Crowded House

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I wanted to harp on a bit about the Crowdstrike trade I mentioned in the video. As I stated, I bumped up my position by 50% on Tuesday in anticipation of after-hours earnings report (which is dumb, and I honestly don’t make a habit of doing). I stand by my original position, but goosing it higher was just greedy, since the gap is as plain as day. Here you can see the gap, and it did a yeoman’s job sealing it up picture-perfect after hours.

Here is the detail of after-hours action. It ripped right up to the gap, even exceeding it by a penny or two, and then backed off. Suffice it to say that the more sensible approach would have been to stand pat on the existing position and add to it in the freakin’ MORNING. Sheesh, I can be dumb.

The longer-term chart illustrates, I think, the alluring potential of this short.