Trading from my car… Here’s clarification on the closed Chase and Swing shorts that coincided with the Market Rollover event which happened fast and while my connectivity was down thanks to the 18 wheeler taking down my Verizon line on my street. Some of the Trade Alerts had operator errors (imagine that – fat fingering on an iPhone 5 while undergoing wifi issues and general anxiety attacks sitting in a running car while waiting for a Verizon service truck). Anyway, I want to clear these up in one place although you already had my price levels from the original entries:
Summary of Open Chases Partially Closed: +156.34% Realized ROI Today
VXX JUN 29 $35C bought when $33.50 Friday – sold 50% at 200D at ~$37 w 2nd 50% at 30W ~$39. Next PT is $40/40.60 also 21Wk. Would love to buy again at $37 PB. This market correction is not done.
QQQ JUN 29 $173P bought when $177 on 6/15 – sold 50% ~$172 with next PT at $170 before losing that.
AAPL JUN 29 $182.50P bought 6/21 when $185 and sold 50% at $183 – next PT $179 to 177.50.
MSFT JUN 29 $100P bought 6/15 were sold 50% for $2.35 not $3.35! Holding balance for $95 PT.
XLF – both positions are wide opened. If you took some off, that’s good for a double but I see lower.
Summary of Open Swings Partially Closed: +291.66% Realized ROI Today
Inadvertently entered partial sales in IWM and HYG Swing Shorts. Neither were sold and I have since removed those partial sales from the portfolio. These positions are Just Starting!
DIA balance of 40% position was closed in Swing account (+500%!) along with 50% of AMD July $14P short (120%). I thought I had an open MU short but I closed it last Friday?!?
Trading Plan From FRIDAY’s Trading Room
Plan for Monday was suppose to be nice and easy as follows, and I truly hope those in the Trading Room Friday remembered and chased this downdraft!
- Short XLE + USO
- Short NVDA NFLX AMZN GOOGL
- Buy JNJ JWN CVS
- Watch for pullback entries SPOT HOG ROKU
- Stay Long Volatility
Highlighted Themes from Friday’s Afternoon Thoughts
I don’t suck at this. EVERY ONE of the Staples I highlighted are higher today except the ONE I didn’t like: EL – 5%!! This is taken word-for-word from Friday’s Note:
- Consumer Staples XLP has oversold value plays I really really like: WBA WMT PM MO HSY MDLZ PEP KHC COTY (not EL) TAP PG MNST CPB CLX CL CVS
- Packaged Food players still working on nice bottoming patterns: KHC GIS CPB HAIN DF
- SEMI’s look sick: AVGO MU ADI MCHP NVDA and we will see if AMD gives up $15.55
Clearly the market pullback was precipitated on Trade War issues as outlined in the Market Thoughts post you never got this morning but will after I send this post, because…I have internet back!
See you in the Trading Room tomorrow!!
-Samantha
Thanks for reading and please consider joining me in the LIVE Trading Room where we work through Value and Momentum trade ideas and set ups every trading day.
At LaDucTrading, Samantha LaDuc leads the analysis, education and trading services. She analyzes price patterns and inter-market relationships across stocks, commodities, currencies and interest rates; develops macro investment themes to identify tactical trading opportunities; and employs strategic technical analysis to deliver high conviction stock, sector and market calls. Through LIVE portfolio-tracking, across multiple time-frames, we offer real-time Trade Alerts via SMS/email that frame the Thesis, Triggers, Time Frames, Trade Set-ups and Option Tactics. Samantha excels in chart pattern recognition, volatility insight with some big-picture macro perspective thrown in.
More Macro: @SamanthaLaDuc Macro-to-Micro: @LaDucTrading
