Two Quick Trades: FB, GME
The market opened again on Thursday in a volatile manner. Stocks opened lower and bounced vehemently after the first 30 minutes. We quickly got out of GME puts that we entered yesterday for an overnight profit of +34.45%.
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As things started to rise, I noticed two stocks going higher fast: one is FB, and the other is GME. Yes, GME quickly turned higher, and traded as high as $108, from yesterday's close of $81. We went in for a quick day-trade and quick booked a profit of +59%
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FB went from an opening low of below $185 to a quick pop to above $198, a quick $13 turn-around. That trade on the calls gave us a profit of +48%
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Now, as I write, the market is trying to find a direction. After 4 days of consecutive selling, a gap down brought the buyers back. SPX is finding soft support at around 1910. Let's see if it holds. We are likely going to see some wild swings in the next few days.
Disclosure: Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no ...
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