We’ve seen an epic bounce in the market post the Fed meeting, and since then, it’s been Risk-On. MEME stocks are back; you can read about my trade on GME HERE if you missed it; low float stocks are back, we’re seeing many 50% plus movers in the junk stock space, and there’s a lot of FOMO right now with this euphoria.
But I’m not sure this madness will last much longer; this type of price action is unsustainable. However, this increased appetite means there are more trading opportunities on the long side, something that’s been missing for a while now, and maybe why traders are trying to make the most of it while it lasts. Here’s What Happened to The Professor’s Bitcoin Trade in RIOT:
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It’s vital to have cutting-edge technology to stay ahead of the curve and keep up with the competition. I mean, you’re trading against some of the brightest minds and biggest institutions in the world, and if you want to compete, you have to take your trading seriously. The MACD BOOM scanner helped the Professor find his latest pick.
The Professor’s MACD BOOM scanner picked up a trading signal in RIOT on Tuesday. RIOT is a bitcoin miner, so when these types of stocks start to move higher, it’s a sign of strength on the speculative end of the market, so this signal was a precursor to the euphoria we’ve been seeing!
Bitcoin had been breaking out and holding for a few weeks already, and the whole market was strong, so this gave the trade signal extra confirmation!
Here’s what happened to RIOT after the Professor’s MACD BOOM scanner picked it up:
The Professor, Mike Parks played the call options at $0.38 and landed a winning trade exiting at $0.60. That’s over a 50% move in just a couple of days. This flag setup worked perfect.
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