Today was a fairly slow day in the market. Although we are in the middle of earnings season the gappers this morning were fairly light. The big mover was Amazon. I was tempted to buy AMZN long at $440 but the spreads were 50-80 cents which means if it went the wrong way my stop would have been probably $438. I passed on the trade thinking the risk would be to high but of course it ran straight up to $448. That’s okay! I will get the next one!
I did take small trades on LOOK, CALI, DIS, and MCP but didn’t generate too much profit. I’m closing the day down just under $400 but finishing the week over $2k profit. It’s been a slow week but like I often say, this job is all about slow and steady. I know we can’t force the markets or force trades. The best strategy is to take it slow and focus on only taking the best setups. That will continue to be my approach next week.