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Momo Market Roundup, 10/29/2021 — Knowing When to Walk Away 

 October 29, 2021

By  spectre_trades

I Shouldn't Have Traded Today

I'm exhausted and under the weather today. My gut told me not to trade today, or to trade with a baby account. But I decided to go for it anyway. My head wasn't in the game. The result — I'm down over 5% on the day in the big account.

Yes, even Spectre has bad days. The lesson — listen to your instincts. Part of a winning trading plan is knowing when not to trade. If you're not feeling sound, either physically or mentally, there's no harm in taking a day off. In fact, trading when you feel "off" can do more harm than good. 

The Market Continues to Boom

Microsoft (MSFT), NVIDIA Corp (NVDA), Netflix (NFLX), and Tesla (TSLA) continue to push to new highs. LendingClub Corp (LC) announced incredible earnings and continues to march up. The SPY is almost to that 460 we mentioned.

I took NVDA 300 calls for November 19 as an E/R run up and possible YOLO. I'll sell them when (and if) they surpass $3. I also have my eyes on Decarbonization Plus Acquisition Corp III (DCRC) to potentially be the next mover in the vein of Nikola Corp (NKLA).

TSLA and AMZN gave wild rips/squeezes onto the close.  Hope you were able to take advantage.  

TSLA is gapping in afternoon. Would love to see a gap up over 1150, ideally rip up into 1200+ on Monday into the open would make for a great short opportunity, otherwise, will watch dips on open for continuation.  So far every dip has been bought.

GOOGL I'm expecting to see 3000+ next week.  Watching dips to scoop calls.   

WARNING:  FOMC next week so that may liven things up but also burn premium if bidders/sellers decide to play the waiting game.

Member Trade of the Day

Within 30 minutes of opening, Edumomo member SHRegime was up 26% and decided to take the rest of the day off for his dog's birthday. Congrats, SHRegime—the student bested the teacher today. Tell your dog I said "Happy Birthday!"

Halloween

Stay Safe and Have a Great time let me know what you did and post pics on twitter @spectre_trades.

spectre_trades


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

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