On Thursday, when the market dipped, I sensed a HUGE opportunity. I pounded the table to subscribers to Total ALpha LIVE and got long in the QQQ’s, and we got the bounce I was looking for. But I also foreshadowed a few other trade ideas I liked, and later on in the day I executed. Here’s how they and a few other positions in my portfolio looked on Friday:
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QQQ
As I was planning to hold these over the weekend, for a bigger move there was some other shorter-term trades that I decided to exit on Friday. There is an old trading adage “you can’t go broke taking profits” so here are some of the shorter-term trades I talked about and made last week!
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AMZN
I sold a put spread on Thursday.
AMZN hit the 100 hourly moving average after making a bottom the other day.
With traders targeting the key 100 and 200 hourly moving averages, this gave me a good exit price to get out of my position at.
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RBLX
I sold a put spread here
RBLX hit both the 100 and the 200 hourly moving averages heading higher off of the 13/30 hourly moving average.
I exited my trades on Friday to keep profits heading into the weekend, knowing that I would be holding the QQQ’s.
RBLX is extremely oversold from its IPO price and is one of the stocks Cathie Wood’s ARKK is holding. Thursday was the day I finally wanted to long some JUNK as I told subscribers LIVE.
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SPCE
SPCE has hit my target at the 100 hourly moving average and I went ahead and exited my trade at this level. I bought calls for $1 and exited for a quick 50% gain.
It might be able to run more, but I want to lock in profits in this choppy market.
This was another heavily sold JUNK stock. I felt this one could bounce a bunch so put my chips in, not bad for a day’s work!
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