Three Trades for Thursday

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We put on three new trades today.

Like we discussed on the weekly call, speculative tech is trying to find its footing. 

In the event it does, we’re likely looking at a bounce that is characterized by risk appetite flowing right back into all the usual suspects. 

So today, I positioned for that exact scenario.

First up, XP Inc $XP.

This Brazilian fintech is the cleanest and most bullish setup in all of emerging markets right now.

On the weekly timeframe, XP has been carving out a well-defined reversal base. 

Since last summer, price has chopped sideways in a tight range as buyers chew through overhead supply at a clear shelf of resistance.

Volatility has been extremely compressed since late last year, but today’s big move could mark a shift. 

As the weekly PPO crossover just triggered, the stock registered a decisive breakout, gaining 6% and closing near the highs of day. 

I bought the $XP 3/20 $22 calls for $0.55.

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