Trades

** This is taking the average profit per trade relative to the average loss. So a $5K profit and a $5K loss is a 1.0 score. A $5K profit and a $2.5K loss is a 2.0 score and a $2.5K profit and a $5K loss is a 0.5 score.

Economic Calendar

12/28 | Initial jobless claims will be announced

On 12/28 at 6:30a MST, the initial jobless claims will be announced. This is announced on a weekly basis on Thursdays, which is expected to impact the market if the results suddenly spike up. However the market has been rallying up until the year’s close, so I suspect this will show jobless claims are the same or lower.

Market Hypotheses

12/26 | Market will continue on a bullish rally, closing at or higher than $479

Reason

Observing the jobless claims report above, I hypothesize that the market will continue on a bullish trend. SPY closed at $473.65 on 12/22 and the support zone is at $458.97, so I don’t see the SPY cooling off this week.

I predict the trend will continue as it has and that by end of day 12/28, the SPY will close at or higher than $479.

Result ❌

Sector Hypotheses

N/A

Trade Hypotheses

12/28 | NVDA bullish at $494.90

Reason

With the pre-market hours in the SPY and QQQ opening up higher, I expected two recently-created resistance zones to break through and turn into support zones.

Result ✅

I ended up riding the wave by going both long and short. In general it was tough to make entries in the market today considering how choppy the waters are.

• Trade #1 → Sell short at $494.95 and buy to cover at $494.77 for a $0.18/share profit
• Exit → Limit order
• Position time → 1.55 minutes
• Trade #2 → Buy at $495.33 and sell at $495.65 for a $0.32/share profit
• Exit → Limit order
• Position time → 2.90 minutes
• Trade #3 → Sell short at $494.98 and buy to cover at $495.47 for a $0.49/share loss
• Exit → Market order
• Position time → 5.15 minutes

12/28 | TSLA bullish at $264

Reason

N/A

Result ❌

TSLA was not bullish from the start. While it had a gap up in the pre-market hours, it failed to rally and instead succumbed to the choppy waters of the market.

Instead, once the trend was clearly going down with Tesla, I decided to take action by selling short. What I noticed was that any potential rally was weak and fell short.

• Trade #1 → Sell short at $260.69 and buy to cover at $260.19 for a $0.50/share profit
• Exit → Market order
• Position time → 0.33 minutes

12/26 | TSLA bullish at $253.90

Reason

N/A

Result ✅

This trade was a good one to take, holding onto it for about 5 minutes. I was able to sell near the peak of the local maxima.

However, when looking at the daily chart this could have been a good candidate to test holding onto the stock for much longer. What gave me pause was that SPY had a really strong open and was starting to weaken right around the point in which I was selling.

• Trade #1 → Buy at $254.09 and sell at $254.40 for a $0.31/share profit
• Exit → Limit order
• Position time → 4.97 minutes

12/26 | NVDA bullish at $493.28

Reason

N/A

Result ✅

I could have held onto my first trade even a few minutes longer, to lock in an almost 10x profit. Objectively speaking though, the RSI indicator was way above 70 and hovering for a while, it probably wasn’t the wisest trade to take even though the outcome was still in my favor.

• Trade #1 → Buy at $493.28 and sell at $493.44 for a $0.16/share profit
• Exit → Limit order
• Position time → 1.48 minutes
• Trade #2 → Buy at $495.44 and sell at $495.61 for a $0.17/share profit
• Exit → Limit order
• Position time → 2.43 minutes

Trade Studies

12/26 | TBD