SpaceX closed at $192.45 today, and my inbox is absolutely on fire.
How do I trade it? What moving average? How do I day trade this thing? Yada, yada, yada. I have been getting these questions all day, so let me give you the bad news and the good news.
Bad news first. You cannot use your technicals on this yet. No volume profile, no 50-day, no 100-day.
This thing has a two-day moving average, the cutest little birthday I have ever heard, and it cannot tell you a thing.
Good news? There is one thing that works on a brand-new IPO, and it is not technicals.
It is price, because price is what pays us. It already told us this rocket was about to take off before it did, and it is the only thing I am using to trade SpaceX right now.
I am long this thing, I have been a cheerleader from the start, and I would not dare short it here. It is on a heater. It is cooking. There is no need to be clever, because clever is just lucky money, baby.
I broke the whole thing down on video, including the one price signal I am watching now that options start trading tomorrow. So let's jump on this rocket together.
Watch it here before tomorrow’s open.
Rock On,
Voz