Alpha Delivered!

• Today marked CNBC's Delivering Alpha Conference where we got to see Jim Crammer interview the president's chief economic advisor Larry Kudlow. The FANG erupted up and came down quickly before finding footing and moving higher. They did end the day flat. The banks moved up nicely and Boeing opened up, came down hard and took off again to the upside. 
• I found Boeing has some great morning movement this past week similar to FANG. Boeing was $3 higher in the Premarket trading, fell on its face and took off when the Stochastic indicator was at the bottom. I will be looking forward to trading Boeing next week as Alphabet options will be too expensive for me to mess with. 
  
  
  
  
• Alphabet did a typical Wednesday where it opened up, traded down and moved higher by the afternoon. 
  
  
  
  

Bad Earning Report =Buying Opportunities

• Goldman Sachs had a great earnings report, but went down during Tuesday's trading session. Boeing started up  went down a little and back up a little. Home Depot and Best Buy were strong today as they were lead by positive news from Walmart joining forces with Microsoft to combat Amazon. The Fed Chairman gave a testament to Congress this morning where he was grilled about the treatment of the banks. 
• Netflix subscription miss caused their stock to get over sold in yesterday's after hours session. Alphabet (GOOGL) and Amazon were drug 20 points lower yesterday after the market close which clearly didn't make sense as they both moved up past their recently set all time highs by lunch time. Netflix went up taking back more than half of what it lost yesterday. I would not be surprised if it went down for the rest of the week.
• Pick a Call Option out of the money below the all time high for either Alphabet or Amazon at market open and you would have tripled your money if you had the guts to hold on until noon. Brings me to another learning lesson, but first the chart:
  
• LEARNING LESSON: When one of the FANG stocks has bad news, it will create a buying opportunity for the unrelated others. 

FANG is Struggling but not Dead!

• The Dow Jones was up today which was surprising given how so many people do not like how friendly President Trump was when meeting with Russian President Putin today. Boeing had a nice move upwards today and Amazon opened above it's all time high that was just set on Friday. It moved up sharply and at 3pm when Prime Day starts, they had website issues and it went down along with the rest of FANG. Facebook did hit a new high this morning also.
• Netflix was downgraded again today. They opened to the downside, moved up, but the big news was their 2nd quarter earnings report. It was announced after the market close on Monday and it went down over 50 points due to not increasing their user base as expected along with the expectations of new competition. 
• Alphabet (GOOGL) initially opened down and moved up sharply this morning. After it's peak around 10:20am it went down and further down. There was a nice move upwards in the last half hour after the big drop from Amazon. I do not like holding options over night because you have no control of your contracts in the after hours. Alphabet dropped down below 1180 in the first half hour after close and came up a little. There is no telling what is going to happen tomorrow with the FANG names as it could depend on Amazon's Prime Day success, what is said on the Netflix earnings conference call and if money leaves other FANG names to go into a more stable Alphabet. There were some opportunities using Call Options with GOOGL today that I will illustrate below: 
  
  
  
  
• Bank stocks lead by JP Morgan moved higher on Monday. It was strange how JP Morgan didn't move up after reporting earnings on Friday. It may move even higher on Tuesday if Goldman Sachs produces favorable numbers before the market opens on Tuesday.

Everything Good but Banks Today

• Today the big banks reported earnings before the market opened. Wells Fargo disappointed  Citigroup was lame and JP Morgan was held back by the others despite producing great numbers. Retail stocks were up lead by Home Depot and Best Buy. Boeing shot up, came down to where it started and ran up for the rest of the day. 
  
• The FANG stocks were good with the exception to Netflix like yesterday. Amazon and Alphabet (GOOGL) opened above their all time high that was set yesterday. Amazon was consistent going up for most of the day while Alphabet went down initially and made a turn at 10am to shoot higher. It took another turn about mid day that would cause it to go negative but turn around at 1200 and finished the day positive. There were some nice trades that you could have profited from if you followed the technical indicators as shown on the chart below.
  
• Amazon Prime Day is next week and I would expect to see Amazon and Alphabet go higher on Monday and Tuesday with a possible turn around on Wednesday afternoon. I think Netflix will reverse higher as it seems to do every time someone has something negative to say about them. 

FANG Goes Bang and Boom

• President Trump news from NATO paying more to defense reduced trade issues and drove everything up. Amazon opened above it's all time high and ran further along with other FANG except Netflix which got a downgrade. Credit card companies ran along with defense stocks. Retail stocks were down for the most part.
• Facebook and Microsoft moved to new highs, but if you follow me you know I enjoy trading options on Alphabet (GOOGL) and it ran and ran today. The one minute chart indicated that it was going higher, but everything else indicated that FANG was over bought. I waited for a turn down and never got it  but I did take advantage of what upside was left since I got in so late. I was very leery and took profits and as soon as I saw it was going higher I bought back in. 
  
• I am expecting more upside on Friday  but will be ready to sell to take profit as soon as I see it turn down. When you have lost money waiting on it to continue in your direction you will take profits and buy back in. Don't fall in love with this style as this happens about once every other week. You just want to make sure you are on the right side. 

How to Turn a Down Day Positive

• With President Trump's tariff announcement yesterday afternoon sending most everything down today presented huge buying opportunities if you were ready to move at market open today. 
• Boeing had a huge day yesterday and gets affected big by tariff talk. Today it opened down $6 and shot up immediately to be short lived by 9:40am where it started its turn down. Ten minutes to make a profit is good, but turns ugly if you keep holding expecting it to come back up. Unfortunately I experienced the ugly going from a profit of $450 to a loss of $550 today.
  
• Alphabet (GOOGL) on the other hand gets sold off on trade news even though it doesn't have any direct business that would be affected. It was down from open and took off from there. I bought Calls when I saw it was going up and sold where I thought it peaked on the first 2 peak. I was not in on the 3rd peak that occurred at 10:30am, but did take advantage in the afternoon pop for a small gain over $100.
  
  
  
  
• LEARNING LESSON: When the Option you bought went up big came back to where you bought it, sell it ASAP before it goes down further  

Market Excitement on Tuesday

• The market was up some led by Boeing. Technology stocks were flat most of the day including FANG. Tariff talk sped up in the afternoon into the close. There is always money to be made whether the market goes up or down.
• Alphabet opened up a little but the stochastic lines indicated that it was going up more than what it did. I bought my first set of Call Options when it came back to the open price within the first 5 minutes of market open. I missed my sell mark by $50 a contract as I bought them for 7.10 and sold for 8.18 on 1175 strike option.
  
  
  
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• I bought one more call option with the same strike price for 6.80 when Alphabet went down to 1169 as shown in the illustration and sold with a limit order of 8.50. I stopped looking at Alphabet for the rest of the afternoon.
  
  
• I moved to trading Boeing options because it had a large run up and came back closer to market open with signals pointed that it was going back up. I bought 347.50 strike price Call Options for 2.24 and wanted to sell for 3,but took the first peak at 2.81. I could have gotten 3 if I held but I didn't want the disappointment of not taking a profit when I could.