So we bought Nasdaq QQQ calls on Thursday – before Amazon’s blowout earnings.
BUT — We sold too early – really did not expect it to get up so much and even then continue running into the close. So we bought QQQ calls when NQ futures were around 6060 — we sold at the open the next day at 6130 NQ and 6166 NQ.
NQ closed the day at 6214 — that’s a massive move up.
As Nasdaq continued to climb higher and higher into unchartered territory, we felt safer putting the money into something that wasn’t at nosebleed levels – and so entered IWM calls on the Russell as it was developing a pattern to the upside.
The S&P is near all-time highs at 2577 – it appears 4th wave support is in the 2545 – and the momentum has this pushing higher next week. 2600 ES is entirely possible before 2545 ES is tested.
The Russell has been a bit frustrating as that drop from October 23 – to October 25 was much steeper than expected and we didn’t trade this one well. But when upside was forming on Friday, we re-entered – so we’ll see if momentum in the other indices can carry this out – as it appears 4th wave bottomed on Wednesday.
After exiting our QQQ calls for over $1,000 gains – the Nasdsaq just kept running higher and higher.
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