10/11 Recap

We’re finally moving out of this range we’ve been in. I know some people are calling this move euphoric and dialing back but I would say to the contrary, we broke out back in mid September and we’ve consolidated for a month now. We’re finally moving higher out of that range, bank earnings were fine today, and now we’re going to likely see a move up until the megacaps report. Those really drive the whole market and what they say and do will mean alot in the next couple weeks. I would stay long and have no concerns until we near a break of that 21 ema(light blue line) until then, there is really nothing to fear. Small pullbacks are natural and you can see the 21 ema is 10 points lower, but real trend shifts don’t occur until that breaks.

Recent Trades

UBER - In tuesday’s recap here I noted these Uber calls. Everything below played out to perfection, the Tesla event was a disaster and that stock got hit today going down 10% at one point and Uber is up 10% right now to nearly $86, as all the fears of Tesla robotaxis were removed. I’m glad that best idea I wrote up on Tesla 3 weeks expired last week before the event, I had a feeling it was going to be nothing material as Tesla still has not 1 government monitored autonomous mile logged and it played out perfectly.

Today’s Unusual Options Flow

Here is today’s link to the database, it will be open until monday’s opening bell. The rest of today’s trades will be added by the afternoon so check back for updated trends and trades.