Diversification ( $JPM $MSFT $TWTR $C $QCOM )

I guess I can say I finally broke out of my old comfort zone, Facebook and Twitter. Market had a strong down trend today. Two of my losers were completely foolish considering I was looking for the bounce on Twitter. I guess I had to learn that lesson myself… don’t try to catch the bottom because Mother Market doesn’t give a shit how low you think is enough. I was 1/7 today.

$JPM long:

$MSFT long:

$TWTR first trade short, second two long:

$C short:

$QCOM long:

Modified Strategy ( $FB $TWTR )

Most of the market seemed to wait for $BABA to go live so it was a very very slow morning for me. I did take one Facebook trade (short). From now on I’ll show where I scale out and where I close out. This trade was a scratch… I captured a little and closed out for -2$.

Once $BABA went live at 12EST some volume poured back into the market. My modified strategy included playing some slightly lower deltas to hopefully not get whipsawed so much.

I guess another modification I’m making to my buying strategy is to wait for a slight pullback before getting in. Ideally, I want to buy at a previous break out point. I sat here with my finger on the trigger to enter Twitter but couldn’t do it. I did manage to get my setup but I could have gotten in for a much better price. At least this was a profitable trade and I finished the day green. That always feels good.

I was planning my entry around $51.15 but just couldn’t do it. The more time I’m putting in, the more technical patterns I am seeing which is good. The faster I can recognize a setup, the faster I can enter a trade at a good spot.

A common occurrence in trading is leaving money on the table (selling too early). It is a good problem to have because it shows that you are locking in profits. However, as a trader, we like to call it ‘the torture chamber’ when you look back at a stock after you’ve sold and it makes a massive move.

The last 15 minutes of trading Twitter was just insanity. I just sat in here disbelief because those are the kind of moves that can wash away days of losses. Anyways, I ended the day green and I’ll be ready for some explosive moves next time they present themselves. Have a great weekend.

Green/Red ( $TWTR $FB )

Started the day off nicely. The markets appeared to have a nice strong uptrend going so I took my usual entries on both Facebook and Twitter. While I did not reach my profit target, I scaled out of both on the pops and the red arrow signals where I closed my final contract. I refused to let winning trades turn into losers.

I looked to play a continuation to the upside but the market took a dive for a bit.

Toward the end of the day, both Twitter and Facebook were trending down nicely. I hopped in one last trade looking for continuation to the downside. Conveniently, it happened to bounce up about 30c. That’s the beauty of the market… anything can happen. 2/4 on the day.