MSTR & Micron Big Shorts

Dear Traders,

It was an eventful day in the stock market today.

Micron’s earnings yesterday caused the overall market to spike and gap up overnight. During the premarket, Micron broke its previous all-time high and reached $1250. Intel (INTC) also spiked to $140 near its all-time high.

But our biggest trades today inside Bear Bull Traders community were shorts:

– Shorting Strategy Inc. (formerly MicroStrategy) using Puts
– Shorting Micron 5-minute Opening Range Breakdown from $1240 to $1140

Micron Sold Off Along with SPY and QQQ

5 minutes after the market open, we saw a quick and massive sell-off on both SPY and QQQ with extremely heavy tapes.

I was originally long using my Opening Range Breakout strategy at the open. I managed to took a small partial profit on the initial long before getting stopped out as the markets turned around sharply.

Trading the price action without a bias was crucial this morning. Seeing the massive outflows on SPY and QQQ at the open, we switched the focus to the 5-minute Opening Range Breakdown short on MU. We managed to capture this huge short-selling setup based on the opening range.

Michael Saylor’s Ponzi Scheme Breakdown? Bitcoin Broke Below $60K.

MSTR was another big short we took today. As crypto sell-off continues, MSTR remains one of the stocks in-play that we keep on our watchlist.

This morning, we spotted a huge liquidity signal on Market Atlas: a huge order sitting at $85 when MSTR was trading at $93. This $85 liquidity level exactly ended up being the low-of-day of this session.