Friday proved to be another day of abundant opportunity, allowing willing traders to fill their coffers for the weekend. Here are three nice trades — a taster of what was out there. As is customary, I’ll go in reverse order of profit.
First up, WORK. I understand Slack is pretty hot stuff for people with real jobs, but it’s a mystery to me. No matter, all I care about is the chart, and it looked like this:
This was standard stuff, not much to comment on. $470 profit was nice, but as we’ll see, there was much (much) more to be had elsewhere.
Like NFLX for example. Unlike Slack, I do have experience of Netflix. Mrs W. is a huge fan, and I’m partial to a bit of Better Call Saul myself. Not that I would allow my admiration for the streaming service get in the way of shorting the heck out of its stock. So when this set up, I was in for the ride:
I held on through some ups and downs here because despite the ups, the momentum was down. Out on the second green bar, taking more than three grand for my trouble.
And yet, there was still more to be had elsewhere. Of course, it had to be our old friend ROKU who came up with the goodies.
Again, not a lot to say about this because it was mostly textbook. My target was the blue line. Because I’m a sucker for ending up with a nice round number profit, when it was clear it was time to get out I put in an exit order a little below. So I finished with a nice clean $4,000 profit. Vanity exits are not a recommended strategy!