Taco Friday

Update: I took profits today because I owned September $7 calls and this ran up much faster than I expected. I held less than two weeks and made more than 100 percent. For myself, I think it was a "failed" trade because I should have gone farther out on the option chain or bought much shorter-term calls, but then a nearly 20-percent one-day move is hard to predict. I do think a breakout is underway though and will reenter. Longs are in good shape here and I wouldn't be worried unless the breakout fails at the $6 area. If the news flow blasts this up to $10, then this could really run. There is very little resistance up there. I think it will eventually take out the old all-time high.

That's the candle you want to see on a breakout.

Update: Another look via volume profile.