8/6/2018 Not much to discuss. FB trade going well, and looking to buy BABA sometime next week.

FB jumped about 4.5 today, which was good (for me at least).  

QQQ is approaching 182.5 again which is where I was stopped out last time.  I plan to reshort at that price most likely.

Lastly, I plan to buy BABA next week in anticipation of a pre-earnings run up.  It seems like it always moves up the week or so before earnings.  The earnings date is 8/23 (two Thursdays from this Thursday).

BABA Earnings Play 8_6_2018.PNG

I plan to buy BABA somewhere in that rectangle support area, and sell the day before earnings.  I will have both a hard stop loss, and a time stop loss (selling before earnings no matter what).  This will reduce the stress from deciding when to sell (for a loss or gain).  

See you next week, good luck trading! 

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s