First things first, I looked at my current positions and MYTE had a sizable up-move this morning, so I got out of that right away. Ended up being a $100 loser, but whatever. I probably held for way too long anyway, but what can you do.. Hindsight is 20/20.
SOFI is also on a rally, I got into this on a breakout and retest, but that retest has turned into a rally. Had I been trading Forex, this has officially pushed above where my stop loss level would’ve been, but I did get here a little late, and now that I’m looking at the chart, I definitely see more downward potential. I’ll give this a max height of $10 in the underlying, but otherwise, I will let this ride for a little longer
Other than that, both CHPT and NCLH (especially NCLH) are pushing up and I’ve got calls in both. I’m going to probably add in my trailing stop to NCLH soon, and hopefully CHPT gets near those levels as well.
The S&P gapped up this morning, is on a little bit of a pullback, but looks like continued strength is in it’s future. And the VIX continues to drop, which is a little surprising honestly. It makes sense that volume lowers in the summer, but I don’t think that’s what this is. I’m looking now, and it’s only measuring the volatility of the S&P, and honestly, I guess that makes sense with things pushing more steadily in one direction.
My watchlist produced 40 options this morning, and I went through them until the prices were in the $90’s. I found a couple that looked decent — SPCE looked like it was rounding at a bottom to the upside, MTTR, something similar, maybe even a cup-and-handle — but upon further analysis, looking at hourly charts, and paying attention to support/resistance areas, extended breakouts etc. nothing looks as good as I’d like. I set a couple of alerts to let me know if prices in a couple of stocks get to levels where I’d be more comfortable trading, but as of now, I don’t see anything I want to enter.
I should look for something to take in the practice account, but my primary hesitation with that is: I don’t pay attention to it. I’m currently in PLUG in my practice account and it’s just kind of sitting there. I’d like to use it more seriously, but without a streamlined way to switch between accounts, there’s no good workflow to do so.
It’s a little early still, so I’ll give the stocks I’ve looked at a bit of time to breathe and maybe move into places where I’m ready to trade them. Later on, if I haven’t made any moves, maybe I’ll look to take something in the practice account so that I did get a trade in today.