The Boing Carnage Continues (Trades)

Given the worsening news for Boeing (large parts of Europe banned the 737 Max from their airspace on Monday), the stock was another obvious candidate for trading. Yesterday I wrote about the ethics of profitiing from a disaster, so I won’t go into that again today. Here’s the chart:

Knowing that this was highly likely to produce a trade, I stayed out of other stocks, keeping my capital free for BA, which is priced much higher than anything I would normally select to watch. That meant I could go in with a 500-share position. So although the trade made a bit less than yesterday’s, the larger position made up some of the difference. As we were into day two of this story (and, if I’m honest, because I had more capital at stake), I was a bit more cautious and scaled out, taking half off as soon as things faltered and we were at a natural exit point, and the other half off when it was pretty clear the run was over — at least temporarily. There was more to be had later on, but when trading something outside of my comfort zone, I prefer to stick to the basics that I know work everywhere. Besides, more than two thousand dollars profit on a single ten minute trade is more than enough — no need to get greedy.

The trade itself was fairly textbook then. And although less profitable than yesterday’s in final dollar value, for anyone who counts (the largely useless) profit-per-minute stat, it was actually about twice as profitable.

Getting out of BA relatively early meant I had funds freed up for DKS, which came along right after

Another textbook setup, though the exit was on the failure of a target rather than hitting one. Again, if counting dollars per minute in the trade, this was in the $100/minute territory, which is nothing to be sniffed at.