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Highlights for Week Ending 2022-08-19: $SPY $BBBY $TSLA $OXY 

 August 20, 2022

By  spectre_trades

Amazing Trades This Week!

Finding opportunity in the market mayhem

$SPY - Rally Exhaustion

PLAN

accumulate Friday SPY 425p on pushes over 428/429
Target 420-422 

EXECUTION

0.80 Average Entry
0.40 Stops
$3 Average Exit
RESULT

750% ROR

$TSLA - dip and rip

PLAN

accumulate 970 calls for 1.50 stop 1  
Target  980-100

EXECUTION

1.80 Average Entry
1.40 Stops
$1.40 Average Exit
RESULT

-33% CV

*contracts hit $3.50 before failing for 400% ROR, goal was to sell for 10 to 20

$OXY - Buffet 50% stake alert 

PLAN

  OXY 69c for 0.30 risk 50%

Target 71-73

EXECUTION

0.40 Average Entry
0.20 Stops
$2 Average Exit
RESULT

800% ROR


$BBBY - Cohen liquidation

PLAN

  BBBY 17p for 0.70 risk 50%

Target 10-14

EXECUTION

0.7 Average Entry
0.35 Stops
$5 Average Exit
RESULT

600% ROR


ROR: Reward over Risk        CV: Contract Value

(Disclosure:  Simulated Results based on Plans shared, Actual Execution and Results May Vary) 

Stocks I'm watching this Week

OXY - Buffet Approved to increase stake to 50%

Positives

  • Large Volume Increase
  • Increased Mentions r/wallstreetbets
  • Retail activity increased 500%
  • Large stake investment by well known long term investor

Plan

Watching dips this week either on 69 on 71.50 for new all time highs.  75-80 this week is possible.  Alerted swing 70c 8/26 in 1.30-1.60 area on 8/19, 

SPY - Possible Weekly Exhaustion/Reversal

Negatives

  • Weekly Doji
  • Multi Month trend line rejected
  • Increased Inflation in Europe
  • Dollar is Strong

Concerns

  • Worried too many people are scaled up for a short dump in September
  • Recipe for a short squeeze may develop

Plan

417.50 is critical this week.  a break of this likely take 415 puts, with goal of gap fill and support test in 408-410 area.  If panic selling comes this week, 400 flush is possible.

if 417.50 hold, I'll consider 419c for a long for a back test of 422/425 levels.  If 425 clears and holds a short squeeze back on 430+ could trigger. I like 422 and 425 as reshort spots.

NOTE:  We started hawking Oct 31 bear 3700/3500 vertical put at $20+.  Our plan to be patient and wait to fill between 10-13 worked.  

BBBY - Possible Gap Down Reversal Short Squeeze

Negatives

  • Major investor liquidated
  • Short squeeze exhausted

Plan

Watching for possible gap down reversal for short covering at 5 and 7.50 levels rip targeting 10-12.  This is very high risk! The trade may not setup.  Stay tuned


Recent Blogs

Why Didn't $SPY break 390?Been doing a lot research. What the expected behaviour last week and what actually developed, While not completely unexpected got me thinking

Is this you?  Have you got into a trade and are green, but struggle to know where to sell?  Do you have a habit of selling

spectre_trades


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

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