Last night in After Hours with Option Addict, as a group we collectively dug up a few chart set-ups, voted on them as a group, and selected one to execute as our “Trade of the Week.” We’ll be doing this on a weekly basis from here on out.
The idea was GME, which I executed with the group at the open this morning. I opted for Mar 39 calls, but the stock is ripping here, about to breakout. Great set-up guys, let’s see how quickly it hits our target.
OA
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I’m debating booking a few gains here today. Normally it’s a great sign when your longs hold a gain in situations like this, but the speed of the market at these highs is a concern, and the general tone out there is pretty lousy.
I’m contemplating booking gains in REE, VMEM, RVLT, DANG, MY…possibly SOHU.
I’ll update fills as I fling orders.
OA
Comments »Look, it’s difficult to get back to being fully invested. To an extent, we’re all uncomfortable with uncertainty. However, when I am sitting on a good chunk of unrealized gains, I find it’s easier to press risk. This is what should be done. Manage your risk to win the most when you find yourself winning often. Add to winners when they are winning, so you win more. Subtract from losers when they’re losing to lose less.
I am now holding 15 option positions and 15 short term stock positions. This is not the most invested I’ve been, but it does clearly suggest I am invested in the idea of risk.
Options: BAC, JASO, KBH, LNKD, LULU, MPEL, NOV, RKUS. SODA, SOHU, SPWR, TSL, TWTR, VJET
Stocks: CIMT, DANG, GOGO, GRPN, HEMP, HSOL, KUTV, MY, REE, RENN, RGSE, RVLT, VMEM, XIN, YGE
This is from my active accounts, not including my longer term positions.
I am trying to reduce a couple positions here ahead of the weekend. I’ll let you know what I end up taking off.
Also, After Hours with Option Addict is cancelled for this evening. Have an awesome weekend.
Yours Truly,
OA
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