QQQ - Bulls Taking Control - Trading Today
QQQ is looking like the bulls are taking control here, which is not good for my short positions. Key level has been 448 for bulls and if we open above that out of the gate I will be considering closing my trades and taking my loss.
I may flip on the backside and look to sell some short term PUTSs expiring today as I really do not want to hold a short PUT position over the weekend with all the uncertainty going on.
Just a heads up for the daily trading.
In addition I am interested in a few stocks:
Dutch Brothers Coffee (BROS):
Love me some coffee and this one seems to be oversold here. Very range bound chart, but what is interesting about it is that every time DBC sells off it recovers. So looking at selling some Puts here to step in and or you can buy outright for a target of 39. Stop at $23.75.
Facebook (META):
With the market down 10% off its highs, META is only slightly down and now it is approaching the 520 level and taking out the high.
So if META is strong during bad times, if we get a market rally I would expect META to do very very well, so this is another on my list of stocks to trade today.
Universal Display (OLED)
Another quality growth company selling off on earnings, so I am looking to take a position here as well either selling Puts to step in, or buying outright.
Other than META these are all longer term position trades I am looking to sell in the future. These are not part of my core porfolio which does not turn over very frequently.
As for the trade, well you win some you lose some and as long as your winners are bigger than your losers you will make money!!! Again I will see where we are at the open and decide at that time. Not going to close out or cover a trade pre-market.
I may flip on the backside and look to sell some short term PUTSs expiring today as I really do not want to hold a short PUT position over the weekend with all the uncertainty going on.
Just a heads up for the daily trading.
In addition I am interested in a few stocks:
Dutch Brothers Coffee (BROS):
Love me some coffee and this one seems to be oversold here. Very range bound chart, but what is interesting about it is that every time DBC sells off it recovers. So looking at selling some Puts here to step in and or you can buy outright for a target of 39. Stop at $23.75.
Facebook (META):
With the market down 10% off its highs, META is only slightly down and now it is approaching the 520 level and taking out the high.
So if META is strong during bad times, if we get a market rally I would expect META to do very very well, so this is another on my list of stocks to trade today.
Universal Display (OLED)
Another quality growth company selling off on earnings, so I am looking to take a position here as well either selling Puts to step in, or buying outright.
Other than META these are all longer term position trades I am looking to sell in the future. These are not part of my core porfolio which does not turn over very frequently.
As for the trade, well you win some you lose some and as long as your winners are bigger than your losers you will make money!!! Again I will see where we are at the open and decide at that time. Not going to close out or cover a trade pre-market.
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