Act Fast on This Meme Stock Trade
When it comes to using my TPS trading system, I pay special attention to squeezes.
I know there could be a big move in the works if I see a fresh daily squeeze on the S&P 500 index.
But it’s important I pick the right stock – one that won’t be too affected by earnings reports from big tech companies.
And I just found one with a great setup.
Click the image below to see it.
YOUR ACTION PLAN
GameStop (GME) is in a very bearish pattern here, and I want to get short. I’d like to buy the November 4 $25 puts on a rally in GME to between $25.50 and $26.00. If that happens, I’ll use a stop on a close over $27.50 and my target on the downside will be $20 to $21.
The reason I’m going with GME, other than the fact that it’s showing a perfect bearish setup for my system, is that we have a lot of huge tech earnings announcements this week. I don’t want to be exposed to highly market-sensitive stocks and then get caught up in the potential volatility that could be coming. I believe GME is a textbook bearish setup that isn’t overly sensitive to the broader markets, and that’s why I chose it to trade this week.
P.S. I was able to quit my nine-to-five job and spend more time with my family by making trades using this TPS system. However, I never would’ve gotten there if I hadn’t connected with like-minded people. That’s what you get to do when you join The War Room. It’s a community full of traders led by two experts in Bryan and Karim. Just yesterday, they closed seven trades and won on all seven for a 100% win rate. (In this market!) And right now they’re guaranteeing you’ll receive 252 winning trades in your first 12 months of membership.
I closed the (XBI) 1 Shares/Contracts I opened at $4.90 for $6.05. Thanks Karim for a 24% win (over 29 trading days) to start the day! I have a 55+ hour/wk job so I can only be in TWR for 1 1/2 hours in the morning Tuesday thru Friday. I love Mondays because it’s my day off and I choose to spend it with my fellow War Room Warriors!- Chris F.
Out (of CCJ) at $0.17 (in 36 trading days). Thanks for the 72% Karim!!- JoeS