Yesterday, SPCX went public and jumped 19.22% right out of the gate.
When I see a move like that, my first reaction isnāt āI need to jump in.ā
Itās more like, āOkay, I need to be careful here.ā
It ran up near 175, then pulled back to around 160, which tells me some people are already taking profits.
So for me, there are two levels Iām watching before even thinking about buying:
First, can it hold around 160?
If it holds there, that means the money hasnāt fully left yet.
Second, can it reclaim the 163-165 area?
If it canāt, then yesterdayās move looks more like a hype spike followed by a cooldown.
My take:
SPCX clearly has short-term attention, but this is no longer the cleanest place to chase.
Right now, Iād rather watch it than get emotional.
The worst thing isnāt missing the move.
The worst thing is chasing after a 19% day and getting humbled by the market the next morning.
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