I bought this Burry play that has a nice setup

20 thg 3, 2023As 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.

20 thg 3, 2023

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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.

22 thg 3, 2023

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

3 thg 4, 2023

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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.

1 thg 5, 2023

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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.

3 thg 5, 2023

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