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Momo Market Roundup, 12/7/2021 — We’re Back, and Firing on All Cylinders 

 December 8, 2021

By  spectre_trades

SPY Excitement, Killer Teamwork

Great day, great follow-through from the premarket prep. We planned profit-taking at the open and then trend continuation throughout the day.

If the SPY cleared 465, we thought it would continue to 466.4 and 469 respectively. We were only a few cents shy. The 465 calls we targeted went from $2.50 all the way up to $4.71 at the high.

Tomorrow we'll be watching to see how SPY handles the 466.5 and 469 levels, respectively. We had a nice move from the 450 level. It may be close to exhaustion or consolidation mode.

I was thrilled to see some great discussions on the Edumomo member chat and voice chat. Members are looking for long opportunities on Google (GOOGL), which weren't on our list, as well as swing trades on Jumia Technologies (JMIA).

3x Opportunity to Go Long on AMZN Trend

Amazon (AMZN) dipped right into our 3470 watchlist level and then had a nice morning trend, stopping just a few points shy of the 3550 watchlist level. Our 3550 calls more than tripled, from $11.50 al the way to a high of $35.

LCID Gap-Up Leads to Short Opportunity

Lucid Group (LCID) had a great gap up to 47. Depending on how it reacted, we were poised to go short. Well, it didn't react well. The 45 puts went more than doubled, form $1.75 all the way to $3.30. You could have also sold the 47 calls for $2.25, and the went as low as $0.79 by lunch!

TSLA Short Idea from a Member

Edumomo member Partner shared a planned trade to short Tesla (TSLA) once it failed to clear our 1045 watchlist level. It worked like a charm, dumping straight back down to the 1030 level. If you bought 1030 puts at $17 or $18, you could have sold them for as high as $27.50 before finding a nice double bottom on the 1030 level.

UPST Swing

Upstart (UPST) gave us the amazing swing entry we had been looking for last week. It's playing out nicely so far, hitting our 160 watchlist level yesterday. There's some nice spec flow into the 195 calls and 200 calls as well.

Member Trade of the Day

Edumomo member Ryu2 went long on TSLA, Moderna (MRNA), and Mongodb (MDB) to end the day up 5%. Nice job!

spectre_trades


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

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