Amazon is Awesome

Friday, May 4, 2018

Thurs/Fri Bull Market Runnin'

  • Thursday was a continuation of Wednesday afternoon's sell off after the Federal Reserve made their meeting conclusions. By 11am, everything turned around and took off all the way until close. 
  • Boeing (BA) went down to 319 when I saw it as a screaming buy so I bought 2 Call options with a 320 strike price. I sold too early for 5.50 when BA was at 325 because BA ran up to 330 by the end of the day.
  • Alphabet/Google (GOOGL) fell to 1006 whe I bought 3 calls and it ran up to 1030 and closed at 1026.
  • Apple was continuing it's run up which was fueled Friday morning when it was announced that Warren Buffet's Berkshire Hathaway accumulated 75 million shares in the 1st quarter of 2018. On Friday's market open, Apple was the strongest positive influence in the market and everything rallied throughout the whole day. You could have bought a call on almost anything and done great.
  • Home Depot (HD) opened at 183 when I saw you could buy the 185 strike price calls for .17 and when it hit 186 around lunch time you could have sold those calls for 1.20. So if you bought 10 for a total of $170, you could have sold for $1200.
  • Even Tesla had a great rally to finish around 296.
  • Alphabet hit 1018 within the first few minutes of market open on Friday. I bought 2 1025 calls for 2.90. I sold them when GOOGL hit 1040 for 15, but if I held a couple more hours until 3pm, I could have sold for 25. $594 into $5000!
  • I advised a friend to buy a 1030 strike price on GOOGL. If I knew he bought it, I would have told him to sell for $10 minimum which would have been a 85% profit for one day. Instead, I thought he bought a Boeing option because it was still low when GOOGL started climbing and I told him to sell it around 3.5. He sold the GOOGL option that would have been worth 20 by the end of the day. He did not specify what he owned or I would have told him to sell for a higher price. 
  • Day trading is fun and profitable when you follow the technicals, avoid making emotional trades/non-trades, and follow a discipline.

1 comment:

  1. Nice coverage of the market. Look forward to reading more!

    ReplyDelete

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