SPY had a nice little gap up… we gave some of it a fill and then we were met with continuation. It came about a dollar shy of our 389.5 level and took off. Running all the way to 398. Nice little move if you grabbed the trade. 392C from 2 to a high of 5.8!
$VMW / $AVGO Buyout News
VMW had a huge gap up after the potential buyout. We had some profit taking at the open before it retraced close to our 111.5 level. If you took it long risking 2 bucks you got a really nice pop into the close to end the day right. 112.5 to 125 risking 2 dollars is a great risk reward opportunity. AVGO also had a nice risk reward long when it dropped into the 515 level before making the move to 530.
$AMZN Fast Morning Flush
AMZN was removed from the focus list at Citigroup.. That apparently caused some selling in the morning session. We got an initial rally followed by a lower high and then bloodshed. If you shorted on the lower high you could have filled 2100P for 29-32 and it went as high as 68 in just a few minutes. That is a glorious trade.
Two Hour Trader Student Results
Always keep focused on the process. If you have faith in the process the math plays out in the end.