Sunday Prep 8/01 - $TTWO LONG & SHORT

You guys may remember this from last week’s prep as one of the short ideas. With them reporting numbers this week, there are actually setups for both longs and shorts, depending on what the market’s reaction is to the report. If they gap down big, that 139-140 area is SUPER juicy. I highly doubt it gets that low just off the earnings reaction and would be prepared to scoop emotional flushes off the psychological 150 level.

If they gap it up off the numbers, I would most likely be prepared to fade an emotional spike into that 187-190 area. Next area higher for the short is the psychological 200 level.