to 11.34. We'll see how it trades in the real market. Oldie, what do expect the underlying price needs to be for you to get filled at 2.25?
Probably around $15 if it gets there pretty quickly. If it takes its time, the closer to $17. I have plenty of time though.
This should help solar and SPWR California became the first state in the country Wednesday to require that new homes have solar panels on their roofs. The mandate, which takes effect in 2020, won unanimous approval of the California Energy Commission.
Man this is not gonna be easy sitting thru this post-earnings dip on SBUX, but I promised myself I would hold out for the long term PnF target.
Btw, I really want in on the SPWR fun - but man I'm having a tough time pulling the trigger here after 7 straight green candles on the monthly chart. I'm wondering how much of the new California solar panel news is already priced into the move up off the bottom at $5. Would definitely prefer a consolidation. Most active price on the day is $11.43 - if that doesn't shift up it looks like they're letting people late to the party run with the ball, but without support underneath it.
Adding in $FMC. PnF measurement = 70 + (27 x 1 x 3) = $151 Current Price $86.96 Will add the chart a little later Beat on Q2 Earnings: https://www.earningswhispers.com/epsdetails/fmc
I hear you....I was up $20 this morning, now around $42. Thinking of taking one off, and letting the other ride. edit: Sold one @ $43
Win-Win for you that's for sure. I do really like this setup long-term - I'm just extremely OCD about entry and trying to be vigilant about buying dips not rips. That is some MAJOR news and what do we know about news? It often provides liquidity for some short term profit taking by the guys who were in a lot earlier than the public. Wouldn't shock me if I'm just hating myself later though. LOL
I fucked up and hit "market"...I should have hit "limit" and made more. Ugh. Only $37 left in the trade so wtf....let it ride. Changed my GTC order to $2.50. Over 500 days till expy. Yep, I hate trading earnings, but in this case I am super long term.
I'm getting more comfortable with holding thru earnings now, but there are two different situations - A: Earnings are priced in and the stock is ready to mark up (your prototypical Wyckoff setup) or B: the stock had already been marking up and the earnings provide the CM the liquidity to start locking in some profit. I'm dealing with the latter right now in my SBUX position. I mean did you see those same-store comps for SBUX in Q2? My word! @Onepoint272 has really helped me conceptualize the mechanics of these moves and what is really going on behind them - so I'm willing to be a bit more patient than in the past.
Here you go @OldFart .... A spring off the lower 2nd standard deviation and reversion back to July's POC to close out the month. Obviously there were some sellers today, especially given this reaction off the fed quarter rate cut. Overall monthly profile is still strong. EDIT: It's building support along $12.00 and at this rate that POC on the date should shift upward lending more credence to today's move.
