Closed Aapl weeklies

So I closed my Aapl weeklies for an average of 4.45 with an average entry of 2.30 about a 94% gain. 409 was a target area for the week & it hit it by about 9:45am. Can't get greedy, just take your profits and walk away happy. I did unfortunately sell it 2 sections (like I mentioned in the Spy weekly trade from before) & it ended up costing me about $1,000 on paper. 

I'm going to wait for around 3pm to see how the market is based on the 50 weekly sma. Slow day but I'm happy!

Aapl weeklies

I closed out my weekly Spy call position the following day as planned around 10:30 for $3.85, or about a 49% profit. Not bad for one day’s work. I initially watched premarket activity based on the GDP numbers & noticed there was no adverse reaction so I decided to sell based on the first pivot of the day 1250. I noticed that a lower high was made around 1252 & 1251 respectively and closed my position on the index's final attempt to retake 1250 at 1249 & change. Another factor that led me the execution of my trade was financials, in which the Xlf was having trouble holding 13. The indexes did make moves higher during the course of the day & I have realized that I need to do a better job of distributing my positions at different levels instead of unloading the entire position.  Sorry no chart, I'll do a better job with my current trade: Aapl 405 weekly calls that expire Friday December 30th. 

I follow a lot different securities & trade based on the opportunities which present themselves. Early in the trading session, I noticed Aapl broke 400 & I decided I would make a trade if it (& the market which had just crossed the 200sma) proved itself to me that it would hold these levels. Around 10:15 Aapl failed to make a lower low, RSI held up fairly well & the lower MACD cross all signaled to me that 400 had a good chance of holding. Because of the light trading volumes I expected more volatility throughout the day (maybe a retest of the 200sma) but we never real got it. I was just chop chop and go higher into the holiday weekend. 

So she went parabolic and I stayed patient placing my first trade in the general area before it made the big move. The market was holding up well so I ran some errands and when I came home, Aapl was making a lower low and all moving averages literally flat lined. At the cross of the VWAP and the 50ma I completed my position which is circled around 3:30. Right now I am up about 24% and I like Aapl’s relative strength vs the indexes last week. As we go into the last week of the year, firms will rush to include Aapl in their window dressing activities.  

New trade: spy weeklies

Today I went long 121 spy weekly calls that expire on Friday at $2.55 roughly S&P 1234. I noticed the bull shit head fake which is circled was false because 1) we had already bounced off the daily 50ma & in 1 hr rose 5 handles to my pivot of 1235 2) the RSI from the previous high was lower than that on the fake out, & 3) financials held up and stayed positive. Boom people... u see this type of action when your key signals go one way, time to act. The calls closed today at $3.33 with roughly a 23% profit. I will sell tomorrow based on the market's action (I'll explain tomorrow). 

Chris

First Post

Hey everyone,

My name is Chris & you may know me as MarketMaker@Stocktwits.com. As a part time day trader & investor, I specialize in technical analysis in different time frames, fundamental analysis, as well as have a sound background in economics. I have been actively trading since 2008, have a BBA in Finance & currently finishing my MA in Econ. I strongly believe in market discipline, risk management, as well as trading without emotion. Keys to success in this game people. While sharing my ideas and thoughts, feel free to give me a shout out and discuss any key developments.

Thanks,

Chris