Updated

PTON Pennant Revision

I think this pennant is setting up for earnings and Fed meeting next week.

Market has a $2 move priced in, but I think it'll move $3, and hit resistance or support. Expecting this to whipsaw around $11 until then, so no position.

Quite frankly, I'm bearish on earnings, but shorts tend to cover on bad news so we could see one of those stupid deals where it initially gaps down then goes parabolic, lol.

Note

As I stated on my NQ1! post, I think the market pumps bad unemployment numbers tomorrow then CPE Friday. It;s possible PTON can hit $13 by Friday afternoon or Monday.

Not playing it though. If they squeeze teh shorts it makes for a better earnings play.

Note

Even garbage floats on a rising tide.

Earnings next week, not playing it. Maybe they'll do some stupid rumor like a buyout or something again, lol. Earnings WILL SUCK though, guarantee it.

Note

There's your $13 by Monday like I called it last week. Maybe I should buy calls next time, lol.

getting really good at plotting this garbage.

Trade closed: target reached

There's your "not as bad as expected" earnings, lol. Already past the Dec peak premarket, appears it'll more or less hit my target today.

I didn't trade this garbage but marking it closed because my chart played out, so don't expect an update.

Note

Oh look, it hit the next resistance line, lol. Probably a dip here before the next pump. Remember my 3 or 4 day short squeeze rule

hungry_hippo

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hungry_hippo