First and foremost, it’s a little later than I would have liked to get to the computer but earlier than some other days, so It’s fine. I’m tired, and woke up with a little bit of a “day 2” hangover, but am feeling better now that I’m up and moving and had some water. About to have coffee now. I did go to sleep pretty late, though, and am a little foggy mentally right now, but only a little.
Other than that, I’m surprisingly okay. My week is already a bit thrown out of whack routine-wise, but I’m making sure I get to the charts each day.
Looking at my current positions. MYTE is basically sitting at the open right now, CHPT gapped up, but pushed down right away (though it’s still up on the day, and I’m comfortable with it) and SOFI is having a small up-move right now on the day, but only made it about half way to Friday’s highs and has been pushing down. I’m comfortable with all of the trades, they’re just not moving that quickly which is fine.
I’ve been considering getting out of MYTE since I’ve been in it the longest and, at this point, I’m starting to think about theta decay, but I’m pretty sure this is a longer-term option, so I should be okay there. I was thinking that I should get out so that I could make room in my trading account for something else, but A) if I don’t know what that something else is, I don’t want to get out of a position and B) I’m still able to take trades right now even with that money “tied up”, so I’m going to continue to hold.
The S&P appears to be trying to make a recovery — it’s been pushing up since the 15th and is on another up-day — though today (so far anyway) it hasn’t moved much. The VIX is up ~4% as well, so hopefully that leads to more opportunities to find trades.
There were over 20 options on my watchlist this morning, and I’ve singled out 9 of them. It’s kind of a lot, but I plan to narrow them down further.
The number 1 stock I’m looking at today, by my eye, is NLCH. Norwegian Cruise Line. It’s been basing for the last 4 trading days and on the hourly chart, had a breakout and is currently retesting the breakout area. The bands are just expanding and the MA’s are about to cross to the upside, and we’re still not in overbought territory by any means, so this looks good. I’m going to run the numbers here
I got into NLCH immediately, and will journal that trade, the last thing I’m looking at seriously today is DKNG (DraftKings). It broke a support area this morning, and I’m waiting to see if it retests that support-now-resistance area. I’ve got an alert set, so I can just let that run.