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Momo Market Roundup, 3/09/2022 — SPY Full Steam Ahead… SHOP Quick AM Push… AMZN Range Mode… LMT Gap Down Reversal 

 March 9, 2022

By  spectre_trades

SPY Full Steam Ahead

SPY had moves last night AGAIN… but this time we opened with a nice gap up and made a slow grind higher all day… a nice change of pace. Planning, patience, and positioning really paid off today. If you grabbed the 426C on the reclaim of the 424 watchlist level you got paid.. Just slowly. They went from 1.6 to a high of 3.5 just a touch over our 428 level.

SHOP Quick AM Push

SHOP gapped up and over our 540 watchlist level for a chance to take a long position right out of the gate. If you grabbed 600C they were between 2-3 bucks and made a quick move to 9 by 10:30.. A nice start to the day.

AMZN Range Mode

AMZN was stuck in a range all day.. Same with quite a few names… however AMZN has nice big ranges so its still fun to make plays on. If you used 2750 as your guide for a long, you could have captured two nice moves on it.. If you used 2790 as your resistance it offered many more. What a nice name to play on days like this. 2800C went from 21 to 38 on the 2750 reclaim… and 2700P went from 13 to 30 if you grabbed it out of the gate at the loss of the 2800 level.

LMT Gap Down Reversal

LMT opened with a mighty gap down.. Almost 20 points… but there was buyers waiting with their money at the open. It held our 433 watchlist level and moved higher all morning before it met its match at our 455 watchlist level. After that it moved into consolidation mode. 450C moved from 2 dollars to 9.5 by lunchtime.

Two Hour Trader Student Results

Member LandCruiser finished the day off quick with a nice 3.38% on TSLA puts during the first 15 minutes!

spectre_trades


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

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