This morning must of made a lot of people neverous as stocks woke up Bloody Red and a few stocks that gapped; have fallen all day.
This is the reason I say:
Have a plan and stick to the plan.
Almost every stock I had on my buy list hit a three day high, gapped, or is holding steady. The easiest thing to do is to sale on low volume and fear. Its real easy tosale for a small gain or small loss. Fear drives the market and greed.
It is days like this that if you stick to your plan, you are buying everyone else's fears, and you wake up tomorrow happy, all your stocks are possitive and none have gaps to fill
I am in no way perfect but I do believe that most charts tell a story. Todays charts are all coming back and testing support.
My plan today:
TSLA Daily Chart Testing the 9ma 20ma 50ma crossover. In my honest opinion this is a flip of a coin. It could open tomorrow lower or it could bounce and open at 215 with no gap to fill.
So I bought 70 520 weekly calls with an average of .80... I also bought 20 March 232.50 calls at an average of 1.62. Its sort of like holding 2 jacks in a hold-em game with no face cards on the turn. COIN FLIP. Takes balls to hold and bet...
I also stuck to my plan with Airlines. They akll gapped this morning and my number one rule is sale all gaps at the open. The rest of the day the airlines have fallen; so I started buying more near the bottom. I bought 200 weekly LUV 44.50 calls average price of .775. I feel very good this will pay at the end of the week.
AZO Auto zone it look like a break out, It did break out, and broke out before I had a chance to look at it.
Just bought 20 Apr 670 calls @ 3.70. Earnings March 2nd
Increased my UWTI another 10,000 shares as I am probablly only one of few that thinks Oil is going back to $75 a barrel by June... I now own 30,000 shares at an average price of $2.977. This is a long term investment. Every penny I make in Options has an investment plan.
Oil may not go up today, or next week; but it will go up. Banks came down back in 2009, if I would have purchased nothing but financials, I would have already retired. Oil went to 150, if I would have shorted, I would have retired. Oil has offered one more opportunity, this time I will listen as I will buy as much Oil as I possiblly can down hear below $50 a barrel.
This is my plan. I have stuck to the plan. I suggest you think about your portfolio and stick to your plan.
Not mine
Not Jimmy's
Not Pinto's
But your plan....
Happy trading this week.
AI
