9/24 Recap

Today was all about the overnight stimulus out of China. Those names are flying today as China is attempting to do what we did, which is just pump everything. These names are so beaten down that you’ll notice today’s flow was overwhelmed with China names. This could be the start of a massive mean reversion trade over there. Trade the charts, all these stocks are just trading instruments, I am not a fan of China equities as the government constantly crushes them but they seem to be turning a page and learning to focus on them like we do.

The SPY is putting in its 4th straight tight candle, we’re seeing no intraday action really, we do remain over the breakout and things are ok for now. The 8 ema is catching up and this is normal consolidation after that quick move up we had. NVDA had a big move up this morning on news Jensen has finished his sales for now. So that is lifting the NQ up 100 right now even with many megacaps red today.

Recent Trades

BABA - 5 weeks back on 8/18 I wrote up Alibaba as a best idea on the weekend here. I posted 3 different trade ideas at the time and they’re all up tremendously since. If you just used the middle trade I suggested those BABA calls went from 4.95 to 11.40 right now with the name at 96.xx and the short puts melted from 4.50 to 1.25. When you close these trades is up to you, but if you’re happy with today’s gains, take it. That’s a tremendous 1 month trade.

New Position I Added