SHORTY WAS HAAPPY FOR AN HOUR LOL
I bot 36 put June 72.5 for 2,1 when it was 80 today I wrote 36 PUT 65 for the same price.....I still think that LULU will go to 63-65 in the next 2-3 weeks
I went to the CASINO today, part of CASINONOMICS class. XSliquidity
Some big dogs sold today.About 2 million shares sold in early morning to bring lulu down 9%!!I have not seen such moves for a long while.Definitely, condidence took a pounding, the safe, growth investment thesis is pierced.What happens to momentum stocks when movement reversed and stock/confidence got hammered?
earnings soon huge by my estimates
I shorted from $79 to 80.5, covered majority today.I thought this would be a protracted up and down stretch, couldn't believe 3 consecutive, heart pounding down days.Today could have been a capitulation day, however, it went down so big but pared most of its losses, this usually sets up more down days. May be not in a straight line, but confidence has been shot.