CrowdStrike rallied 80% in two months. Joe Terranova thinks it has room to run. The charts think Joe Terranova should mind his own f*cking business.
Here's what happened. Stock went up. Man on television said stock could go higher. Retail traders heard man on television and now believe they've discovered alpha in a name that already moved 80% in eight weeks. This is called getting information after everyone who matters already acted on it.
The technical picture shows CrowdStrike trading at levels that would make a momentum chaser weep. RSI cooked. MACD crossed over so many times it looks like a goddamn Spirograph. The April breakout already happened. You missed it. Terranova didn't tell you about it on April 10 when it mattered. He told you now, after the move, when his opinion functions primarily as entertainment for people who still think CNBC segments constitute research.
Nobody who bought in April cares what Joe Terranova thinks in June. They're already up 80%. They scaled out at resistance levels you don't know exist because you're too busy waiting for a guy on TV to validate your entry. The chart doesn't care about fundamentals. The chart doesn't care about cybersecurity tailwinds. The chart cares about supply and demand, and right now demand already showed up and bought everything worth buying two months ago.
Every retail trader watching this segment will now scroll to CrowdStrike, see a stock near all-time highs, and convince themselves they're early. They're not early. They're late. They're buying because someone told them to buy after the move already printed. This is how you end up holding bags while Joe Terranova moves on to his next high-conviction idea that he'll mention after it's already up 60%.
The only thing still running is your account balance, and it's running in the wrong direction.
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