Anyone here looking at DDOG today on the long side?
- Thread starter The_hero
- Start date
Upgrade by Mizuho should help:
Mizuho Securities Upgrades Datadog to Outperform From Neutral, Raises Price Target to $155 From $135
I think with the rotation from growth to value it might just go sideways to higher. Premarket it was $133+ but it is struggling at $130 so I think traders don't want to own growth. DJIA +1.4% NASDAQ -0.22% says it all.
Mizuho Securities Upgrades Datadog to Outperform From Neutral, Raises Price Target to $155 From $135
I think with the rotation from growth to value it might just go sideways to higher. Premarket it was $133+ but it is struggling at $130 so I think traders don't want to own growth. DJIA +1.4% NASDAQ -0.22% says it all.
I'm long DDOG since approx a month. See post,
https://www.elitetrader.com/et/thre...-and-strong-stocks.379802/page-3#post-5985689
https://www.elitetrader.com/et/thre...-and-strong-stocks.379802/page-3#post-5985689
Maxinger, I tend to agree here based on today's lackluster performance despite getting an upgrade. Although it may make the move tomorrow. I would put in a stop just under today's low.
There also seems to be some movement out of tech and into dow stocks and small caps.
I owned them long in 2020 but took my profit much too early on the trade.
Personally, I would be looking to short a failed breakout here but I wouldn't hold over the next earnings release. It really depends what what you think of technology stocks as a whole too. It also depends what you expect to happen when we start cutting rates in September. I am expecting a classic buy the rumor, sell the news scenario in September when we actually cut so I am not looking to put on any new longs here. Everything is so up across the board from the October lows that there just isn't much new bullish news to price in when we actually start cutting.
Personally, I would be looking to short a failed breakout here but I wouldn't hold over the next earnings release. It really depends what what you think of technology stocks as a whole too. It also depends what you expect to happen when we start cutting rates in September. I am expecting a classic buy the rumor, sell the news scenario in September when we actually cut so I am not looking to put on any new longs here. Everything is so up across the board from the October lows that there just isn't much new bullish news to price in when we actually start cutting.
Your STOP would have been hit.
Choose a trade that will give you a > 30% success rate.
ANALOGY
And choose a chart that looks sexy/decisive/smooth/curvy
and not ugly/plus size/out-of-shape.
This is similar to the concept of choosing a sexy lady in a brothel.
We want instant erection (I mean profit), not ED problem (I mean loss).
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