No morning report today. There are more pressing matters like these balmy winds blowing in from the south.
This week has been astounding. We leaned bearish into Monday, and I captured a handsome lot of NASDAQs on the way down.
Then Tuesday came, and the markets began whispering to me about reversal.
it appears NAS setting up for a hard rally $nq_f
— RAUL (@IndexModel) May 1, 2018
I had done all my homework. I was prepared to pivot. I owe a ton of credit to Jeff Kohler aka The Option Addict for teaching what I call the ‘divergent index’ trade. He taught it during one of his many workshops here at iBankCoin. Anyhow, I grabbed ahold of the long side Tuesday around lunch and rode it right into settlement. Right into Apple earnings and the NASDAQ spike that followed.
Fuck. I nearly threw up from the gains.
By the way, if you aren’t following me on Twitter (@indexmodel) you are missing out on action items I highlight during the trading day. I have spent the last few months reining in my tweets, to keep them as relevant and actionable as possible. If I’ve ever added value to your trading day, please consider giving me a shout out on Twitter. I need to spread my brand of hustle and positivity and not putting other investors down.
Wednesday I nailed the 6666 trade and brought in about 40 more NASDAQs.
Thursday, more of the same. Nailing key price levels and taking in NASDAQs.
Meanwhile my buy-and-hold portfolio was destroyed. Three of my positions are down big on the week, $MTCH $TSLA and $SNAP. I never expect much from Snapchat, and now Match is up against Facebook too. I still have to fully assess the Match/Facebook/Snapchat situation before taking any action (buying more, cutting the losses).
As for Tesla, it is suffice to say everyone is completely unhinged on both sides of this stock. I remain permanently bullish. It used to upset me to see people trash talking Our Leader (all Praise and Glory to Elon!) and I would defend His name. These days I just stay quiet and continue accumulating shares.
On the hustle front, I made some powerful connections down in Detroit at the Fintech Association meeting. Sometimes I wonder if I am selling myself short by just trading my own accounts and tossing ham around on the interwebs. My understanding of the Fintech world is much deeper than most. I debate returning to the fray.
But then again, Mothership is looking better than ever. I moved nine arborvitaes, installed three smoke bushes, and I have laid the groundwork for a regulation size bocci court accented with a three tier pineapple fountain. Where I live is becoming less house, more office by the day. It makes going to work downtown or in Birmingham a bit less appealing.
That’s all I have to say. The week flew by and many good things happened. Some bad too. I wish only the good to you and your people this lovely May weekend.
May the fourth be with all my sci-fi nerds. Happy Cinco de Mayo to my fellow mexi-degenerates. And GOD BLESS AMERICA.Comments »