ChrisPtaco_32

ChrisPtaco_32

Apple looks like it is about to drop like a rock. I wouldn't mind picking up some shares and scaling in below 157 as an AI investment play. I currently do not own any. We shall see. It is a short right now. Scaling into puts! See targets on chart below. Not financial advice!

ChrisPtaco_32

Happy Valentines Day Everyone............344% Upside!!!

ChrisPtaco_32

I like to look at the combo pair of (XLK+XLY)/(XLP+XLU) to compare risk on vs risk off. This clearly shows RISK ON in full effects and might just be getting started. Almost making a new all time high. Overall bullish tech & consumer discretionary. This is not financial advice!

ChrisPtaco_32

Keeping it simple Long: Close above 15500 and I think we go to new all time highs on the Nasdaq. Short: Close Below 14250 and we watch for a break of previous swing low. After last weeks thrust, I am doubtful we go that low again. This looks like distribution in an overall uptrend. Moving averages turning back up. Bouncing off of key support at the 200 SMA...

ChrisPtaco_32

Bounced perfectly off of the 61.8 retracement (2020 low to 2022 high). Total drawdown from 2022 high to 2022 lows was about 37%. Looking back in history, the length and drawdown is about average at this point for a typical recession. One has to wonder, is the bottom potentially in? The trend, as seen on the Madrid ribbon, is clearly negative and sloping down. We...

ChrisPtaco_32

Costco is probably one of my favorite places to shop and I think the stock price over the last 14 years has proven that to be the case for a lot of people. The main issue I have with buying this stock is valuation and growth of the company. I don't see how they will be able to grow fast enough to support a 35+ PE ratio. Taking the fib from the 08 lows to the...

ChrisPtaco_32

It is hard to tell what is really going to happen to disney. The valuation on a fwd PE looks to be reasonably valued as well as a low price to sales ratio. The question really is, are they going to pay down their debt over the upcoming years and will they have the free cash flow to support paying down that debt. From a purely technical standpoint, it is at the...

ChrisPtaco_32

Just looking at purely technicals, the market structure is still overwhelmingly bearish. We still have not seen a massive Vix spike above 40 to signal a potential bottom (or start of something worse). I extrapolated out that last move down and it brings the QQQ into a logical zone. Previous ATH in 2019 before the covid plunge and it is also around the 61.8...

ChrisPtaco_32

Halliburton has broken a 8 year downtrend and it looks like it can continue to go higher. Solid earnings report yesterday and the global demand for oil is strong amid sanctions on Russian oil. With a forward PE of around 23.58 and a dividend of 1.15%, this is exactly what the smart money wants right now. I have been positioning into this for a long term...

ChrisPtaco_32

Price action has been range bound since the crash in May. Pretty simple. Get above 42k horizontal resistance and the resistance formed from the May crash, I think we see Bitcoin go to 150k-160K minimum. That is my base case for this bull cycle. A close below the 28k-30k support, and I personally think it goes to 20k and we enter another accumulation phase. I...

ChrisPtaco_32

The dollar has continued to show strength since the beginning of the year. This is a 3-day chart and it is showing positive divergence on the MACD since January and we just got a crossover into positive territory. On top of that, it is squeezing to the upside. This could just be repricing in the huge loss it has had over the last year. I expect a continuation up...

ChrisPtaco_32

Looking at an 8-hour timeframe here of the QQQ and we have had a clear break of the channel that it has been trading in since November. It looks like we tried to back test the lower trendline and got rejected with heavy selling pressure. Momentum indicators are signaling some major loss in momentum and it is not oversold yet on the RSI. We will have news from JNJ...

ChrisPtaco_32

Bitcoin is pulling back aggressively but to be honest, that's what it does in it's bull market. If you look at history, a 30%-40% pullback is very common in it's bull market phase. I will be looking to add to my position around 38k-42k. I think this is going to be one of the last really good buying opportunities. I am not a financial advisor and this is not...

ChrisPtaco_32

The channel that formed in November has been beautiful to trade but it seems like we have finally started to see some cracks in it. We are looking at a 4-hour chart here and it looks like we had bear trap and a bull trap all within a few days. We have broken the prime trendline, retested it, and have resumed down off of it with heavy selling pressure. I think the...

ChrisPtaco_32

Alright so this one really blew me away. If you take a look at a monthly log chart of the total market cap of the crypto market, clone the lower prime trend line, and add in a cycle from peak to peak of the previous two cycles, we are looking at anywhere from 10-15 trillion dollar market cap in the crypto market within the next 6-12 months. Do I think that is...

ChrisPtaco_32

Looking at an 8H chart of Ethereum , we have a nice ascending wedge pattern forming. We have tested previous ATH's three times and we are holding the 20 EMA. Overall this looks very bullish to me and I think Ethereum is poised for a breakout. It could go either way right now so lets see where it takes us. A break above 1419, and to the moon we go! Good Luck!

ChrisPtaco_32

Salesforce has been consolidating since August. It took an unnecessary hit due to its Slack acquisition which yes was expensive, but I think Benioff has a plan to ultimately compete strongly against Microsoft. Divergence on the MACD and RSI as well as a nice squeeze indicated, I think this thing is going to pop much higher in the next couple of months for a very...

ChrisPtaco_32

This is a 2 hour chart of Ethereum showing a nice breakout and resumption off of the upper trendline of the pennant. Looks prime to try to test all time highs at 1419. Bitcoin does not look as bullish as Ethereum right now so maybe this is a preliminary move to Bitcoins next rally. We'll see where the next few days take us. This is not financial advice. Good Luck!