Well, we had another solid week of winning trades in a volatile market environment! The market took a quick drop on Thursday, partially fearing the bank downgrades by Moody. The market came down so fast that we pretty much just sat out and observed. We did, however, pick up some FB calls, which gave us an overnight double.
We finished the week with most of our trades on the winning side. Here are the closed trades for the week:
Sometimes, when the market makes a quick, violent move, it is better to just be still and observe for a bit. If you’re always chasing trades, you could find yourself always behind the market movements. By the time you get into your trade, the market could turn. We don’t have to catch market’s every move, especially in a volatile market. If you missed a move, just wait patiently for the market to make it’s next move.
Lots of economic data are coming in next week, and, in a couple of weeks, earnings are starting again. I’ll be back on Sunday evening to discuss potential trading opportunities in my weekly Market Forecast and Sector Watch.
Enjoy your weekend!
Good night and HappyTrading! ™