CNK Swing

 DEC 31 UPDATES BELOW



Strong tight coil here, clear levels to work with. Great structure, tight range. Short float at 33%, looks like a great candidate. 


Beat down name. On entry was ripping higher with big vol after failing tests lower. 

Held high and continue. Trying to add more. 

Never got the fill, stuck with 1 contract. Is fine, will have to treat it as normal bo trade to get out. 

Huge move to big bo level. 1.5 ATR move. Will hold for much more. Beatdowns look like more recovery. Wanting 20 before taking off. 

Welp, giving it all back. Slowly downtrending all day after huge rip at open. Giving me a chance to add I guess but geeze. Barely positive atm, still another half dollar to original entry. 

Rip up 1st hour of the day 2 points. Sell off straight 2 points for 4 hours, no pullbacks, to breakeven. Vol increasing here, at over extended from wedge. Still above bo level. May add here and use as stop if cant recover from this point. ATR move from HOD puts us at 17.20 which is right where we are. 

Added as we got above big offers and broke TL. good vol here. Well overdue for recovery, if wants to be strong on D timeframe, gotta see it pick up the pace. 

Nice vol pop, retraced a bit, failed to make new low, popped higher again, MAs starting to get under, added one more. 

End of day saw big sell in SPY, CNK followed after big short squeeze higher, back under original entry. Im going to cut some size down here, im pretty big and todays action could have been a lot better. Overall we made our breakout, but we sold off after it all day not holding a thing, no reason to risk more money on this. Will put more down if it appears. 

If not, all out under hold of bo 

2nd

Bailed on big market sell. Came to negative, no reason to hold a loser. Couldnt hold anything all day. Maybe get back in another day but not expecting much now. 

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Looked for re entry today on double inside days building towards bo point again. Weak open, but reclaimed hard and made nice big flag. Took entry as it was above close, still under prev hi. Big vol on move away from it. 

Immediately failed. 

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