A Quantum Coil

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I can’t remember the last time I’ve seen the market set up this good.

Breadth is at highs and sentiment at lows. It’s getting harder and harder to come by a bearish data point.

This week we booked some big winners in Asia with $BABA, $BIDU, and $CPNG.

I wanted to redeploy some of those gains into fresh trades. We’ve got solid exposure to international equities, but we’re lighter than usual on US growth and speculative.

So today I didn’t think twice when I saw one of our favorite hot stocks putting in a wide green candle at the apex of a coil.

Rigetti Computing $RGTI surged today, up almost 9%. The stock has been chopping in a super tight range for almost two months, with the squeeze indicator at historic lows.

That level of compression usually precedes explosive moves.

Here’s what I did:

I bought the $RGTI 10/17 $20 calls for $0.59.

Some bullish follow-through on today’s move could earn us a swift double in this one.