With the Fed meeting ending today, stocks have a tendency of being flat or down. Before the market opened, the 10 year Treasury Note moved above 3% which is a positive sign for banks and JP Morgan moved higher at open. It did trade lower from there but it is a positive sign for the banks over the next couple of days which should lead the market higher.
Boeing opened down from Tuesday's close and pointed to moving up from open until about 10:40am. At that point it went down for most of the day. I prefer to make money quick and would have preferred to buy Call Options on Boeing and be done before 11am.
Alphabet opened up from 16 from where it closed on Tuesday due to news that Google is going to censor their search engine to be allowed to operate in China. From history I have found that when it opens higher like this, it will try to return to where it closed the prior day before going higher. Buying Puts near open would have been scary but profitable. Buying Calls at 2:10pm would be a great deal also today.
Unfortunately I did not trade Boeing today and didn't trade Alphabet correctly. I was mad at 2:10pm, but didn't panic as I knew it was going back up to 1236 by the afternoon. I escaped the day with a loss, but not as bad as if I sold at the worst time. I write this blog daily in hopes that it helps someone but more importantly I learn how to be better because I am confident that you can make money in thousands every day if you trade properly based on technical indicators and knowing tendencies.
Elon Musk and Tesla had a great conference call after releasing earnings from the second quarter this afternoon. The stock shot up after hours over 30 points. I expect to see it come down in the first 10 minutes and shoot higher for most of the day tomorrow. I will trade it if the technical indicators make sense.
Boeing opened down from Tuesday's close and pointed to moving up from open until about 10:40am. At that point it went down for most of the day. I prefer to make money quick and would have preferred to buy Call Options on Boeing and be done before 11am.
Alphabet opened up from 16 from where it closed on Tuesday due to news that Google is going to censor their search engine to be allowed to operate in China. From history I have found that when it opens higher like this, it will try to return to where it closed the prior day before going higher. Buying Puts near open would have been scary but profitable. Buying Calls at 2:10pm would be a great deal also today.
Unfortunately I did not trade Boeing today and didn't trade Alphabet correctly. I was mad at 2:10pm, but didn't panic as I knew it was going back up to 1236 by the afternoon. I escaped the day with a loss, but not as bad as if I sold at the worst time. I write this blog daily in hopes that it helps someone but more importantly I learn how to be better because I am confident that you can make money in thousands every day if you trade properly based on technical indicators and knowing tendencies.
Elon Musk and Tesla had a great conference call after releasing earnings from the second quarter this afternoon. The stock shot up after hours over 30 points. I expect to see it come down in the first 10 minutes and shoot higher for most of the day tomorrow. I will trade it if the technical indicators make sense.
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