Hi everyone, I hope you had a nice weekend!
I sold NIO at 40.98 on Friday. This is the first time where my exit price was different than the automatic profit exit I had originally set. Either way, it’s only off 2 cents from 41, so it’s negligible. I made 3 times my risk on the trade, which is more than I’m used to (usually get 2 times my risk). I’m still holding M, and will do so unless my stop loss or profit exit is hit. I will exit right before the earnings if my stop loss or profit exit aren’t hit.
I’m expecting the indexes to pull back based on the charts, but won’t be shorting since major earning reports are very soon.
I do have a couple stocks I want to buy though. My favorite one is ORCL, and some other stocks I’m looking at buying are: DIS, NKE, PTON, CHWY, BA, and MRO. Most likely, I will only enter 2-3 of these positions.
ORCL daily chart below. I had one small loss on it in February this year, but had a large win in March. Price is pulling back and the stock is still in a clear uptrend, so I want to buy somewhere near the 71-73 zone.
PTON daily chart below. The chart isn’t that good, but it is clearly at a support level and is kind of in an uptrend.
DIS has earnings soon, otherwise I’d likely be buying at current levels. I want to wait a little bit to see if NKE will close above 131 to look to go long.
I’m keeping most of my account in cash because I think there will be better opportunities once the major company earnings are out. I’m leaning towards shorting the indexes again after earnings (last try didn’t work out).
Bigfry's Blog 