If I hadn’t been so distracted with the 28 positions I’m already managing, I would have loved to have shorted SHOP this morning. Check out this chart: after earnings, it ripped higher, but the moment real trading started, it was off to the woodshed. Can you IMAGINE the poor souls who owned puts and dumped them the instant the market opened only to see them explode higher in value??? It went from a huge gain for SHOP to an enormous loss.
The pop higher was a nearly perfect pushed to the topping pattern. Congratulations to anyone out there nimble enough to have nailed this sucker. This massive whipsaw broke a LOT of hearts this morning, I guarantee you.
