Here’s how I’m trading Upstart ($UPST) – July 13, 2021
UPST
I want to look at an IPO here. There really wasn’t much to do in the market today, other than hyperactively trade and give a bunch of money away, so I didn’t do a whole lot but I did do a lot of research.
This is one of the things that I found, this is an IPO, you can see it, but it’s right in a volatility squeeze. I mean, these Bollinger Bands are really pretty tight, about 7, maybe 8 percent.. For an IPO, that’s pretty low volatility, very low volatility for an IPO. It takes them quite a bit of time, running around up and down and driving everybody nuts until finally it kind of settles out.
Now, I don’t know if this is going to settle out or not but I do believe this, that if this stock runs up above 130.00 or so. We’ll look at yesterday and 130.90 was the high, so you could say 131.00. If this stock breaks to 131.00, that is a new high over the last several days and so that is when I would buy the stock. If it doesn’t move above 131.00 then why are you buying it? You are buying it just because you just feel like buying something, and that’s fine if that’s your deal.
But if you want to make money and manage your risk you really have to wait until the stock breaks out before you buy it. But you have to buy it soon, you have to have an alert set, maybe even a limit order, a limit buy order, to where you are only buying the stock if it hits $130.95 or something like that but you have to get it early in the move.
That’s why we look at these now. We look to see what these are, getting ourselves setup to take advantage of it. As opposed to just looking at, hey, look at what this did yesterday or last week. You have to be proactive and look at something that could happen tomorrow or the next day. That’s what I am doing here with Upstart ( NASDAQ: UPST ), pretty simple stuff, really.
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