SKHY is overbought after a huge move; do not buy now, wait for a pullback/mean reversion.

Now if we look at the other version of this, the American version, the SKH, let's see where this is today. I think it's a top performer today. And where are we? There. Oh, it is up another $13.

This this this is uh this has been a beautiful trade with leaps. By the way, back tests are very important, but we just rolled out a new version of uh the back test. This one doesn't have enough history to get a back test, but maybe we can turn it on.

Let's go the confidence model on too. Let's go shorter shorter distance like one hour time frame. Um, again, this was at 156 a few days ago and it's gone up to nearly 200. Wow, it hit 200 today.

199.87. An absolute beast. And it's funny cuz a week ago, I think it was on Wednesday, I made a video, should I buy which memory stock? And this one won the competition. So, it's been a very, very, very, very nice trade.

So, and and by the way, people were freaked out about buying ADRs over accessing the Korean stock exchange, but for me as an options trader, I have to use SKHY. Not the pure form, but don't be scared about ADRs. I've been trading them for 35 years.

If I'm in a tax-free account, is SK Hanik looking overboard or hold steady? I would not. I would not. I like your dog, by the way. Jim Jim 71. Um, I would not chase anything after such a huge move. I mean, this is pretty bonkers.

Let's turn on uh let's turn on mean reversion here for a giggle because that's important to see. Um, these are all the models. Mean reversion has popped this up. Oh, we're not going to have mean reversion work because it doesn't have enough history to calculate.

So, we're going to have to go to the mothership for this one. And then we'll see what means like here. And we'll go and this also might not behave very well because the Korean market is a bit different.

But turn on this and we'll turn on very aggressive. And you'll see here, well, we had big spikes. Let me see. Let me overlay the mean version on top of this chart so it's much easier for me to see both.

So, we had this big mean version here spike when we hit the all-time high, which is nearly 3 million one. And uh that was June 26th. And then we had a bunch of little mean aversion spikes here, here, here.

You can see these guys. Boom, boom, boom, boom, boom. Um, so right now, so when you see a spike like this up here with a red dot, there's a 72% chance it's going to fall from here.

Do not buy, do not add Jim Jim at this level. Anytime things and and remember can turn around pretty fast. When you see the green dots at the bottom, that's when you buy. Red dots at the top, that's when you hedge your sell or hold put.

Now, sometimes there can be a sell off and it can be quite small. So, in this case, we did have a sell off after the mean reversion, but it was teeny. It was like 13%. We might get like this thing has been adding 10 plus% a day for the last so many days.

Let's turn on the daily chart and just to give you an idea of how what a rampage this has been on. And remember there is also a difference between the Korean actually this is the US market will show you a little bit better.

This is the rampage that we're talking about. Absolutely insane massive candles every single day. Constant accumulation. Do not buy here. Um wait wait wait for the mean reversion to happen.

And the mean reversion might be small might not be huge but I would uh be careful here.

Let me see what is a good entry for Heinix after the bird from Charles Cannon. Good question. SK Heinix. A lot of people were very upset they missed that one. Um, a lot of Pomo because of the rampage it's been on.

And let's look at the mothership because that really determines everything. Um, this one's just been a crazy beast. So, we we had our buy and when I look at where this thing would go, let's go back into say 12-hour time frame.

Get a more precise look. Entries real simple. I'd start with level three on the ATR at 1496 Korean one. You can actually set an alert there. I will set an alert too. So, if it does hit this level, I will buy the ADR SKHY.

Um, but I wouldn't chase even though I know memory is going way higher, it's going to go it's going to double from here. Um, I just after such a huge move, I'd be very careful.

Now remember as well the all the Korean stock exchange blew up because that Leopold Dash and Brena guy h and that took us down to here. That would have been a great buy opportunity, but we weren't sure if we were going to come out of the woods, but literally it's up 50% in 40 days.

And I don't like chasing after that. Also, the mean reversion is coming out coming alive again. So, uh, Charles, hold for now and and wait for other things. I do expect some storms in September.

There's lots of good things that are very oversold. So, be careful.