CPI this week. Will selling resume? Day Trading Ideas for Apr 8
CPI this week. Will selling resume? Day Trading Ideas for Apr 8
BTFD yet again on Friday, but will can it bull keep the trend going?
Good morning traders. How was your weekend? Are you well rested?
After last week’s action, the question in mind is, can the bulls reclaim trend or will the market begin a correction this week. CPI numbers come out this week so expect some volatility and range.
Musk said Robotaxi coming, and TSLA initial had a strong gap up, but has since pulled back. I’ll go over ideas for trading this.
Bitcoin is back over 72k with the last week’s double bottom established 65k as support. MSTR has gapped back to 1600 after dipping to 1450. This is important in that it implies risk/on is still here. The real test will be after April 17-19 time frame and the btc halving.
Let’s get into the trades from Friday and then ideas for today.
Introduction (for New Readers)
Welcome to my blog on Two Hour Trading, your daily source for market insights and trading opportunities. In this blog, I will provide you with a comprehensive analysis of the market, educational lessons, and trade ideas to help you stay ahead in your trading journey and best of all doing it less than two hours a day.
What Subscribers Get
Subscribers to this blog will receive daily updates on market analysis, educational content, and up to three trade ideas each morning, all based on real-life examples and my personal approach to trading.
NOTE: screenshots from chat are from Edge Trade Planner. A platform available to THT PRO members. Join Us for live commentary and planning. Note my goal is to actively trade less than 2 hours a day finding 1 to 4 great trades a day.
What is Two Hour Trading?
It’s my system for finding and executing trades while spending less than two hours a day trading. My goal is to earn 100-300% on the capital I risk while waiting for 1000%+ gain trades to setup. Key benefits:
High Quality trades with great reward vs risk
Avoid Overtrading and losses from it
Trading to Win vs Trading to Not Lose
Stacking the deck in your favor
2024 Alert Leaderboard
(I’ve decided to include a leaderboard so you can see what potential the 2 Hour Trading System has)
The following is based on entry alerts.
Apr 4 - SPX 5250p - Entry $4 ($4000→ $100k potential)
Apr 4 - SPX 5180p - Entry $1.30 ($1300 > $32k potential)
Apr 3 - SPX 5175/5170 bull put - Entry $1.50 ($1500 premium potential)
Apr 2 - SPX 5175/5170 bull put - Entry $1.50 ($1500 premium potential)
Apr 2 - SPX 5205/5200 bull put - Entry $1.50 ($1500 premium potential)
Mar 27 - SPX 5230c Entry $1.20 - High after $19 ($1200 → $19000 potential)
Mar 26 - SPX 5215p Entry $1.20 - High after $11.50 ($1200 → $11500 potential)
Mar 25 - SPX 5210p Entry $0.50 - High after $6.50 ($500 → $6500 potential)
Mar 22 - LULU 390p Entry $1.25 - High after $5.7 ($1125 → $5700 potential)
Mar 21 - SMCI 1000c Entry $4.80 - High after $22.60 ($480 → $2260 potential)
Mar 21 - SMCI 1000c Entry $4.80 - High after $22.60 ($480 → $2260 potential)
Mar 20 - SPX 4200c Entry $7.50 - High after $27.12 ($750 → $2710 potential)
Mar 19 - SPX 4170c Entry $1.10 - High after $11.30 ($1100 → $11300 potential)
Mar 18 - GOOGL 147p Entry $0.65 - High after $1.71 ($650 → $1700 potential)
*runner reached $2Mar 18 - SMCI 900p Entry $10 - High after $30 ($1000 → $3000 potenital)
*runner reached $60!Mar 14 - SPX 5150c Entry $3 - High after $10.50 ($3000 → $10500 potential)
Mar 12 - SPX 5150c Entry $4 - High after $27.50 ($4000 → $27500 potential)
Mar 11 - SPX 5120c Entry $3 - High after 7.50 ($3000 → $7500 potential)
Mar 8 - SMCI 1150p Entry $5 - High after $56.20 ($500 → $5620 potential)
Mar 8 - AMD 220c Entry $0.50 - High after $7.65 ($500 → $7650 potential)
Mar 7 - SPX 5175c Entry $0.50 - High after $2.40 ($500→ $2400 potential)
Mar 6 - SPX 5120c Entry $3.50 - High after $12+ ($3500→ $12000 potential)
Mar 5 - SPX 5070c Entry $0.50 - High after $10.75 ($500 → $10750 potential)
** alerted 0.30 entry wanted. dipped to 0.40. entered at 0.50Mar 5 - SPX 5070p Entry $1 - High after $13.50 ($1000 → $13500 potential)
Mar 4 - SMCI 1200c Entry $33 - High after $61 ($3300 —> $6100 potential)
Mar 1 - SPX 5120c Entry $2 - High after $20 ($2000 —> $20000 potential)
Feb 29 - SPX 5095c Entry 0.50 - High after $10 ($500 —> $10000 potential)
Feb 29 - SPX 5100c Entry 0.30 - High after $5+ ($300 —> $5000 potential)
Feb 27 - TSLA 195p Entry 0.90 - High after $2.30+ ($900 —> $2300 potential)
Feb 26 - SPX 5070p Entry 0.20 - High after $2. ($200 —> $2000 potential)
Feb 23 - NVDA 800p Entry 2.50 - High after $25.11 ($3000 → $25110 potential)
**Dipped to 2.57 (had to chase entry 3)
Feb 23 - NVDA 820c Entry 2.25 (swing from Thursday) - High after $25.00 ($2250 → $25000 potential)
Feb 22 - SPX 4090c Entry $2.50 - High after $9.20 ($2500 → $9200 potential)
Feb 16 - SMCI 1000p Entry $11 - High after $195 ($1100 → $19500 potential)
Feb 15 - TSLA 195c. Entry $1.20 - High after 5.95 ($1200 → $5950 potential)
Feb 14 - NVDA 720p. Entry $4.5 - High after $12 ($4500 → $12000 potential)
Feb 13 - SPX 4955p. Entry $5 - High after $34 ($5000 → $34000 potential)
Feb 12 - ARM 180c. Entry $1.20 - High after $14.10 ($1200 → $14000 potential)
Feb08 - ARM 100c. Entry $5 - High after $27.50. ($5000 → $27500 potential)
Feb07 - TSLA 185c. Entry $2.53 - Hight after $5.60 ($2530 —> $5600 potential)
Feb05 - SPX 4940c. Entry $3 - High after $16.60 ($3000 → $16,600 potential)
Feb02 - AMD 180c. Entry 0.15 - High after $1 ($1500 —> $10000 potential)
Jan 29 - SPX 4910c. Entry $1 - High after $20 ($1000 —> $20000 potential)
Jan 26 - NFLX 570c. Entry $0.50 - High after $9.85 ($500 → $9850 potential)
Jan 25 - TSLA 185p. Entry $1.5 - High after $6.3 ($1500 → $6300 potential)
Jan 24 - SPX 4890p Entry $1.50 - High after $22 ($1500 → $22000 potential)
Jan 24 - SPX 4880p Entry $0.50 - High after $12 ($500 → $6000 potential)
Jan 17 - SPX 4740c Entry $0.20 - High after $2.80 ($200→ $2800 potential)
Jan 17 - SPX 4740c Entry $1.20 - High after $12 ($1200→ $12000 potential)
**Past Performance is not indicative of future results
For live alerts and market commentary click the button below.
Friday’s Price Action (Education)
You don't try to make $100,000 ...You don’t start by saying, I’m going to make the biggest most profitable trade and turn $1000 into $100,000 and fix all my bad trades before.
You say, I’m going to plan and execute 1 trade as perfectly as I can today. You do that every single day, and soon you'll have a $100,000 and likely much more!
SPY/SPX
I wrote that I was looking for 517.50 to be tested for a short, but it 517.50 clears for upside.
I took a long on early vwap bounce in first 15min targeting 517.50 while also watching for a short. For this trade I took 5180c for $11 stops at $7 and sold most at 15 and let a runner do its thing in case we get a grind.
After seeing the triple top on 516, I started short a quick trigger to top out in case we got another bounce of vwap near 10:30. That is one of the join trend trade setups I love. So at this point I missed the long entry, but Moe took advantage of this and enter 5200c for $5 that went to $20+. The 5180c got close to $40.
By the time SPY got to 517.50, I was deeply into TSLA. As you can see after the 10:30am dip, or breakout over 516, there was nothing more to do. you count 2 levels up and that gets you 519.85 as the target. That is overall target for sells and turned out to be perfect.
In the afternoon we dipped to vwap twice and each time I went long. will some calls but by primarily selling bull puts betting we close above 5200.
Overall nice plans though my puts got stopped out.. Being flexible and open is essential.
TSLA
This was a bit tricky. I post this trade idea in Edge.
We didn’t get the push to 172, but I put yolo orders in for 167.50p for 0.20 and 0.50. why? because if we got the flush I wanted at 165 these would hit $2.50 for 5-10xx and at 160 they would be massively profitable.
Around 11am a news report came out that TSLA was going to cancel plans for a low cost model due to chinese competiton. So seeing the price action what do we do?
Step 1: Add to the puts.
Step 2: Lock profits in at 165 and 161. remember those 167.50p for $0.20? they hit $6 for 30x!!!
Step 3: Call BULLSHIT
I also called BS on the report did some digging, check with other trader friends if they agreed and then took swing 170c for 4/19 after 11:30 and 161 hit. Why?
We were able to scoop the 470c for $4-5. but they were 3.50 by the close, but I’m ok with that, because I believe that bs news story was a liquidity grab.
I also took some 165c as a yolo around 161 and sure enough Musk came out refuting the news triggering and spike and later after hours mentioned robotaxi is coming triggering a gap up this morning.
Trade Ideas - Plan for Monday Apr 8
Stick to process. The process and trade setups I teach works. Rinse and repeat over and over again. There will be losses. Any good system will have them. Being systematic also means the gains will repeat and come again too. If you keep changing your system/process trying in an effort to never lose a trade, you will never get to where you want to go.
Today I will be watching: SPY, TSLA, and NVDA again