This was a great week in the trading room, both for us and our members. Whenever we have weeks like this, it’s important to remember that ‘Euphoria is worse than fear,’ especially as we get extended. Let’s go over all our setups, and a couple new ones, including AMD, BYND, MSFT, TWLO, CDNS, ZEN, DIS, ROKU, and more. See you next week!
The open bond position is still a valid long position, but what else fits with this short yield play? Well for one, the long Home Depot position that we’re scaling out of today.
I don’t really mind that the BYND move doesn’t make sense. It can teach us a lot about trading, and even more about market psychology.
I don’t know that this S&P rally is done just yet, but I do want to start buttoning things down. AMZN is a little weak after earnings and I think the stage is set for a decline into next Friday. Let’s talk about a few ways to manage inside that.
Holding positions is fine, but time and events are going to still be a factor… here’s what I have my eye on as we wind down the week.
