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Morning Brief: Will We See Green? - 9/2/22

Markets were in free fall early yesterday morning, as tech continued to lead the way downward. NVDA was hit hard after the government blocked chips going to China, driving the stock down almost 12% during the low of the day.


However, stocks showed some life later in the afternoon , as a huge rally swept in. #TSLA did a complete reversal, shifting form 2.5% down, to back up over 1%. This rally came in as specific buy signals crossed, and the markets flirted with ending up positive all the way into close. I except that with stocks close to VWAP and it being Friday, we will show some mixed chop early on, but a later rally could happen again as traders push to punish short positions.


TRADES:


Still looking to set up more positions for next week.


#SNOW has corrected hard following a huge upswing after earnings. Dropped over 15% in the last couple days. I new trading range needs to be establish so I am just standing by


#NVDA : Is going to continue to struggle, but I caught the upswing yesterday before getting flat here. Will look to do some sort of credit spread for next week depending on the price


#TSLA: Continues to have good volatility but still within a range. I closed my next week short calls yesterday and the puts I bought for this week as the stock dropped into new weekly lows yesterday. I sold puts for next week at the bottom and will continue to adjust my positions for next week on the swings .


I will have more specific updated positions on Monday, giving details on strategy and specific strike points.


 


INSTAGRAM: daytrading_traveler




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