My trades

Closed out of my weeklies. Locked in gains on NVDA and FB weekly calls today. I'll hold NFLX through to next week and see if I can get that pre-earnings move before closing out. I also took the loss on BA this morning. I don't need the hedge anymore.

I should have closed out BA right off the open, but waited a bit too long. The loss was about -530. On the tech side of the trade, FB and NVDA gave me gains of +3111. In terms of closed positions, I'm still looking at a loss of -660 total, but the NFLX position I still have opened is up 1763, so I'm finally looking at green numbers now. That was a rough start for me, not because I did something similar to start the 2nd quarter, but because I felt like I wasn't in sync with the market at all the past 2 weeks.
 
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Added BABA Jul 190 calls and BA Jul wk2 340 puts as a hedge. The risk on the BABA calls was about -1850 vs. the risk on the BA puts at -550. I feel the upside running, but still cautious here in case everything collapse.
 
I'm going to give it another try on tsla. Bought TSLA Jul 330 calls this morning just looking for the bounce back to 350 by early next week.

By the way Jeff, I like your charts, and it is showing the SP500 coming back. I am putting my bets that it breaks 2800 this time around with earnings supporting it. I guess we can technically call it a higher low in that recent drop. It was damn near the previous low, but technically it is +20 pts higher than the previous low. With that holding on, I think we hit another higher high above 2791.47 (we just did that this morning at 2791.70), but I'd like to see a better high possibly above 2800.

I've identified a couple of tech stocks making a nice bounce recently and this is where I'll pick 1-2 long term position (1-2 month hold time).
 
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OI, any thoughts on a break out above 2800 on the SP500?
I see a couple of gap ups the past few days that may need to be filled?

sc
 
lol, looks like Trumps going to help cover those gaps. But I took this morning's opportunity to add to my positions. I have GOOGL Jul wk4 $1200 calls, ADBE Aug $255 calls, and added to tsla Jul 330 calls. Also closed out my BA puts at near breakeven (I was looking at a -75% loss on this trade by the close yesterday).

This morning is turning out to be the time to add to positions. With the lower $18.5k I have left to start this second half 2 weeks ago, I also added to nflx and baba calls leaving me about $800 in cash only. I don't think I've held this much in the market at any time this year.
 
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Yesterday morning to me felt like one of those opportunities to add to positions. Large cap techs were much stronger than I thought with some holding higher throughout the afternoon. The only addition I did yesterday morning that I felt failed was the BABA Jul 190 call. I added 1 more contract to get an avg of $3.94, but with the options down to $2.25 I just don't know if they'll break even by next week. It seems like the trade war sensitive stocks couldn't rebound with traders shuffling into techs from those area. I am hoping that yesterday was more of a 1-2 day dip only especially with earnings picking up tomorrow and into next week. I believe these early reports will make or break the market. We'll really get to see if the SP500 is ready to jump past 2800.

As for yesterday, I didn't do too bad after adding to all my positions in the morning. The only negative I see is that I'm fully invested before earnings actually start so I'm betting on strong reports in the next 1-2 weeks. With unrealized gains in NFLX and GOOGL, I'm sitting at $19.1k so I will need those 2 to hold to keep my afloat.
 
The SP500 has had 5 consecutive closing days above its micro trend (400ma) and yesterday was no different. (Chart below is 5 days, 5 minute candles, 400ma).
7_13_18.png
 
That's an interestingly strong chart, even with yesterday's dip. I took today's bounce to close out weak positions too. Took losses in BABA Jul 190 calls and TSLA Jul 330 calls. It'll give me some buying power to add to techs.

I actually want to set up a JPM trade with earnings tomorrow. We'll see if I can get in today.
 
I also closed out calls at the open today, that I bought yesterday.
I always sell gap up openings because many times they have a tendency to be the high of the day (gap & crap), but not always.
Today's micro trend chart (2 days, 5 minute candles, 400ma, pivot points) below shows the gap up opening.
"If" ("big if"} today's gap fills, the SP500 will decline to the neutral Pivot Point (brown line) and I will re-enter calls.

7_12_18.png
 
jeffalvinson said:
I also closed out calls at the open today, that I bought yesterday.
I always sell gap up openings because many times they have a tendency to be the high of the day (gap & crap), but not always.
Today's micro trend chart (2 days, 5 minute candles, 400ma, pivot points) below shows the gap up opening.
"If" ("big if"} today's gap fills, the SP500 will decline to the neutral Pivot Point (brown line) and I will re-enter calls.
More...

I look at how strong the nasdaq and nasdaq-100 is compared to the dow on whether we close gaps or sell off. So far this year, as long as the nasdaq is leading the odds of holding these gains are very high. I think there were only a handful of times where this wasn't true. Right now, we are looking at nasdaq-100 +.87% vs DOW +.71%. You can't go wrong locking in profits though, because buying yesterday morning would have given you nice profits at the open today.

I used the funds from exiting TSLA and BABA calls to buy JPM Jul 105 calls so far at avg. 2.44 looking for a strong earnings from banks. I am still holding my tech positions though like ADBE, GOOGL, and NFLX (even though NFLX is taking a hit this morning on that UBS downgrade). I expect NFLX to bounce back by end of day. But the strength on GOOG/GOOGL was unexpected and that was the surprise of the day for me.

Closed out some NFLX calls too, it continued to fall and I didn't want to turn this winner into a loser just yet given the $5k initial risk I had on this one. I had to lower my risk on this trade.
 
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