I bought this Burry play that has a nice setup

2023年3月20日

As they say, "When you don't know what to do, just copy Burry."

He bought at a much higher price than where we are at now and it's at this long term support line, so it seems like a good spot to buy.

I got in at $55.40 and I have two targets, a 10% gain that is around where Burry's average is from last quarter and my ideal target between $65-68.

Stop is a 4.87% loss at $52.69, which gives a nice risk/reward of 2 if the first target is reached.

2023年3月20日

註釋

Here's zoomed in chart of some smaller scale resistances to keep an eye on and also some potential paths that I think it will follow.

There's also some RSI divergence which is a good sign.

2023年3月22日

註釋

BKI is sneaking though the resistance, let's do this Burry!

2023年4月3日

註釋

Raised stop to 53.98 with the breakout of the blue line on Friday.

SPY is showing topping signs though, so I expect weakness in BKI too while that happens.

2023年5月1日

註釋

I lowered the stop to 53.48. There's some positive divergence and I don't want to get stopped out. Hopefully can hold until earnings and hopefully earnings will bring some positive movement, if not earnings will probably be the end of this trade.

2023年5月3日

交易結束：達到停損點