Markets gapped down today, with the Dow down almost 200 points and SPX losing about 25 points. But, within the first hour of trading, buyers quickly came in. By the end of the day, the Dow closed down only 51 points and SPX almost turned green!
We took profits on our UNP and AMZN puts:
UNP puts gave us an overnight +67% profit. We didn't get the high on the AMZN puts, but, we did get out with a small profit. AMZN ended up almost $6 by the end of the day!
Since buyers are buying the dips, let's take a look at a couple of interesting trade ideas:
FB's chart is shaping up nicely. It went down at open with the broader market today, but, came back up and closed in the green. There is a gap to fill from last month's earnings drop. I can see this rallying back to test $80.
MBLY has been trading lower. But, last week's pop from the bottom is quite interesting. This chart is not very strong, but, its MACD has turned bullish. I think this can get a quick pop to test $48.
Good night and HappyTrading! ™