Check out my audio-blog series, where I narrate all my favorite blog posts for you guys. You can find that here.
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Office construction almost complete guys! Hoping to be back in the room daily within a week or so now, see you soon 🙂
EH: One of my favorite indicators for a bigger picture reversal – volume tells all. We had a significant move for the past week but volume remained rather uniform, so that tells us it can just continue chugging along as it churns through new rounds of shorts roped into the pump. Today however, we saw the volume nearly double relative to the other run days, so we’re entering into “blowoff” territory. Perfect world would be one more shove in the morning towards the magical 100 mark, and then look for this to start to fade in a big way. Would be watching any morning rejections of 80 as well to possibly get involved, 100 may be wishful thinking. Either way, should be on your radar for a short trade maturing here.
RIOT: Back on radar long. Bitcoin has been in a steady downtrend/stagnant for a while now since the big move, and that is inevitably going to end in my opinion (heading back higher soon). With the Inauguration out of the way, look for some stability to return here and buyers to get brave again and resume the march north. Should bitcoin begin that march, you’ll want to be long RIOT for the ride. P.S. still can’t get used to saying that lol, feels dirty. But the trade makes money, and who am I to decline money.
CLBS: Love these. Most will look at it and say they “missed the trade”, however if you have patience and discipline to keep it on radar, there’s plenty of room to win here yet. Hoping for anything back high 3s tomorrow and then look for gravity to step in and do it’s thing over the next week or so.
Shoot me a message anytime in chat (DGTrading101 is my IU handle) and I’m happy to discuss your trade ideas with you. If you’re not an IU member and would like to become one, you can join us here.
See you out there!
-D
Thank you, Dante!
Thanks! really informative explanation of thesis.