Hey everyone, Barrie Einarson here with today’s trade ideas. Let’s dive into what makes this trade great, guys! To Subscribe: https://go.trade-ideas.com/SHQ
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I’ve got one I think is really super interesting: SAVA. If you’ve been following the market, you know that Wednesday, Thursday, and this morning have been rough. We’re still down a lot—the Dow is down 700, and the NASDAQ is down 460. But we’ve seen a rally off the lows, down 507, so there’s been a significant bounce. Whether it lasts today, who knows? It will be interesting to see what happens tomorrow.

Now, let’s talk about SAVA. I was discussing this in the pre-market with everyone. Here’s the pre-market action—it was moving down like most stocks. Let me bring up a daily chart for SAVA. Remember, I’m using these Go No Go charts. If you’re interested, come into the room, and I’ll explain what the Go No Go charts are all about. Check out this action from Friday: despite the market being down huge on Thursday and Friday, SAVA had a nice run. They’ve got some news coming, and SAVA closed near the high around 29.50.

This morning, I was very interested and told the guys that if the market can bounce a little, you never know what could happen with SAVA. Here’s your entry, right around the transition from cyan to blue on the Go No Go chart. Look what happened from there: $28 all the way up to $33.

Now, I’ve taken some off because that’s my style of trading. But what the Go No Go charts help me with is staying in trades longer. Until we get a transition back to cyan, I will hold the position. When we see that transition back to cyan coming down, that’s my sign to consider exiting.

What an awesome move on a day where the market is still down a lot. SAVA isn’t moving with the market; it’s trading on its own. This move is distinct from the overall market’s movement. Many of us in the trading room took this trade. Check out my Hompage for more information.

So, guys, I hope the SPY holds on for the rest of the day. Tomorrow, we’ll see if this bounce is real or just a fake. Have a great evening, and we’ll see you tomorrow.