Here’s a snippet from last week’s After Hours with Option Addict discussion about the stock heading into this week.
Start this video at the 12:15 mark and run til 18:ish. This was recorded THURSDAY after the market close.
How’s that for a road map?
I almost impressed myself with myself.
$SNAP quiet period expired and like I’ve been saying…if you’re selling something, won’t you speak up and reiterate it’s worth buying?
MS – Overweight, $28 PT GS – Buy, $27 PT Citi – Buy, $27 PT RBC – Outperform, $31 PT Jefferies – Buy, $30 PT
In other news, OA Jr is all over the text today, telling me his whole account is green into an ugly market and can hardly bear it ($SHLD/$SNAP mostly).
I picked up $BOX calls…nothing else going on today.
I’m swiftly losing interest on doing much to alter what was a fantastic week. I have a few things I might take here today, but I already have my sights set on the weekend.
Congrats to those who took a leap into the unknown to participate in a flawless sentiment observation these last several trading days. The best part, it’s just getting started.
If you have any vacation time or personal time accrued at your place of employment, use it next week and come trade with me.
It’s going to be epic.
Have a good weekend,
An update on the saga that is my son’s school Stock Market Challenge. Contest ends early next month.
Junior: Dad, my principal said my name over the loudspeaker today.
Dad: Busted in the girls locker room?
Junior: No, he said I am winning the stock market game for my entire grade. Not just my class, but for all of 7th grade.
Dad: That’s awesome brodie. Has your teacher said anything about your recent trades?
Junior: Last week he asked if it was a mistake that I put half my account into $SNAP. He said he heard it was a bad stock and was going to go down a lot. He was trying to talk me out of it.
Dad: Ha. Sounds like everyone on the internet last week. Has he said anything else since?
Junior: Today when he was looking at charts, I asked him to pull up $SNAP. When it came up, he started laughing in front of the class.
Dad: What was so funny?
Junior: He said “Jaxon put half his account in this stock on Friday at $19.10 and the stock has gone up 20%. He bought it right at the bottom! That’s just crazy!”
Dad: When it hits $30, tell him you want to teach the class for a day.
Junior: Nah, you can though. He wants to meet you.
As you know, I have a large stake in this spread out over a multitude of expiry’s.
The weekly calls that I purchased last week at an average of $.17, sold for $2.15 just moments ago.
That’s +1165% return.
What’s great is that so many got to walk this one with me. I made sure you had a chance.
Next week is going to be awesome.
Quiet period ends Monday. There’s going to be an assault on the #SNAPTARDS as upgrades, buy recommendations and lofty price targets lay waste to those that couldn’t quite grasp the unique opportunity this stock presented.
Again, I could care less about this company. I could care less about value. All I cared about was the inflection point that would change the minds of what value participants will be willing to pay. I fucking nailed that.
The story isn’t over. The stock has rallied 23% off the lows, and the experts are saying sell the rally and the sentiment has changed only slightly.
Sentiment won’t turn bullish til we take out the highs, then the #SNAPtards have to sit out a rocket launch opportunity, or chase higher.
Either way, win/win.
For all the questions that will flow here about “where is this going?” and “What is your target?”…from here, I won’t really respond to these. I made my early calls about all this already, and I really don’t like managing the trades of others in this context. Therefore, from here…if you choose not to sit back and read what I am doing, just be…the…ball.
Ty: Danny. I’m going to give you a little advice.
There’s a force in the universe…that makes things happen.
All you have to do is get in touch with it.
Stop thinking. Let things happen…and be…the ball.
Ty: Where’s the wedge?
Find your center.
Hear nothing. Feel nothing.
Danny: That was kind of incredible, sir.
Ty: You try it, Danny.
Danny: Pardon me?
Ty: You try it.
Just relax. Find your center.
Picture the shot. Picture it.
Turn off all the sound.
Just let it happen. Be the ball.
Be the ball, Danny.
You’re not being the ball, Danny.
Danny: It’s difficult with you talking like that.
Ty: I’m not talking. Stop talking.
I’m not talking now.
Be the ball.
If you aren’t in as of last week, you’ll wish you were.
$SNAP saw another early pop, then a slow fade.
Today, it will apply a little more pressure into the close. Not too much as to make them scatter, but enough to make them sweat a little.