My PACW swing trade plan

I like PACW here.

I think so, which is why I bought 5,000 shares today. My stop loss on this trade would be on a break below $6. And I’m looking for $2-$3 per share on the way to $10, maybe since there's a range to $12.

A few people asked me in chat today (water is warm, come on in) if I liked the options and the short answer is absolutely not. The IV on these, depending on the expiration, is between 300-500% right now making it really hard to win on the options.

What I see is a nice double bottom at $5. Range to $10 if it bounces and maybe even $12 if it can hold off sellers, which I think it will. The company had a good earnings call and the stock responded nicely that night and the following day. But the events after dragged it lower. However, now it’s giving me a very clear tradeable bottom, as I do not think this follows the same path as FRC for reasons mentioned in the earnings call.

Any questions about this trade or others, SUBSCRIBE and stop by the chat room and say high.

We traded a bottle rocket in DXF earlier from $.30-$.50 and it could be setting up to run again.

This was on the watchlist I mailed you this morning. Did you make the trade? If not, check the intraday chart and learn how it moved nicely once above $.30.

You might want to SUBSCRIBE to Lightning Alerts because I alert your smartphone BEFORE I buy and sell, allowing you to learn in real-time.

Not every trade is a winner but make no mistake, we’re trying to win!

DXF is just one of many names ripping today. We’re putting trade plans together on a few of these as well. Stop by.

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