The next FIB resistance is 76.4% if this rally continues toward ATH

I’m also short QQQ. I jumped in when the sell signal was triggered last week. I’m wishing I just stayed in cash. The TA is basically neutral right now?

Here it is again

https://discord.gg/ZfS5fT

G-trader might be coming back to say that he was caught off guard with his TSLA calls. :-)

Sorry I meant PCC (Put/Call ratio):
https://www.tradingview.com/symbols/USI-PCC/

You right but that meme was funny. Holla at me in here too

https://discord.gg/VGDnbK

@g-trader , as mentioned before, I’m both a bull and bear, dont care about which way the market goes, but dont post this kind of sh*t in this community. I too have calls on some positions and have puts on others but you have to be cognizant enough that there could be a younger investor out there losing his/her account and these posts dont help their situation mentally. We’ve all been there and what you should do is use this time to mentor people instead of mock people. When others go low, you go high. Have thick skin, be a better person, and focus on bringing value to others. I’m more than happy to learn from everyone and feel free to create a Discord account /page so that we can follow and toss ideas around. Here’s mine if you want to message and chat back and forth on option plays. Congrats on your positions but lets go high when others go low. https://discord.gg/3vzv8X

Please email me. I like your analysis and would love to continue trading with you @gmatache

I love it. I’m all in 100% bullish. It was obvious we were headed higher. I think folks here are still in denial.

Interesting your analysis you knew where this was going yet you held on? At times I do that. When I hold on to a losing position too long and start relying on hope that’s when I know it is bad. Good luck.

I am closing all my short positions Monday morning. I gave them room on Friday, hoping that I was wrong, but damn … I literally hate to be right. I was actually hoping to close them earlier, but last week all the moves down happened over night and by 9am the price was already back up :(

Oh I see.So despite all this you guys still remain bearish and are holding your short positions. I don’t get it guys. Why? It’s so obvious where we are headed next? WHy would you guys want to continue holding your short positions?

My own analysis. @G-Trader

Who’s this from? @gmatache

Sorry G-Trader, this market is resilient. There is nothing to stop it. Maybe it needs Covid-20 to stop it.

First target price: 2875. Second target price: 2940

Since 6pm EST tonight S&P has back tested the triangle pattern I described on Friday at 10am and now is moving up following the BULL trend started on March 23rd.
Assuming that the same direction and the angle of the short term trend is maintained, S&P should reach 2875 by no later than 7pm EST on Monday, at which point another MAJOR GAP UP is very likely – so it blows all the shorts out of the water in the after hours.
Alternatively, after hitting 2875 there could be a short bounce back to the downside, but I still favor a follow-up with a solid break above 2875.
This kind of a move would be destructive for shorts because the major resistance at 2875 would be conquered, the March 23 uptrend would be recovered and most of the shorts would probably have their stop loses hit on Monday night / Tuesday morning.

Good luck

@Lake4 What about it? Markets are green?

@g-trader , thanks for the feedback. I’m trying to gather more information, looking at technical, fundamental, etc. but cannot see them meeting revenues. SHOP though has become almost like TSLA in that its become a cult stock. After looking at top 100 ecommerce sites built on SHOP and seeing their page ranks go down 20-30%, I can only think that those sites revenues went down as well. Which means SHOP’s main source of income (merchant fees) ultimately went down as well. And thats not to say that people were even buying on those sites when they visited.

I dont know, my analysis is peanuts compared to the big boys analyst but doesnt make sense if they pop on earnings. Trade safe and I will continue to try to “justify” these price levels.

Is it because some states are opening up the economy too soon ?

Hey G-Trader, look at the length of that first 60-min red candle on all the futures.

@stockninja. I love SHOP. It will follow AMZN this week. I think AMZN will go to 2600 this week and SHOP over 700. Earnings next week will drive it higher prior to earnings target 750. Post earnings depends how high it moves before it reports. Good luck

Forgot to add, if anyone is doing research on $SHOP, would love to hear your insight to their upcoming earnings as I’ve doing my research and will be more than happy to share. @rsotc