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Journey to $1 Million, August 12th, 2021

No alerts went off in the Discord today, and overall was uneventful - besides the consumer price index that rose. The Labor Department reported Wednesday that its consumer price index rose 5.4% in July from a year earlier, in line with June’s figure and matching the largest jump since August 2008. The government said CPI increased 0.5% on a month-over-month basis, matching a consensus forecast from economists surveyed by Dow Jones.


However, consumer spending, bolstered by the nationwide rollout of vaccines, jumped 11.8% during the three months ended June 30, the second-fastest rate since 1952. Supply chains were effected and the pent up consumer demand was recently unleased.


Market took the news rather well. As the Dow and S&P touched all time highs. Like I have said before, I believe that the inflation is mostly priced in, and I do not think there will be major jitters until the Fed starts raising interest levels.

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Positions this Week


$BTI +6.5% (Calls; Leaps)

$ETSY +37% (Calls)

$EBON +20% (Puts)

$F +9% (Calls)


New

$AMZN (didn't get a fill; set a new alert)

$ABBV (waiting one more day)


Closed

$MA -6% (Calls) - Cut and will roll out.

$AAP +49% (Calls) - Took Profit.



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Alerts Adjusted


$ROKU has pulled back so much from its upper resistance to the lower support of the support (180MA). It looks like an interesting point to get some short/mid term calls. Let's see if we can get a confirmation on the bounce tomorrow.


$SOXL is pulling back the last few days, which is no surprise coming off of all time highs. The leveraged ETF provides great swing plays, and possible huge exposure in the form of LEAPS. I've still got an alert set on the 180MA, waiting for it to pull back further. September usually is a pretty good month for SOXL.


$MA fell and I cut my position at a 6% loss today. I plan to re-enter at the support that it appears to be headed toward.


Last but not least, $AMZN is now on the 180MA. I still haven't gotten the LEAPS that I want. Considering the seasonality looks pretty bad in the upcoming months, I'm certainly in no rush. However, the offer is tempting.


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Disclaimer: The comments opinions and analysis expressed herein are for informational and educational purpose only and should not be considered as individual advice or recommendations. Prostockadvice.com is not responsible or liable in any way for opinions expressed here. This is not meant to be financial advice as we are not a licensed financial advisor.

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