Sagar
Will this undervalued drug retailer break out of weekly Memory resistance?

$RAD.

1) Its industry gained strength today.

2) The stock is up by more than 14% as of this post.

3) Undervalued with (4) positive and increasing earnings growth and (5) a short squeeze potential.

6) More than 70% of peer stocks are up today.

7) Relative Performance is very strong.

8) The stock is about to break above weekly Memory resistance.

9) I was tracking the stock since last earnings when it gapped up with a massive up move and (10) that was accompanied by Extreme Bullish Pressure and (11) Extreme High Volume.

12) After that, it paused for a day and today again it is shooting up, giving a possible buyable gap-up entry. 

13) It is displaying Bullish Pressure again today.

Will you consider buying it? Or wait before buying? If you buy, what instrument will you consider using?

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Sagar
If you are accurate in your direction and are shorting Puts when volatility is high, then even one day makes a lot of difference.

1) When I shared the post on $RAD yesterday, I had shorted some Put options (which is very risky unless you are ready to buy the stock anyway - I don't suggest beginning options traders to short naked puts or calls). 

I had timed that trade well yesterday using CUE Fine Tune real-time chart.

2) Today, RAD is slightly down.

3) Still, I have more than 40% profit in that short Put trade. That is because of the volatility drop. That was my expectation, and that was why I shorted the put. One technique is to book profit when the short put hits 50% or more profit level. 

What is your technique? And did you take a bullish position in RAD at all?

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Sagar
Since I first posted about $RAD seven days ago, it did break out of the Memory resistance in the weekly (1).

I had taken a short-put position that I exited with a good profit and then I took a long stock position with some of the profit. The long stock position is also in a profit and I will try to make sure not to turn it into a loss. I have more than 6% profit in the stock position.

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Disclaimer: This site is for educational purposes only, explaining the use of CUE systems and techniques. It is not for trade advice. Trading involves risk. You and only you are solely responsible for the outcome of your trades.

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