SpaceX. My love SpaceX. No, I I do have quite a bit of size in SpaceX. Uh so so SpaceX So here's the thing. I was in the in the SpaceX IPO. Okay. Wrote it up, sold it, and then it crashed.
Then it tried to go higher right here. You see my cursor, right? Tried to go higher right here, and then it it failed. I mean, it's no good. It started to look no good. So, I called a short on SpaceX under the lows right here.
Okay, it's one thing to trail your long position, but it's something else to initiate a new short. And to initiate a new short position, I have to have an actual setup. To trail my long position, I just need the reversal bar and I can just trail out of it.
So, I trailed out of my long position and I kept and I I started to look for a bounce back up. It didn't come. We got we retraced 100% of that initial rally and then the pop here was weak.
So I called SpaceX short right here and at the same time I called SSPC long which is the leverage SpaceX. So I called SSPC long basically right here. Okay. Added to it and then eventually trailed out.
And then SpaceX I didn't like it. I I was in a short short. I don't know exactly what day I trailed out of. Maybe here, maybe there. And then all of a sudden, it has that those two really impressive bars.
Okay, I'm not in it yet. Long. It reports earnings, gaps down, and then look look what happened. Boom. I mean, that's proof that it's higher because you got a very bearish gap and then yet it negated it and it ended up with a triple bottom or a double bottom, whatever you want to call it.
So, I knew it was higher at that point. So, okay, now let's look for a pullback. The first time I called it long was here on the one, two, three, stop right there. It gave me the pullback and then it gave me a topping tail.
The negation of a bearish bar is bullish. When it negated it, I called it again. Then it started to come back in and it looked like it was going to drop and then it didn't. Called it again long.
So, we have three positions in it long and then the stop. I raise the stop on it to this bar's low which is 13817. Now if it can pop and clear 155 and some change 156 it's actually 155 even if it can clear 155 I will go ahead and raise the stop on the position to yesterday's low which is 14287.
This way I'm always trailing my position and hopefully you know the target on it in the newsletter is at target one I think is at 170 but target two I'm looking for 210 220 but the initial target is 170.
So we have three different entries on SpaceX long just like we had I had two or three entries short on SpaceX if you look at SPCX and SSPC. So that's basically SpaceX looking good.
We really shouldn't take out yesterday's low, but we definitely shouldn't take out this bar's low. So, if you're in it long, you can already almost basically put your stop under 14280.
Anytime you have a pivot, what's a pivot? A V pivot is when you have a higher low on either side of a candle. So, you see how this candle had a higher low than the red candle's low.
And this candle also had a higher low. And you have a higher low on either side of a candle, you have a pivot. Now there are various levels to to pivots which you know how strong they are, how weak they are.
We teach all of that in the mentorship. So this is a weak pivot because we don't have multiple green bars in a row on because it's a brand new pivot, but it's not bad to use for trailing.
So we shouldn't take out 14280. If we do, then SpaceX is in trouble.
