SHOP: Two downgrades in a week. Who could have guess that SHOP
is not done moving up? I have taken a short position only to reverse later upon my realization that the recent correction looks like a wave 4. Yesterday, with the 2 downgrades, SHOP dropped 3% and I was able to revise my count to make the recent correction a wave 2.
Today's rally proves that it was a wave 4 afterall with a perfect 38.2% retracement.
Sorry folks. This thing is very strong. I have to unload my puts at sub (ii) of 5. Hope the general market selloff will give me a deep wave (ii).
Today's rally proves that it was a wave 4 afterall with a perfect 38.2% retracement.
Sorry folks. This thing is very strong. I have to unload my puts at sub (ii) of 5. Hope the general market selloff will give me a deep wave (ii).
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Sub (i) of 5 could be done.
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