AG 2000' said:
mazag08 said:
GILD with an absolute gift this morning. I doubled my positions for both September and October.
What's your thoughts on this one?
Looking back to last spring there is heavy heavy volume and bag holders over the covid vax speculation. There's going to be heavy selling in the 72-80 range, and no clear catalysts on deck.
I've posted a lot about it.
Crash course with $75.00 - $75.25 short term. Should happen before Sep OPEX but who knows. All of this sideways action the last 1-2 weeks has been consolidating here at these levels. I think we ultimately hit $75, then $77, then $80, then $86 with retracements in between each one. How it gets there is anyone's guess. We're due a pretty substantial impulsive move sometime soon. But it could just be a slow climb. I'm taking profits at each of those levels I listed and then buying back in after the dips with at least a month's timeframe to hit the next target.
We already broke through the long term ascending triangle you mentioned. So there's no point looking backwards unless you're doing what I do and using EW theory to figure out where we are in the current count.
Edit: I'll try and post a chart tonight showing what I'm seeing with GILD. But I need to clean it up and take some time to explain the waves and why they are set up the way they are.