GM Inverted H&S

The pennant was obviously a reversal pattern at this point, got a back test this morning and formed somewhat of an inverted H&S. In for some calls for a short term trade (probably until Monday).

I'm bearish but money flows into the market in January, just like last year. More so because they took the money out last year, so the money has to go somewhere.... which is right back into the market.

In any case, GM options have cheap premiums and good liquidity.

Yorum:

Winner, winner, chicken dinner. Take the money and run... though it may want the $38 gap fill.

Congrats to any followers that bought calls with me.

Yorum:

I'm out at $37 with a nice gain, there's a chance that it goes to $38, but looking at the chart last January, it spiked then went down. Might do the same here.

Yorum:

OK, I got out a little early, but hey, a big win is a big win. Like I said, it did the same thing last year.

Yorum:

Like I've been saying, a repeat of last January. If anyone knows of stocks that gapped up or down last January, post it here or send me a message please..... looking for ideas.

Obvious one is to short NFLX at the end of the month, lol. At the rate it;s going, it'll double top.

Thanks guys and gals.