You Can't Win Them All

Say this for the market ... when you're getting cocky, it lets you know. I planned not to trade today. My mental alarm bells told me not to trade.

Well ... I didn't listen. I decided to trade today, and I ended up over 10% down for the day. Bad sizing, revenge trading, poor judgment ... I was just making all the old mistakes.  Don't get me wrong, my planned trades were good, but taking trades that were not planned, and with huge size and not following process bit me hard.  This where recognizing if you have mental discipline or if you are tired can make the world of difference in your balance sheet.  My apologies to all of you for being a bad example today.

Today's Action

Today was the kind of day in the market where you had to be selective about your entries. Otherwise, it was chop city. 

Despite me being completely off my game, the team had some great ideas and some great trades, including going long on the SPY off 450. Overall we need to see how the tomorrow plays out, but I think a rally and a gap up is possible.

Tesla (TSLA) and Amazon (AMZN) acted somewhat weak all day. Depending on the action, these could be big players tomorrow.

China De-Listing Legislation Leads to a Big Dump

Keep an eye on China names — they dumped big due to de-listing legislation moving further along. This includes BABA, BILI, JD, NIO, and more.  a couple of weeks ago there was interesting Dec 17 105p put flow on BABA where is was around 135-140 area... somebody knew something is up.

The TSLA portion has a glitch. The audio should hav said I'm not convinced we see 1030.

Member Trade of the Day

Edumomo member Kin57 closed out his position on Moderna (MRNA) 310 December 3 calls at a 925% gain ... only to turn around and short MRNA in a swing trade and a day trade on 310 puts for gains of 180% and 65% respectively. Gangster.