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Journey to $1 Million, August 6th, 2021


Great day for the markets today as indices across the board finished green with small caps leading the way. One alert fired in the Discord server and we are already making headway! Make sure you join the Discord to stay up to date on the latest trades.


For investors, all eyes on Friday will be fixed on the Labor Department's July jobs report. The print is expected to show a whopping 865,000 jobs came back last month as the unemployment rate fell to the lowest level since March 2020.

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Positions this Week



$LOGI 0% (Calls) -doubled down.

$BTI +15% (Calls; Leaps)

$MA +5.5% (Calls)

$TSM +3.6% (Calls)


New

$AXP +6.75% (Calls)

$ETSY -10% (Calls) - Got hammered yesterday, but getting positioned now could have upside.


Closed

$ABNB -60% (Puts) -Closed as ABNB is making a move toward my upper resistance. Will reevaluate at a later date.


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Alerts


$AXP triggered today after a nice bounce followed by upward price movement from its long term support. Even though I believe this is an excellent entry, I will continue to be diligent as American Express tends to underperform in the next few months. This is a monthly call, so tread carefully and don't forget to take profits.


Similarly to AXP, ETSY bounced off of its support after gaping down almost 10%. I like long term calls here as in the past five years, ETSY has been up 100% of the time in September. It is time to start accumulating calls at support. Even though ETSY bounce off of the support already, it is still down 10%.



My poor ABNB calls died in the slaughter house that is the NYSE. I had always had two levels of resistance, but decided to take a chance at the 50MA. Turns out ABNB decided to blow through it. I believe that it is making a move toward the YTD VWAP. At least, I'll be trying puts again at that level. After a lot of research, I believe ABNB's competition will increase and increase when the big tech boys come to play in the OTA industry.


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New & Adjusted Alerts


My F alert didn't fire as today was the day it expired. I think this one we can manually enter. It bounced perfectly off the lower paralell line. It has been in this tight trend since right after Covid-19 lows. I like monthly calls here, as I don't want a longer term position because the seasonality on Trend Spider shows the worst months for Ford is coming up.



I set an alert to trigger at the 50MA for NVDA. I would buy some puts at the upper resistance and ride them down, however who is actually brave enough to do that? Basically all analysts are a 'buy', and seasonality shows September is 100% over the past half a decade. Obviously, NVDA has been on a tear lately, but I'd feel more comfortable buying calls than buying puts right now. We could get some downward selling pressure like we did last month, and if it reaches the 50MA, it is a good enough time to take a smallish position.


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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.