Square Inc. Class A (NYSE:SQ)

Strategy Session March 13th, 2018

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  • grcjr: $SQ no current position. I do believe they will have a good quarter report for the holiday season. I'm impressed by the increase in the number of retailers I use that have $SQ.
  • Gary: ...
    COTD: $NVDA – time to short this high flier. Bullish comments by analysts...didn’t help the bulls.
    $SPX – still holding up...but broader market is getting tired. FOMC hiked .25 bps. No surprise. No reaction.
    $DJI – power m ...
  • woodman: $SQ firming up at the 50 day. Probably more work to do but for the watch list.
  • DrScience: @woodman $SQ Still has 75 days to next earnings release, so a lot can happen. Stock needs to move above $40, but money continues to flow out of the stock -- not giving the bulls much comfort.
  • woodman: @DrScience $SQ - I hear you, Doc. I have no position, but I do watch it.
  • DAN: @Aragorn $SQ Thanks Jay. I appreciat that. Nice trading -- covered call strategy worked great.
  • Wolf: $SQ Up 1.00, Back above week high in premarket trading. Sold shares, long 12/8 40 calls. Will short if it rolls over.
  • Aragorn: $SQ - Dan I wanted to say on SQ you gave very solid guidance when it was at the highs. I am still holding 100 shares from the 17 area I got in but I did sell some calls and shares near the high area
  • phgruver: BTC is the standard acronym for Bitcoin, just as USD and GBP refer to the dollar and the pound. It is not a tradable ticker. There are several bitcoin exchanges, such as $GBTC and payment processors such as $SQ and $PYPL that handle bitcoin transactions.
  • debeers: $PYPL-Thanks to Woodman, I decided to investigate $PYPL and delve into the company and found that there were several elements in $PYPL I liked better than $SQ. First, it actually makes money. I admit it: with the exception of biotechs, I want everything i own to be profitable BEFORE I BUY IT. I know, that's really old fashioned but $PYPL had a 12.6% margin. Its only been in business 1 year but the confidence in the insti holders is such that the company boasts an 82% insti base. There's the "who's behind you" that DAN is always talking about. I would have expected a huge short interest considering its growth but its less than 3%. Unlike others, I don't care for the heart-stopping glee of a huge cover ratio with the exception of some of the retailers I have dealt with for a long, long time. Quality through and through--that's $PYPL.
  • woodman: @debeers $PYPL $SQ - thanks for the info, debeers. I have a long term approach with $PYPL, though, with this pullback, I did just trade around my core position.
  • debeers: @woodman $PYPL $SQ -I am not saying $SQ won't make you coin. I AM saying that $PYPL's pullback to me was a present since i hadn't previously owned it. After i sold Global Payments, i was looking for something i thought had the same potential and I believe i found it, with your help, in $PYPL.
  • issues: Trying to decide which chart looks better $FSLR or $SEDG? I think it's FSLR but I don't really want to plant the flag on the top of the mountain. Holding 1/2 position on SEDG but NP on FSLR. Added to $ANET $SQ $SPR (4th try for a BO) $YY $ESPR. Cramer had good words for the CEO of ANET that helped bring the stock up. Thoughts on the chart of $CRM? I was wishing I had bought some but didn't after the big pop up yesterday. Wondering if I am too late?
  • spmeyers: @issues $FSLR $SEDG $ANET $SQ $SPR $YY $ESPR $CRM too late for me on FSLR; waiting for more volume on SEDG
  • issues: @spmeyers $FSLR $SEDG $ANET $SQ $SPR $YY $ESPR $CRM Thanks!
  • DrScience: $SQ CEO JackDorsey, taking a cue from TICOTUS, tweets that bitcoin is coming to 'a Lot More' Square users. Stock up a buck and a half.
  • gmj: @DrScience $SQ added to my position this AM on the bounce will raise stops on the way.
  • Junior1: @DrScience $SQ Had to look up TICOTUS. lol.
  • DrScience: $SQ taking back all it gave up yesterday. Now, struggling at R1 for second time today.
  • DAN: ...
    $SQ – off 50-day MA
    $ANET – off 50-day MA
    $PYPL – off 50-day MA
    $WUBA – broke through 50-day MA, but probably has a couple of bucks left in it.
    $NVDA – broken stock, but it is being defended. Might work...as long as it ...
  • rachel: ...
    COTD: $FSLR – squeezing. But wait for breakout. Not much reward for anticipating..
    $SPX – Look at this like a volatility squeeze/breakout. It’s in Phase 2 now. This is a weak market. “Buy the dip” has transitioned ...
  • DAN: $LRCX $NVDA $COHR $SQ $PYPL $CGNX $DVMT These growth stocks are all lower this morning. With the market so strong, any stock that isn't getting some love should be looked at very suspiciously. If there was current demand for the stock, it should be moving higher today. If it's not...it's a problem.
  • Hank1: $AMZN $FB $TECL $V $NVDA $SQ $GOOGL .... Not today, but opportunities in the making i think. Come to papa.
  • stox: @DAN $LRCX $NVDA $COHR $SQ $PYPL $CGNX $DVMT Dan would PAYC, mentioned in the weekend update, fit into this group as well?
  • DAN: @stox $LRCX $NVDA $COHR $SQ $PYPL $CGNX $DVMT Yeah, stox. It does. Anything can happen this afternoon. Many lines of support are being tested. A rebound this afternoon would be a positive sign...but a lack of a rebound (and I don't see any right now) would be a real negative development. Reminder to everyone: The "growth stock list" is a list of stocks with strong revenue/EPS results over the last year, and with good, uptrending and charts that reveal institutional sponsorship. The technical picture can change any time. I'm not issuing "buy" and "sell" instructions on those stocks. They are "ideas"... A significant number of our members aren't really "swing" traders. They want to be in the type of stocks I just described without having to actively trade them.
  • DrScience: $SQ bouncing at the 50 DMA. Eleven days up and 5 days down hopefully shook out all the weak crypto-hands and related Tech sell-off. We shall see...
  • phgruver: @ROSEY $BAC $SCHW $MA $V #Strong #BreakingOut #all $MA and $V belong with $SQ and $PYPL as payments processing companies. They aren't doing so well right now....
  • woodman: #Rotation - $ALGN $PYPL $SQ $V $MA $ISRG $DVMT $CGNX $IPGP $SEDG $MU $LRCX $ICHR.... Seeing a pattern among the 2017 high fliers?
  • bRobert: @woodman $ALGN $PYPL $SQ $V $MA $ISRG $DVMT $CGNX $IPGP $SEDG $MU $LRCX $ICHR #Rotation You eventually come back for the good kids if you accidentally left them at the rest stop.
  • woodman: @bRobert $ALGN $PYPL $SQ $V $MA $ISRG $DVMT $CGNX $IPGP $SEDG $MU $LRCX $ICHR #Rotation - the key is to have enough gas in the tank to make the trip back to get them.
  • issues: @woodman $ALGN $PYPL $SQ $V $MA $ISRG $DVMT $CGNX $IPGP $SEDG $MU $LRCX $ICHR #Rotation Yes I see all the great stocks dropping on this rotation. But at a certain point the rotation will rotate back, right? "Hope" isn't a good strategy but it is a strategy that's the basis of all investing...
  • woodman: @issues $ALGN $PYPL $SQ $V $MA $ISRG $DVMT $CGNX $IPGP $SEDG $MU $LRCX $ICHR #Rotation - I expect them to come back within a day or a year or anything in between or after.
  • issues: @woodman $ALGN $PYPL $SQ $V $MA $ISRG $DVMT $CGNX $IPGP $SEDG $MU $LRCX $ICHR #Rotation Woodie are you hitting that holiday egg nog a little too soon?
  • bRobert: @issues $ALGN $PYPL $SQ $V $MA $ISRG $DVMT $CGNX $IPGP $SEDG $MU $LRCX $ICHR #Rotation the plan is to have ride these great stocks up. Take partial profits along the way. and ultimately be stopped out for terrific . Many of these had obscene runs. Now. Rinse repeat at great entry points.
  • Sluggo: @woodman $ALGN $PYPL $SQ $V $MA $ISRG $DVMT $CGNX $IPGP $SEDG $MU $LRCX $ICHR #Rotation Woodman, you can see my posts last week and I did indeed own a lot of the high fliers but from a lower point. I do not panic, but I gradually sold them over a few days and actually took more profits the weeks before. Dan's #1 rule don't lose your money. Took a minor loss on the whole package, but nothing to hurt me. You are right and who wants to follow all these high fliers down when they can watch from the sidelines and rejoin them later? In other words, I agree with your posts. How long? day, month, year? Why follow the roller coaster down?
  • bnnybklyn: @woodman $ALGN $PYPL $SQ $V $MA $ISRG $DVMT $CGNX $IPGP $SEDG $MU $LRCX $ICHR #Rotation What he said...
  • Ottawagreg: $ISRG $MZOR These are/were major pieces in my folio. I am razor thin in getting stopped out on isrg and crashed and burned on mazor early in the day, only to see mazor rebound. I want to re-buy mazor but it feels like a bull trap, only to watch it fall more tomorrow. what crappy start to the week. i hit a home run on $SQ but that profit is gone after today. over nine years without drinking alcohol. today might be a good day to find a bottle of Glenlivet, just saying. update: ISRG just closed. SOB. update: $EXAS closed out. waiting on that to breakout for six weeks or more.
  • singlemalt: @ROSEY $SMPL $SQ $CROX Hi Rosey! I’m quite sorry it took me so long to notice your post(s). I'm still getting used to the forum, and how best to use it, check it., etc At first I was getting so much I set up an email folder to filter them into, but I’d forget to check it. I now have a spot dedicated for it on one of my monitors. However, to answer your flattering question.... nope. Thought I'd add a little non-author like flavor to my reply. I do like to read though, and often use bigger words than I’m qualified to, or even sometimes know :). But thank you for thinking I possibly could be!
  • rachel: ...
    $SPX – Gap and crap. Looks like a blowoff top to me. Be VERY VERY careful about buying stocks now. VERY careful. Be careful about shorting. This is still a December “chase performance” market. Trading is hard. But it’s ...
  • ROSEY: @singlemalt $SMPL $SQ $CROX To e sure my comment in the past is understood....."I enjoyed your after hours post and thank you. Do I detect a writing talent?"
  • Gary: ...
    Notes: Volatile! If Tax Reform (and positive market reaction), then we can consider the inverse H&S as the start of a new bull market. Trump/Flynn – all a mystery that will take a long, agonizing time to play out. But the little talked abo ...
  • singlemalt: @jan2138 $SMPL $SQ $CROX My Dad was born in 1924 at 4905 Ave G. in Austin, TX. That was 4 lots N of 45th St, which was the city limits at the time. (So I was told). That's also basically downtown now, and you could easily walk to UT. Anyway, his stor ...
  • grcjr: $SQ just watching. Currently trying to hold at the 20dma.
  • bsafriet: $SQ Test of Monday’s low of 39.50 failed. New low at $38.56
  • Vehid: Now we know somebody knew something! @11/13/2017 DrScience :$SQ Options active in DEC 35 Puts (40K) this morning. Looks like some were rolled from NOV 35's, so one big trader is confident, hoping he can get stock on the cheap... if it ever pulls back from a new all-time high.
  • Reif99: Lot of big red candles on the watchlist today. $NVDA, $LRCX, $PYPL, $BABA, $ANET, $SQ, $YY etc.
  • DrScience: @Vehid $SQ Don't ya' just love it when a plan comes together. Trader has the tiger by the tail. Now... What to do with it? I'd say grab on and pull with him. Sell DEC 35 Puts @ .50 and hold tight for a test of the 50 DMA.
  • ab3250: $SQ - shorting the snot out of the bottomless stock.
  • singlemalt: ...
    Since a book was recently mentioned, if you’re looking for an enjoyable trading book, not a training aid per se, try Marty Schwartz’s, Pit Bull. I laughed out loud several times, though it’s not directly meant to be humorous throug ...
  • jan2138: @singlemalt $SMPL $SQ $CROX I'd like to hear some of the "walk miles uphill through the snow to school stories." I'm older and have a few of my own. My Dad used to say that on the way to school, he had to deal with snakes.
  • ROSEY: @singlemalt $SMPL $SQ $CROX Do i detect an author/writer?
  • DAN: Good morning. Just a very quick note today.

    Stocks are set to open a bit higher today as stocks just seem to be melting higher. No big moves (other than $ROKU), but no big selloffs either (other than $SQ). There is a LOT of chatter in the media a ...
  • Henry: $SQ is having it's bounce, np
  • DrScience: $SQ Sold my long DEC 45 Puts @ 5.90 on the open. Stock getting an oversold bounce. We'll see which direction it wants to go from here.
  • Vehid: $SQ on long side since open
  • woodman: @Vehid $SQ - I mentioned yesterday that the 21dEMA has been a good spot for this one. I did sell about half of mine yesterday. I had nearly a double in it before the carnage yesterday. So, I may have to chase back what I sold which I have not yet done.
  • Ottawagreg: $SQ I bought in at $39.87. watching it closely. maybe set SL at $42 or 42.50 and let it do what it wants too.
  • Vehid: @woodman $SQ I sold yesterday too. But started a position and added along the uptrend
  • woodman: @Vehid $SQ - looks like you did well. Nice job. I wanted to see the magnitude of this bounce.
  • Vehid: @woodman $SQ well I was under water yesterday and did not sell as early as I should have done it. Not expecting too much for today, just some short coverage. Highly doubt that new buyers will show up
  • woodman: @Vehid $SQ - truth be told, I was hoping today would ultimately be Day 2 down.
  • grcjr: $SQ - nice bounce this morning on better than average volume although may not be up to yesterday's volume. I did nibble small near the open to keep it on my watch but expect that $SQ will need to consolidate, potentially for quite some time. Today's action around the 20dma is nice and we might know by Friday if the 20dma will hold. Letting the 50dma catch up might be better. I do see the $SQ hardware at an increasing number of locations. I believe the holiday quarter will be good. It appears to be THE method for a number of the festival kinds of sales where cell phone access for credit card sales is the only way to go.
  • rj7150: $SQ I'm out, so much for my long term hold and not paying taxes.
  • DAN: ...
    Similarly, if you're looking at the chart and all you see is a parabolic move (look at $SQ, $ANET for two examples), then look behind you and all you see is buying activity that pushed the stock higher.

    And what does all that buying activity crea ...
  • DrScience: @rj7150 $SQ TD Ameritrade has your back on the long-term hold and taxes fronts...

    Open letter to Congress

    “TD Ameritrade, Inc., on behalf of our 11 million client accounts holding $1.1 trillion in assets, is writing to note our strong opposi ...
  • gig1: @DAN $SQ $ANET $BLD Excellent note Dan. Very helpful in defining your role and the value you deliver which is tremendous as a teacher.
  • DAN: @gig1 $SQ $ANET $BLD Thanks gig1. It's important that people see what I'm trying to do here. I'm here for you. All of you. If anyone needs something, or has questions, requests, or feedback, I do consider it. All of it. I may not be able to do what is requested for various reasons...but if I can, I will. Always.
  • ascutia833sunset: @DAN $SQ $ANET $BLD Great comment Dan, I've been a member going on 2 yrs at SMM, I've applied your trading process and using the trading rules you provided. I can honestly say my trading after about six months of listening to your strategy sessions ...
  • DAN: @ascutia833sunset $SQ $ANET $BLD Thanks for that feedback, ascutia833sunset. That's really gratifying to hear...very glad that you're putting some of the things we're doing here to work. That's what gets me up early each day. Congrats on doing so well!! Dan
  • spmeyers: @DAN $SQ $ANET $BLD good stuff; my main gripe with the Growth Stock list is that it's weighted toward large or mid caps; I'd like to see more small caps, which are more my trading style
  • Vehid: Closed $SQ. Looking to enter again
  • vblegacy: @DAN $SQ $ANET $BLD Thanks, these are words that I needed to hear.
    Thought provoking post. You've definitely helped me be a better technical trader. I disagree slightly that entry is "everything" though. Price entry is certainly critical but not everything all of the time. Buying your ...
  • bizmodal: @Vehid $SQ I think the company’s banking venture is catching on too.
  • phgruver: $SQ premarket is down significantly. At 8am it's down $2.21, or 4.56%. That's enough to trigger some stops at the open, so check your stops, and make sure you're comfortable with them. At this point, it could go either way, so be careful.
  • BocaRick: @phgruver $SQ #BTIG Res. downgrades to SELL with a PT of $30
  • phgruver: @BocaRick $SQ #BTIG I see, but then they were only "neutral" all the way up. :-)
  • bnnybklyn: @phgruver $SQ #BTIG now down only 3%
  • Ottawagreg: @phgruver $SQ #BTIG I see that I am about to be stopped out on the final third of my position on $SQ. It was a very nice run. Perhaps it will find a new base in December and start upward trend again
  • 1winkie: ...
    $FNKO - Funko Inc. was started with a Buy rating and assigned a $12 price objective (versus an $8.20 close) at Merrill Lynch. Jefferies started Funko as Buy with a $13 price target. SunTrust Robinson Humphrey and Stifel each started it as Buy with ...
  • Wolf: @phgruver $SQ Holding small position and 12/1 48 puts. If it bounces back near 50, will add to puts.
  • DAN: @phgruver $SQ Please see my morning note. Square has a LOT of risk from here. It's been parabolic for a while, on very very high volume. That's a textbook blowoff top.
  • DAN: @1winkie $ACM $CIEN $AQUA $FNKO $GSK $SQ $ALNA $ALTR $BWLD $DLPH Great post, 1winkie. Thanks for this great information. You can write my morning note anytime you want. ;-) Dan
  • phgruver: @DAN $SQ My stop got hit, so I'm out -- with an OK profit. Next ...?
  • DAN: $SQ is attracting some buyers, but I still believe that the stock is going to have a tough time moving to new highs.
  • DrScience: @DAN $SQ I'm hoping that's the case for a few months. This stock has soooooo overrun my expectations. My position P&L has actually gone up, and I don't even have a short position (but, I may be soon).
  • DAN: @DrScience $SQ Strong stock...but I am short now.
  • DrScience: @DAN $SQ Yes, as well. Amazingly holding the 8 EMA, but will add on break below, or if $47 proves resistance again.
  • DAN: $SQ -- big selling order a minute ago. Stock has broken $45.
  • DAN: $SQ -- this stock could fall down to $40, and still only be back to where it was a couple of weeks ago. $40 is my target for covering...or at least taking some profits.
  • Vehid: @DAN $SQ I guess "it cannot be worse than this"
  • DrScience: $SQ $ROKU A tale of two stocks, both moving 11%... in opposite directions. In the bigger picture, the overall market seems to be heading in the direction of $SQ. Up/Down volumes definitely in submarine mode. Advance/Decline line below sea level.
  • DAN: @DrScience $SQ $ROKU I agree. No real follow through on ROKU this morning. Not pulling back much...but not moving higher either.
  • Vehid: Bougth some $SQ at $43.62 stop at $42.9
  • spmeyers: @DAN $SQ I can see the logic for shorting this, and I've often shorted strong stocks when they drop on volume (with mixed results). But if we're mainly looking to buy stocks in the upper right, shouldn't we focus on short stocks that are in the lower right? Lately I've been thinking about shorts by turning the chart upside down.
  • phgruver: @spmeyers $SQ ...not @Dan, but when a stock drops like a brick on high volume, that's a short. Institutions are dumping, well at least reducing, in a hurry. No telling where the bottom will be, but there's support at 40, and again a bit below 35.
  • ab3250: @phgruver $SQ - stocks in the lower right corner have already gone down.
  • ascutia833sunset: $SQ, sold off a portion of my position after the stock was downgraded on valuation Bitcoin-fueled run-up rise overdone.
  • Henry: @Vehid $SQ If this closes near the lows, it's going lower on day 2
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Stock Price $USD 57.95
Change 6.17%
Volume 14,629,400

Square Inc is engaged in providing solution from payments and point-of-sale services to financial services and marketing services. It provides a free software app with its hardware to turn mobile devices into powerful POS solutions in minutes.

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