PLTR -- sometimes you miss a good trade but is it... "THE TRADE"?
PLTR yesterday. You read in my prior post I didn't want any part of it just yet. I wanted it to hold up for a mega mean reversion setup. That being said, its price action wasn't really that surprising. They sold into the larger gap and it ended up being death candle from 9:30--just clean red bars on every timeframe. 80 to 71 move on a beeline. It's a nice move and I was only able to muster the courage to grab 25 of the 72 puts at .75 (this was when PLTR was around 78.50ish). Sold it mid 2's for +4500 when PLTR went to 72. It's hard to write something down "DON'T TRADE IT YET" and then change your mind on a dime.
But is this the REAL move? Most of the best top candles (SMCI, NVDA, MSTR) give you a second chance and then have a 2nd leg. Then it has multi-day followthrough. PLTR isn't checking those boxes. It feels more like MSTR 11/13. Just a gap that fills and then it's back into uptrend mode immediately and frustrating the late-comer shorts who think the backside is in.
I don't know what happens next. PLTR might peter out in a slower, annoying way. Not every stock trades the same. I'm just praying I didn't miss my chance yesterday.