Momo Market Roundup, 10/22/2021 — Big Win on AMZN, Going Long on Trump-Mania 

 October 22, 2021

By  spectre_trades

Outstanding Team Effort on AMZN

Teamwork makes the dream work. I’m so proud of my Edumomo members for their collaborative effort on this one. Amazon (AMZN) broke 3,400 and Edumomo member Mo started to notice some put flow. We put our heads together and started making plans.  Started by 3400p for $13 and 3350p for $0.70-$1.00 with target exits on 3400p of 30-50+ and on the 3350p $5 on first leg and eventually $10-$12.    I was off by 0.30 on the first leg on the 3350puts.  This hit 4.70, I alerted I’m selling at 4 and plan to reload at $2.   Boom minutes later, we got a pullback down to $1.80 which positioned us well to ride this with profits for the big payout.

How do we plan this?  In the chart on the right you can see that 3397 level break and the next two levels below.  The watchlist levels told us target 3360 and 3355. AMZN hit all our sell targets and then some.  Last shared sell on 3350p was at $13 — that is 1300%.   If you held all the way to dipped as low as 3340, they peaked at a value of $18. We don’t need to be greedy! We love being consistent and letting the levels plan, enter, and sell stress free.  A lot of members made a lot of money today.

$1000 on the 3350p for $1 could have made you over $10,000 today.  And remember those 3400 puts, they hit $50+ for 500%.

Best of all remember how I’m a Two Hour Trader, I grew my account 20% today in just 2 hours!

Let’s see what opportunities Bezos’s baby gives use next week.  So far its acting weak.

OMG With That Trump-Affiliated Stock …

Yesterday we talked about Digital World Acquisition Company (DWAC). This is a company that means nothing to anyone …  except for the fact that former president Donald Trump just announced a reverse merger with the company and his new social media network, TRUTH. Basically, he did this to bring TRUTH public with less paperwork.

Buoyed by Trump-mania, the stock rocketed from 13 to 50 in one day. Remember my bullish prediction that it could go as high as 60, 80, even 100?

Well, I owe you an apology. My analysis was off. My last watchlist level for DWAC today was 180.  It hit 175 before coasting down to 120 and hovering around 90-100 most of the day. All within the first 40 minutes after open. Two-hour trading, ladies and gentlemen. If you went long and exited right, break out the bubbly.  I suggested members stay away to avoid getting hurt but if holding from yesterday, give it a chance to really pay you.

The sad truth that many are probably dealing with today is the what if, could have, should haves on this stock.  I had 3000 shares I bought yesterday if I recall correctly at under $12.  That is over $300k miss.  I’m bummed, but I can’t be upset, because, I didn’t plan for that.  So if you are in that boat let it go.  It sucks, but I’m not worried, because I know my process yield extraoridnary gains regularly — Imagine having the confidence and skills to not stress about missing trades like this. I want to help you build that.

Eyes on NVDA for Next Week

We talked yesterday about NVIDIA Corporation (NVDA) spiking in the wake of their new Cloud gaming platform reveal. NVDA gapped up and cleared 230 today. It’s holding steady around 226.

We’re positioning 230 calls for next week at $2.50, risking 50%, with the goal of selling for $5 next week. That’s a 50% risk for a chance to make 100%. That’s the essence of trading—balancing risk and reward. NVDA continues to act strong, so we like that bet.

TSLA Hits Our Targets

We predicted 900+ for Tesla (TSLA) this week in the wake of its earnings announcement, and we weren’t disappointed. It dipped in the morning off our 895 watchlist level and then ran right up to 909. It’s continuing to act strong, and we’re still looking for 1,000 next week.  Remember those TSLA 880c I’ve been talking about for $4.  they hit $38!!!   That is what I call great risk/reward on a conviction trade.  My Dad wanted to go long on TSLA so we built a plan last night and placed a GTC order for TSLA 1000 calls exp 11/12 for $4.20.  It filled and now they are at $6.80 at close.  Target sell $20-40

SNAP Gets the Poison Apple

Snap Inc. (SNAP) got wrecked overnight, losing roughly a quarter of its value. We think this is collateral damage from the changes Apple (AAPL) made to its privacy changes. It’s the first sign that we’re seeing those changes echo through the tech ecosystem. Now we wait, looking for SNAP to consolidate. It will probably get some sort of bounce next week, so we’re looking for opportunities to go long.  FB took in on the chin too in sympathy to SNAPs price action.  Many eyes will be watching FB earnings this season.

SPY, All-Time High

The SPY went to all-time highs over 450 and needed some relief. It came in the form of a nice fast flush. We’re looking at this as another opportunity to go long, but we’re also waiting for it to consolidate. Will it go down, or rip even higher? Let’s see what next week brings.  Here is a tip I’ve noticed this year.  When SPY gaps up and pushed into new highs, there is often some sort of profit taking flush to take advantage of.

Student Trade of the Day

BobTheTrain has been putting our process to work. Congratulations on your growth and progess!


Momentum Trader. Technical Chart Analyst. Always on the hunt for 3x or better reward to risk.

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