Today's trade is precarious, will the market hold onto the highs of yesterday's extreme run up, in context of a downtrend, and below the 5dma?! In the sense that the mkt was way oversold, maybe. In the sense that some levels need to be retested, maybe not.
Rule of the day, don't give room! Do it right away or get the blast out.
SQ paid out of the gate. Ran through my 20% pl target before I even got the order in so BH I grabbed even more. Tried it again later for vwap bounce, that didn't work.
UPST was on gap screener, but I don't see the gap on the chart. Maybe this is a function of a stock that trades such huge ranges, a 2% gap is barely visible. $STUDY. Consider if I need a bigger gap on a bigger ranging stock. Stock is spready, option is spready. Can't give room! Tried the long above VWAP but it failed and I bailed! Reversed for short and (greed!!) aimed for 40% pl, which I got (39% counts bc trading increments). Then it didn't follow through and spread widened to almost $2 on a $5 option so I had to get what I could with a market order (while watching lvl2). Lucky I hit +/- mid and did ok. [Update, thinking about this more later in the day, when I see that it's run back up, this could be another case of a "pull back more than I think" it should.]
And then get out of here! Opening setups are played out, I got my piece--today with a great deal of "luck"--and I'm shutting it down.
+13% week. I wish for 20%+, but won't knock this at all. Won't get rich quick, but might get rich slow.
+13% week. I wish for 20%+, but won't knock this at all. Won't get rich quick, but might get rich slow.
