Tackle Today: Stock of the Week: PINS đ | Tackle Trading
â Feels like CrocsÂź. â
It was just one of those regular weekly Scouting Reports meetings until there was this ticker in the spreadsheet:
PINS
- â Probably a typo.â, I thought.
No, it was not a typo. It is Pinterest. I was then immediately sent into CrocsÂź mode. Thatâs the situation when you read the ticker, you donât believe it is a publicly traded company, you go to FinViz, itâs there (Sector: CONGLOMERATES, WTH!), you pinch your forearm, you feel a little dizzy, and, in the sequence, throw away the cold beer on your glass-it was tasting sour anyways.
Yes, Pinterest is a tradable company, so, you voted, you got it: Pinterest is the Stock of the Week on Tackleâs Instagram. Go to our profile and check Coach Timâs analysis on the asset.
Tim is the IPO Coach in the SR meetings. He was the one who came with CrocsÂź three meetings in a row until he convinced us that the foam clog shoe is great, fashionable and tradable.
Although Pinterestâs core business is not particularly identifiable-looks like a platypus-, the trading setup is great: a symmetrical triangle heading into earnings. Guess which Greek fits like a pin (sorry, like a glove) in this case. Vega.
In the end, that is what matters to us traders: we donât want to be right but just wear our CrocsÂź while we trade PINS and make money.
Chart of the Day: Giant PIN formation
A huge run after the IPO âș Back to reality âș Earnings âș 2nd level of reality âș Compression mode. Pinterest has been trading up and down inside this symmetrical triangle range that looks like a giant pin. Very appropriate.
Go to Tackleâs Instagram profile and check Coach Tim analysis on PINS, the Stock of the Week.
Video of the Day: Biggest Mistakes New Traders Make
The coaches explain what they feel are the greatest mistakes made by new traders.
Trading Justice Episode 329: Jack Schwager
In this episode of the Trading Justice Podcast, we welcome Jack Schwager for a discussion on trading, writing and the current state of the markets. Mr. Schwager is most famous for writing one of the most popular trading books of all time âThe New Market Wizardsâ where he interviews some of the greatest traders in the world. Listen to the episode on the player below.
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Originally published at https://tackletrading.com on July 10, 2019.
