How’s your dog?

Retail investors were rewarded today not by a booming market, far from that, the DOW did a big backslide, but by a couple of stocks in particular that really took off. Both offered fresh entry points throughout the day. No we’re not talking about NVDA, AMZN or GOOGL, but rather by a couple of other well known house hold names like DELL and CHWY. Yes Chewy, the pet supply people.

Lets start with CHWY, it wasn’t even on my radar, it’s not my typical set up. But as an Options trader when opportunity knocks, I have to answer. CHWY closed up over 27% on the day. The one I liked better was DELL, why you ask? It only closed up right under 8% on the day in comparison, well it’s because it is my kind of a set up. A little late to the party here, no denying that, and trades like this are made for the quick of decisions.

What drew me in was it falls right into our “Strength typically creates more strength where as Weakness typically creates more weakness” model… Can we say “The strong get stronger” from here?

Both of these charts are using Weekly bars and not Daily. DELL is looking a little extended here and I am watching for pullbacks to form a new box. Any new entry would have to be managed well. The moral of the story is simply do what you do best, ( DELL ) but be willing to explore by going out of your comfort zone to grow, ( CHWY )

And tell your dog I said hello….

Invest wisely, live charitably and be well

Brother Bill