It was a fabulous day trading, as all US indices finished up and erasing all of my losses from last week. As I suspected last week, the headlines were wrong when stating that pullback was caused by the Delta scare. Comically enough today the headlines read, 'Retail powers through Delta slowdown'. I have to ask, "What slowdown are you referring to"? Walmart and Target, two of the largest retailers in the country had blowout quarters. The pullback and consolidation last week was just a cool off coming off of all time highs, and a very hot summer. Now the S&P and Nasdaq are back to their ATHs and showing signs of strength. However, I do not think we are in the clear just yet.
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My portfolio finished up 4.75% today, and is getting closer to the $1 million goal. It has been a great ride so far with all of my followers and readers, although short. I hope to reach my goal by Christmas.
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$FB +14% (Call)
$SOXL +10.8% (Commons Swing)
$AMZN (Still watching)
$EMKR (hold off)
$TTWO (Hold off)
$SCHD (Long term position)
Last week was mixed, and I am still watching some stocks for entry that triggered last week. Nothing triggered today as it was more or less a straight shot up for most things.
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Since I believe that we will be having a larger consolidation in the next month or two, taking profits on some of your more volatile plays can be beneficial. I'm considering parking the funds into a safer, less volatile dividend ETF, SCHD. It has currently bounced off of support as of Friday. SCHD usually has a good September according to Trend Spider's seasonality charts. I'm not necessarily considering options on this ETF, however it can work. I'm more so looking at it as a place holder for capital until we can buy at a greater discount some of the more volatile plays.
EBON is looking like it might approach the 50MA again, and I'll be putting more money into this one, this time around. Overall totally bearish on this company.
I've renewed and revisited my YUM puts. Seasonality looks dreary for September and October and we are almost at resistance.
GS would be a good to buy puts on and hold into the winter if we can see it reach resistance levels. I'll continue to be patient on this one.
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