Saturday, April 1, 2017

Apr 1 - SNAP consolidation - breakout coming?

Sitting on pile of Apr21 25.5 calls @.55

All 3 scenarios I have are bullish.  Not discounting a flush out to shake out more bulls Mon/Tues.  I doubt we will start a sustained move down because of the weak selling the last few days and the demand of buyers looking to get in at the IPO level of 17-18.

The daily chart.  If this is just consolidation, the first big bar up should come with a volume pop like on Mar 22.

scenario 1.  this scenario suggest slow melt up starting Mon

 scenario 2.  Bulls get shaken out to empty the bus for a sharp ramp higher.
 scenario 3.  one more day of chop and continuation of the move

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Aug 25 - Re-entered (again) GLD short, long LVS, AMZN, NFLX, SHAK

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