It’s always nice when you can slide out of one and into another. That’s what I’m doing with $BYND and $PINS. (January 14, 2020)
PINS BYNU PINS BYNU
Pinterest ( NYSE: PINS ); over the last several days, I think it really started last week, I was looking at Beyond ( NASDAQ: BYND ) and I mentioned yesterday, last night, that I was out of the stock. And so, sure enough, I got out a little bit early but this was the best trade that I have had in a while. Really, really solid moves in the stock and in the call options that I had. It would have been nice to have still been long into this morning and of course, top ticked it right into 135.00; I didn’t do that.
What I tried to do earlier today was short the stock but there were no shares available to borrow. So the take-home on that is. that this is a very, very heavily shorted stock and that is as I suspected that one of the reasons why the stock is up so much. But at some point you have to say, “Thank you very much, sir. May I have another?” And then you move on. That’s what I have done with Beyond ( NASDAQ: BYND ).
My latest vehicle here is Pinterest ( NYSE: PINS ), the same kind of pattern. The stock doesn’t have that kind of short interest but the pattern is still the same so I will trade it. It’s up already on 3 times average volume; the stock is trading up, still well off the lows, off the highs as well though.
But what I think you want to do is, if you happen to be looking at this video during the afternoon here you will probably be able to get it before the close. I wouldn’t be buying this stock today; you have got to wait to see how it works out tomorrow. Frankly, if the stock breaks out to a new high that is above 22.17, then it is a pure momentum trade. A pure momentum trade, it might be a day trade. You are in the stock and then you ride it until it bucks you off.
If, on the other hand, the stock pulls back a bit more you want to see how it acts around 20.00, 25.00, see if there are still buyers that at this level. I suspect that there will be and that would be kind of a safer entry that wouldn’t drive you nuts. That’s how I would be trading Pinterest ( NYSE: PINS ). If you traded Beyond Meat ( NASDAQ: BYND ) according to my posts you should have a lot of money. This should have been a really, really good trade for you. I hope you are one of those people; I hope that worked out.
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