It’s been a while since I posted a Boeing trade, but the beleaguered plane-maker is still providing boundless of opportunities to makes bundles of cash. Here’s a quickie from Friday’s session:
With such a high-priced stock, I’m trading smaller than usual size. Even so, the range of BA means that $1,265 profit from a twenty minute trade is quite doable.
There’s nothing hard about these trades; they are bog-standard setups of the kind I’ve been trading for decades. Someone asked me the other day if my trading strategy only works in a trending market, which misses the point entirely. These are momemtum setups, and the point is that in a vast universe of stocks, there are always momentum trades to be had. What the overall market is doing is largely irrelevant. It could be the flatest or choppiest day you like, there will always be at least a handful of stocks that move like that BA chart above. Which is why these setups stand the test of time; they are not a short-term play that require specific market conditions.
Speaking of setups and breaking rules, here’s a quick rule-breaker:
Strictly speaking this was an early entry. Howver, it was so clearly signalled it was worth the relatively tiny risk. Especially given the potential upside, and indeed this was another twenty minute trade that produced a four-figure profit.
One more, a quick look at core stock MU:
Far less impressive to look at than the others, but remember trades like this are the bread and butter of the pro trader.