SNAP - oversold, bounce coming? or keeps selling

[KCalhoun]

What do you think re SNAP? I daytraded minor eod bounce, likely smarter to day vs swing trade it.

Who knows.... looks a bit oversold so I bot tiny bit 30sh for overnight. Should be interesting

 

[Jzwu2017]

You either catch a falling knife or a nice bounce.

 

[savoir]

It’s below $13. 30 shares? A 20% move is not even $100. Why bother.

 

[BeautifulStranger]

What do you think re SNAP? I daytraded minor eod bounce, likely smarter to day vs swing trade it.

Who knows.... looks a bit oversold so I bot tiny bit 30sh for overnight. Should be interesting

Consider trading a covered straddle and trading the underlying as you would do normally. As you can probably imagine, IV is very high now and SNAP is on IB’s hard to borrow list. Besides, there are probably not too many more -40% days left for SNAP!

 

[TheDawn]

What do you think re SNAP? I daytraded minor eod bounce, likely smarter to day vs swing trade it.

Who knows.... looks a bit oversold so I bot tiny bit 30sh for overnight. Should be interesting

I didn't care. I was going with the flow but looks like somebody is propping the market up again. With what's going on right now, the market should be going down lot more. We should've broken through the 38.2% fibo reversal level last Wednesday. I hope this is not deja-vu of the 2008 financial crisis all over again cuz that's what they did at the beginning as well. Propping the market up refusing to let it fall to until they can't anymore and the market crash-landed big time.

Hope you tp'ed in time with your UVXY.

 

[nooby_mcnoob]

Some guy, a few months back said the same about PYPL.

Trade the trend. There is no glory in the stress involved trading against the people with money.

 

[maxinger]

definitely swing traders better don't touch it.

will it snap to $5 and below?

 

[Overnight]

...
will it snap to $5 and below?

Hahah, see what you did there.

 

[maxinger]

Hahah, see what you did there.

 

[Overnight]

View attachment 285447

Speaking of snapping, that reminds me of one of the saddest moments in Sci-Fi history. Q's final SNAP, which happened just recently. No more Q. Such a shame, I loved his character.