- Tariffs on China went into effect at midnight and things were looking down at open until a great labor report came out at 8:30am. The timing of the labor report was so perfect to offset the tariff news that the market went higher. China placed tariffs on US imports to offset the US tariffs and some industries like soy beans and lobster are crying. Germany wants to eliminate tariffs which is a positive sign for auto makers, but I don't believe it is positive enough when the largest populated country in the world is going to target our vehicles.
- Trading Alphabet looks very similar to last Friday. It opened down and that is where I bought 5 Call Options like last Friday. It felt some resistance around 9:55am before pushing higher where it stayed for the rest of the day. If you didn't make it by 1pm, you were not today as it did little for the rest of the day. I did look at Amazon and Netflix charts to justify the movement of GOOGL.
- There was a small moment of gain that was possible when GOOGL fell below 1153 with less than an hour to go. If you could have bought a Call Option with a strike price of 1152.50 for a dollar,, you could have placed a sell order with a limit of 2 and doubled your money.
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