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Momo Market Roundup, 5/04/2022 — $SPY Face Melting Rally… $ABNB Gap Up Reversal… $SBUX Gap And Go…$AMD Good Guidance… 

 May 4, 2022

By  spectre_trades

$SPY Face Melting Rally

SPY… today was a big day. Rate decisions and economic outlook from the Fed. Initially after the announcement the market seemed undecided but once it failed to break lows and starting reclaiming some levels it was game on. As the market unwinded we headed higher. Much higher. If you got long 418C on the 416 reclaim you made enough for the month and you can go relax.1.85 to a high of 11.3!

$ABNB Gap Up Reversal

ABNB had a nice E/R last night but perhaps due to the uncertainty in the market it gave us an excellent short opportunity. It popped up just shy of our 160 level and then proceeded to sell off with the general market in the morning. 155P from 3.5 to a high of 10.

$SBUX Gap And Go

SBUX gapped up after earnings and it held the opening lows all day. Impressive. Even while the market was selling. If you grabbed commons near our 77.6 level and risked to a break of it you received a nice 1:3 risk reward.

$AMD Good Guidance

AMD had earnings as well last night and raised guidance. Overnight there was quite a bit of buying. It initially sold off in the morning giving everyone a great chance to get long vs 91 as it filled most of the gap. 95C from 1.8 to 5!

Two Hour Trader Student Results

Nice work. Slow and steady. Especially on an uncertain day.

spectre_trades


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

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