Market has been outrageously strong for 3 days. Today, SPY bumping 200dma and QQQ bumping 50s. What to trade? First of all, be careful! Careful means small, slow, wait.
BA can move. Today it looked weak, below mini uptrend fin and below fastest ma's. Took a normal position, then added for oversize. It didn't feel like I was going to get my pl target bc price support on premkt, so I took a price target (181.13), then squeezed the stop. 12% avg on oversized position not too shabby. BA dropped when the market rose in the open. But when the market started dropping, BA didn't give out. Time to tighten.
SHEL daily downtrend has been on my radar. Today volume gap above some of the various dt lines. BA had my full attention for a while, but when I saw a decent pb and bounce I tried it for ndh. The option was monthly for April so didn't move too well, but I got 20% anyway on more than half bc unattended. Exited on raised stop.
Can't complain!
