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

Category1 1 Minute

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! 

Published by bigfry

Hi, I’m Nathan and I’m currently a Sophomore at Boston University majoring in Finance and minoring in Piano Performance. I’ve always found the financial markets fascinating so I decided to start this blog to share my experiences with you. So far, I’ve only been trading stocks for about a year, but I plan to continue trading for a long time. Outside of school and trading stocks, I enjoy teaching and playing piano, fishing, watching anime, and teaching/playing "Go," an ancient Chinese strategic board game. This blog will be dedicated to sharing my trading experience, what I learned from the books I’ve read, and commentary on the FAANG stocks (Facebook, Apple, Amazon, Netflix, Google) along with the major indexes. I will also have resources that explain my take on risk management, options trading, popular indicators, psychology, and of course, entertaining stories. I hope to write a book in the near future!

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