BEST THING TO DO? PANIC HERE

FML.

Listen, the reason I posted that video yesterday is to discuss movement this week that would draw in both sides of the trade.

I said last Thursday night that the stock needed to close last week quietly to keep both longs and shorts engaged into the weekend. Check.

I said the stock “would rip to $24, 24.50, 25 range on Monday early, then fade sharply into mid week.” CHECK.

Stop and think why that detail was/is at all important and therein lies the answers to all your questions. It was so you late longs would shit yourself out of this trade for me.

The only thing I missed on this idea at all was how far it would pull back into weakness mid week. It’s trading fifty cents away from that price I called out. I’m sure in some troll-fuck way that makes this a bad call/trade/idea/whatever.

Chart looks as it should. Quiet today was the next best case scenario.

Moving forward, I will be charging babysitting rates.

The only thing that concerns me at all is the Angel of Death jinx that hit me on this last week. I won’t elaborate on this, but I am giving offerings to the Stock Gods for their grace on this one.

Here’s a snippet from last week’s After Hours with Option Addict discussion about the stock heading into this week.

Start this video at the 12:15 mark and run til 18:ish. This was recorded THURSDAY after the market close.

2017-03-23 14.37 After Hours with the Option Addict from Option Addict on Vimeo.

How’s that for a road map?

I almost impressed myself with myself.

$SNAP quiet period expired and like I’ve been saying…if you’re selling something, won’t you speak up and reiterate it’s worth buying?

MS – Overweight, $28 PT GS – Buy, $27 PT Citi – Buy, $27 PT RBC – Outperform, $31 PT Jefferies – Buy, $30 PT

In other news, OA Jr is all over the text today, telling me his whole account is green into an ugly market and can hardly bear it ($SHLD/$SNAP mostly).

I picked up $BOX calls…nothing else going on today.

I’m swiftly losing interest on doing much to alter what was a fantastic week. I have a few things I might take here today, but I already have my sights set on the weekend.

Congrats to those who took a leap into the unknown to participate in a flawless sentiment observation these last several trading days. The best part, it’s just getting started.

If you have any vacation time or personal time accrued at your place of employment, use it next week and come trade with me.

It’s going to be epic.

Have a good weekend,

OA

An update on the saga that is my son’s school Stock Market Challenge. Contest ends early next month.

Junior: Dad, my principal said my name over the loudspeaker today.

Dad: Busted in the girls locker room?

Junior: No, he said I am winning the stock market game for my entire grade. Not just my class, but for all of 7th grade.

Dad: That’s awesome brodie. Has your teacher said anything about your recent trades?

Junior: Last week he asked if it was a mistake that I put half my account into $SNAP. He said he heard it was a bad stock and was going to go down a lot. He was trying to talk me out of it.

Dad: Ha. Sounds like everyone on the internet last week. Has he said anything else since?

Junior: Today when he was looking at charts, I asked him to pull up $SNAP. When it came up, he started laughing in front of the class.

Dad: What was so funny?

Junior: He said “Jaxon put half his account in this stock on Friday at $19.10 and the stock has gone up 20%. He bought it right at the bottom! That’s just crazy!”

Dad: When it hits $30, tell him you want to teach the class for a day.

Junior: Nah, you can though. He wants to meet you.