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Momo Market Roundup, 1/25/2022 — Patience Makes Perfect on a Choppy Day 

 January 25, 2022

By  spectre_trades

We saw a nice gap down overnight on most names after yesterday's insane rally. We started the day with some chop (as expected). The only way to get paid was to be patient and wait for the levels. All you needed to do was plan and wait.

Eventually we cleared high-of-day and saw the opportunity for another nice squeeze. If you grabbed the 432 SPY calls I shouted out to the team, you could have gotten them for $4.50 and sold then for $9.50 at the highs. Nice day to be a planner instead of a chaser.

SPY rallied right to yesterday's high to close the gap before a nice end-of-day selloff. All eyes will be on FOMC tomorrow. I expect chop or risk-off going into the morning ... even another gap down tonight wouldn't surprise me.

Watchlist Calls AMZN Support Test Perfectly

Amazon (AMZN) gave us some nice scoops, followed by an afternoon support test that bounced right off our 2766 level. These watchlist levels are simply amazing. If I said it once, I said it a thousand times — plan your risk-reward around those levels!

Great TSLA Trade Off the Watchlist

Tesla (TSLA) offered some nice longs, using the 900 watchlist level as our guide. I had called out the 905-910 area as the buy zone, risking vs. a 900 break and targeting a 950 level test. If you followed that guidance exactly, you would have made bank.

MSFT Consolidates and Blows

Microsoft (MSFT) reports tonight after the bell. Lots of pent-up frustration there as it consolidated before finally blowing its top. It made a nice quick move through a few points. The 290 calls went from $9 to just shy of $13. Rad.

 

Member Trade of the Day

Edumomo member Wey traded SPY, AMZN, and TSLA to end the day up 9.63%. Nice job, Wey!

spectre_trades


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

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