The big stock pick for Friday was obviously Tesla. It was a wild ride upwards with some serious profit to be had. I’m not posting it here because I’ve posted plenty of Tesla trades recently, and because I don’t want it to look like I’m bragging. Or setting unrealistic expectations. Huge wins like Tesla was offering, whilst not uncommon, are not an everyday occurence and I’m aware that by posting them too often I may give the impression otherwise. Anyway, it’s easy enough for anyone interested to go and look at a Tesla chart — the winning trades are blindingly obvious. Instead, let’s look at a couple of smaller winners that are more indicative of the kind of thing we find every day of the working week.
Here’s a nice little trade on GILD:
The setup here was less than perfect, but there was some volume looking for a direction. My exit was a bit late, I should really have got out as soon as it stalled instead of waiting around. It looked weak and I thought it had further to go, but actually it whipped around for a bit. In the end I got out at roughly the same place I should have done ten minutes earlier. $420 profit was certainly not in Tesla territory, but as I say, this was an everyday bread and butter trade.
As was PayPal:
This setup was nicer, showing direction from the start. The entry was easy and there was an obvious target based on a confluence of signals. Momentum got us there in under ten minutes, and as the target was so clear I wasted no time getting out with $700 for my trouble.
Tesla took up the rest of the morning. That stock moves fast at the best of times, and Friday was no exception. It required constant supervision. But whether you caught any of it’s mega moves or not, there was still plenty of action to be had elsewhere in the market, as I hope these two workmanlike trades show.