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Momo Market Roundup, 2/15/2022 — NVDA, SPCE, and ANET Longs … plus a Weak AMZN 

 February 15, 2022

By  spectre_trades

SPY gapped up like crazy today, and every dip got bought up.  We're watching for it to clear 446 and then looking for a squeeze.

NVDA Makes a Run For It

NVIDIA Corp (NVDA) made us happy by dipping into our 248 watchlist level and then proceeding to run all the way up to the 265. The 260 calls went from $6.50 to a high of $13.50, a nice clean double.

SPCE Blasts Off

Virgin Galactic (SPCE) ... haven't seen that one in a while. It made the list after some news this morning. Once it claimed our 9 watchlist level, it made a nice upward grind all day. If you took common shares at $9, risking $0.50, you made a nice $2 gain — 1:4 risk vs. reward! That's how we do it.

Nice Long on ANET

Arista Networks (ANET) popped up after a nice earnings report and PT upgrades — in other words, time to watch for trend. After a rocky opening, you could have gotten long on the lows, risking to a break of the 123 watchlist level, and had a very nice day. ANET went al the way to a high of $132.50. Awesome.

AMZN Tanks, and Could Go Lower

Amazon (AMZN) showed relative weakness compared to Tesla (TSLA) and other watchlist regulars. It popped into the 3160 watchlist level and promptly rejected, selling all the way down to our 3100 level ... a nice 60-point move in our favor. We're watching for 3100 to hold — if it can't, we expect more downside.

If you grabbed the 3100 puts on the 10am pop against the level, they were going for a low of $26.50. When it bottomed out for the day, those contracts went for $47! 

                                                              

Member Trade of the Day

Edumomo member Mr.Chet called it an early day after trading Moderna (MRNA) puts and NVDA calls to grow his account 3.7% before the clock struck noon EST. Hope you enjoyed your afternoon, Mr.Chet — you can become very wealthy with daily gains like that.

spectre_trades


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

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