Sold off on strong earnings release
Sold off on secondary offering at $1315
Continued weak with broad NDX100 sell-off
My strategy for week no. 9 :
• Assess NDX100 trend by Monday close (is selloff accelerating or abating?)
• On SHOP move toward $1390, trim position (cut long shares by half)
• If SHOP trends toward $1180, convert long shares to in the money Jan 2022 calls
I'm still bullish. Expecting near-term rally to $1390 (not more selloff). But NDX100 is worrisome and could pull SHOP lower.
Sold off on secondary offering at $1315
Continued weak with broad NDX100 sell-off
My strategy for week no. 9 :
• Assess NDX100 trend by Monday close (is selloff accelerating or abating?)
• On SHOP move toward $1390, trim position (cut long shares by half)
• If SHOP trends toward $1180, convert long shares to in the money Jan 2022 calls
I'm still bullish. Expecting near-term rally to $1390 (not more selloff). But NDX100 is worrisome and could pull SHOP lower.