1.26 Trade Plan
Everyone likes to talk about the same stocks because the media mentions them, like TSLA 0.00%↑ - but who cares, not me - I would rather focus on making returns than sitting there and discussing hypothetical ideas or valuations.
Crude had a strong continuation day today which is paying off very well for a lot of names in the report (and my swing WTI calls). This week makes the second EIA draw and that’s what I was looking for to support the technical side of this trade.
That was from the Sunday report. USO 0.00%↑ calls work(ed) and/or my preference WTI calls. There’s more leverage on the WTI options and they trade overnight so that’s my preference for those curious to that.
VLO 0.00%↑ - which made it back into the report this week had a decent earnings and the buybacks and dividend increases are doing well for that stock. If you are in the $100K AST Alerts Portfolio that will work out well. If you are not you can trial it for 30 days for $30.
Energy long right now just makes too much sense fundamentally and the charts aligned as well on a lot of names so new longs are being added daily for me.
I know this might be a different approach then trying to read call flow or trading the same 10 stocks - which I do - but for day-trading, but it works.
Not much has changed on SPY 0.00%↑ or QQQ 0.00%↑ today - both really inside/chop days as we get through earnings and that’s expected but how we close the week tomorrow matters. Many energy names are closing with very bullish weekly candles so the fire may have been lit there for the leg up.
Overall this was a good week and it’s amazing how fast we’re through January already.
In The Premium Video I cover:
S&P500, Nasdaq, Crude plan for tomorrow
Overview of a oil stock long
2 potential day trades for tomorrow to watch