There is no game in town better then momentum swing trading, in my very humble opinion. It just has the potential for so much given the proper risk strategy. The play is essentially to buy into the best looking charts in the most momentous stocks and try to hold on to the one or two positions that go beast mode while the rest do nothing/bleed you out. Managing the bleeders is the bulk of the labor.
The other game is intraday scalps in the futures. There were a few opportunities today before we went catatonic. Overall, I was waiting for some aggressive selling but it never quite showed up. Therefore, I put on weekly YOLOs in LULU. The weather is breaking and with the change comes streets literally lined with women in yoga pants and skirts. It feels festive to put a side bet on LULU into the weekly close, especially while we trade in the viscous gap region.
I took another scale in the weekly TSLA calls I bought last week. This is the “one or two” positions I need to not muff to make this whole idea work. I took a solid scale intraday at the first peak, it felt good. The execution was solid and I didn’t sell the whole position—a folly which would have me level 3 frustrated because of how the stock ended the day.
Social media took a burn mostly today, led by YELP which was caught on the receiving end of an FTC document from a few weeks back getting passed around. I am right about at my risk extreme for this position. However, it did not breach. Thus I will have to just tolerate the potential risk of a gap lower tomorrow. This is one of the drawbacks of swing/momentum trading, but you diversify so one loser does not derail you.
I bought some KNDI today once it fell well off its high of the day. I have little else to report. The intermediate timeframe is getting a look I know and love, thus I am pressing my longs into overhead supply a bit more.
In business, not just trading, momentum is your best friend. If you can get a little bit of it, keep it rolling or else you will have to break the static force of friction again.
http://youtu.be/Hw9CzSSk218
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$OESX is running-might test 8
I am just an all around fan of that company/stock. It trades all on its own
AHhh…’Radar LOooove’..nice!
top 5 favorite for every road trip (can you tell I’m always the driver?)
Nice trade with TSLA. Looked at it same time as you, but was still in chicken shit mode from all the bruises prior week.
The 60mins piece on Elon should have been the signal to get in. Just simply didn’t do it. Well played Raul Smuth.
Thanks MB. I didn’t see that piece. This was mostly putting money behind my whole “300 before 200” thesis. I know, pretty simple stuff.