We Were Wrong About SPY, But We Killed It Anyway
What a day to start December. I was dead wrong about more upside in the market. SPY dipped and ran right into the 464 level on our watchlist, but it couldn't follow through.
Fortunately, we were prepared. One of the lessons in the Two-Hour Trader 12 Week Accelerator Program (coming soon!) teaches this exact trade setup.
We took SPY 462 puts at around $1.60 and watched them run to $11 when it hit — you guessed it — the 350 on our watchlist at the close.
Boom. If you have access to the Edumomo Watchlist, are you making the most of the levels to plan your trades? Because they're the closest thing we have to magic in this boring old world.
And we weren't even done. In the afternoon, we planed a trade on the 355 level, to be tested and targeting 350 into the close. The 343 puts we bought shot from $3.30 to $6 in a space of twenty minutes! That's how you stick the landing.
So Many Fantastic Trades Today
What a team effort. The best part of the Edumomo crew is how we collaborate, helping each other plan and execute monster trades. We were firing on all cylinders today, taking down trade after trade. Here are some of the highlights:
- Apple (AAPL), short at 169.
- Moderna (MRNA), short at 330 after a pop in the afternoon.
- Tesla (TSLA), short at 1150.
- Amazon (AMZN) short at 3556 and again at the 3525 break.
That's just a partial list. Again, what a way to start December ...
For tomorrow, we need to wait and see. It could gap up or down. But after a day like this, I have no doubt that the Edumomo family is ready for anything.
Member Trade of the Day
Edumomo member DannyM grew his account 7% on just one trade — those sick SPY 464 puts. Get this — he was bummed that he didn't stay in until the end of the day for double the profit ... but 7% in one day? On one trade? Those are rockstar numbers. That's the power of the perfect balance of risk and reward.