IRobot ($IRBT) 10-21 After-Hours
IRobot ($IRBT) is a stock that was trading near $42 back in the summer, and traded as high as $48
With stocks blasting to new session highs and leaving last weeks sellers behind in a pile of ashes and dust, I took a look over at the CNN Money Fear and Greed Index.
It's still at an 8. It says there is extreme fear in the market. I have a fear of heights. It's not a small fear, a large fear, or an extreme fear, I just don't want to be higher than 20 feet in the air.
UPB HERE - The V-Bottom, in spite of the $SPY break of long term support, is still a valid reversal theme for the market.
I wrote about this briefly earlier last year.
The market remains in price recovery mode after last weeks collapse. The panicked sellers of last week have turned into panicked buyers this week. I think stocks will remain weak under broken support lines. If this rally can launch the market back over support... it's on like Donkey Kong. Call me Captain Ambiguous.
I'd much rather say definitively stocks are going higher, or lower, but I get much less flack on twitter when I am ambiguous. Also the only way I can be wrong about the market is if it remains flat for the next 100 years.
I spent the weekend looking at charts, getting ready for the barrage of earnings reports coming this week. I see a lot of charts that are broken, perhaps a massive rally from the market will change all of that.
Yesterday I entered KO $43 puts at $.46, a trade I posted in the private twitter account and in the chat room. Today those puts are worth over $2.50.