Posted October 09, 2020
By Scott Stewart
Five Out Of Six Profitable Trades!
Five Out Of Six Profitable Trades
Today we are looking at past trades that have either just expired or are expiring today.Position #1: NKE - a 9/23 trade was made on Nike that expired on 10/2, fully profitable.Position #2: SH - This one was a short position trade that we got knocked out of right off the bat - bought at $21.19, and stopped at $20.78.This would have been a good trade if we had stayed in, but our goal is to manage risk and be disciplined in our trading.Position #3: GLD - This one was an ETF for gold that we put together on 9/28. It expired on the 2nd, fully profitable.Position #4: NY - This was our earning trade for last week that we put together on 9/29. The earnings trade came out on Wednesday, fully profitable. We hit this one right on the head!Position #5: TLT - This is the bond trade we put together on 9/30. This one will expire today, again, fully profitable.Position #6: USO - Last one was our oil play. This one will also be expiring, fully profitable, today.So all in all a great success - 5 out of 6 of our last trades brought great returns!Todays Trading Tip
We do have a tip today to help you line up a trade for next week. This one is an earnings play that will be coming out on banks.Citibank (C) is coming out with an earnings announcement on Tuesday before the markets open.Bank of America (BAC) is also coming out with earnings, but on Wednesday morning before the markets open.To make a trade with a high potential of profit, we would look to line up on Monday and put together a trade on Tuesday.The idea is to watch what Citibank does after those earnings come out, and however Citibank reacts, thats how we play Bank of America for that day as well.Thats your trading tip for next week, and we will be back on Monday with a brand new trading idea and a couple of interesting market action pieces!Thats it for today!Well talk again MondayRegards,Scott StewartEditor, Rude Awakening
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