November 13

Momo Market Roundup, 11/12/2021 — Strong SHOP, Weak TSLA, Iffy SPY


SHOP Pops a Week Late

We were a week early on our prediction for Shopify (SHOP) to surge. It happened today, but we were still able to grab 1550 calls, targeting  the 1650 level. If you had followed our watchlist, you could have picked up next week calls for $30 and sold them for $110.

We also got 1620 calls for $8 and they ran up to over $40. If you had bought 1 contract for $800, you could have sold them for over $4,000. 

We're looking for SHOP to continue this move into the 1700s next week. Let's get paid!

Looking for a TSLA Short

Tesla (TSLA) continued to act weak today. I went short even though there was $4 million in call buy and only $500,000 in put buy. Every test of the VWAP rejected.

We're watching for TSLA to break 1000. If it does, we could see a fast flush into the mid-to-low 900s. Huge short opportunity that we're looking for on the horizon.  On the flip side, if the recent dip holds for a few days, we could see a surge again on a squeeze.

Long Swing on TLRY

We're expecting Tilray (TLRY) to hit 20 sometime in 2022, so we went long on a swing trade for June 2022 ($22 strike) and December 2021 ($13 strike) calls. And thus the waiting game begins, risking vs break of 10.

We're Being Cautious

Caution is the name of the game in the market we're seeing. If the SPY gets to 468, only to get rejected and break back below 465, we could see a return to profit-taking. While some of these names are pushing and running, we're trading with a light touch.

Member Trade of the Day

Edumomo member lolchops went long on AMZN and TSLA to end the day up 6%, despite put losses on NVDA and BLNK. That's the beauty of the Edumomo method — you can lose on half your trades and still come out well ahead.


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