Good evening fellow traders! Wow, what a crazy day in the market today. This market is so bipolar that I am tempted to take a prozac to calm things. Ha! Today with the news and all the selling it definitely changes my feelings on the market. With that being said, mostly looking for squeezes but we will have to see how the market presents itself.
GMCR missed on earnings so naturally JVA would have to pay the same price. This is a prime example of why you don’t hold stocks going into earning season. One wise trader told me once that its not worth the risk verse the gain when it comes to holding stocks into earnings. JVA didn’t have earnings but GMCR is a big name in the coffee industry so it would drag all other coffee stocks down. Well I am still bullish but it will need to have to washout, trade sideways, higher highs (5 min chart) then BOOM short squeeze. JVA has 21% short interest. So it can go either way.
So GMCR. Down huge AH. again like JVA looking for a washout.. sideways action.. looking for higher highs on the 5 min chart, and then BOOM short squeeze (usually happens around round number) BE CAREFUL. Only for advanced traders… If you are a beginner I would watch on the sideline and take notes!
Oversold + possible doji. Will have to see how the market presents itself. potential short squeeze.
high short interest. technicals look good. Good support. Looking for a break of 50ma before I place a trade.
another high short interest. Great support here. If market is willing this will pop. If it breaks this support line short!
X factor is on tonight so this had to be rushed! 🙂
Good night!
