Trade Findings and Adjustments 05-21-2020
Announcements:
Three things to go over or think about today
- I got frustrated today because NOTHING is making sense
Holiday on Monday and the volatility caused by this today – Low volume, retail traders in and bigger swings because money makers are spending/managing like usual
Today is a day and tomorrow as well are JUST get through it days with NO trend follow through expected
Can you follow the trends short term? YES you can BUT you would basically be day trading
IF I was you try to take some profits – FB, TGT
You can use the low volume, high volatility to exit trades profitably
- Opening up the economy again in all 50 states
In Utah gas went from $1.84 to $2.15 in a week
Does this mean more new cases? YES we probably will
Nobody Knows what is happening, how contagious, how deadly, how to prevent
- Credit vs debit spread
Credit spreads = Credit, 30 days or less, it will make money in a sideways range bound price
