PLTR and SPOT fly after earnings. Bulls bought the dip yesterday, will the buying continue? Ideas for Feb 04, 2025
In today's blog I review how I lost $1 on my short and flipped and took advantage of my favorite trade setup taking SPX 6000c from $5.50->$22
Good morning traders !
Process wins again! At first it looked like we might get a flush in 590 for a double bottom and I took a short for that dip, with dip buy orders for the long. I was up $3 and 50% on my contracts, I didn’t follow my rules to lock 50% when contracts were heavily juiced and we got a news bomb revrsing trend. i got stopped at $5 losing a buck and then flipped long on SPX 6000c taking it from 5.50 to $22. How and why did I do that? I’ll cover that in today’s recap.
The big news from overnight is PLTR continues its rally and it at something like over 500 -700 P/E now from what I recall. “Growth isn’t cheap, its insane!” But we are momo traders and fundamentals don’t matter. PLTR should provide plenty of opportunity this week.
In after hours, I alerted long PLTR at 98.50 and I have a 106 target to exit 90% of my commons scalp. we are at 104+ as of this writing.
SPOT reported this morning and is also flying. Let’s see if my levels work for it and if we can find a trade on it.
Mon Highlights
SPY - gap down reversal and reclaim on the 592 level leading to a rally to 600!
TSLA - was a strong seller in the morning then popped and sold again but the put in a higher low at 576.
BABA - ripped out of the gate to 101 and based at 98. Should see over 105 within 2 weeks.
AAPL - was heavy and found support at 226 and pushed back to 228-229.
Tuesday Premarket Highlights
SPY 0.00%↑ - gapped down in premarket and based on 595-597 and then pushed over 598. Let’s see if 600+ comes today.
SPOT 0.00%↑ - gapping up on e/r
PLTR 0.00%↑ - gapping up on e/r after back testing 99. now at 104
BABA 0.00%↑ - gapping over 100
JOLTs numbers come at 10:00am so will wait for a trade after this news event.
I’ll go over my ideas in the paid section and the key levels 'I’m looking for a reaction to.
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Two Hour Trading is 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 set up. Key benefits include:
High-quality trades with excellent reward vs. risk
Avoiding overtrading and losses from it
Trading to win vs. trading not to lose
Stacking the deck in your favor
2025 Q1 Alert Leaderboard
Here's a look at some of the potential gains achieved through our entry alerts:
Intraday Alerts
2024-01-02 SPX 5880p 11 to 40+
2024-01-02 SPX 5820p $2 to 10
2024-01-03 SPX 5930c $2, dipped to $3 and ran to $11
2024-01-06 SPX 5980p $1.70 → $20 ($1700 to $20k potential)
2024-01-07 SPX 5900p $0.50 → $11 ($500 to $11000 potential)
2024-01-07 SPX 5930p $5 → $17.4 ($5000 to $17400 potential)
2024-01-07 SPX 5930p $5 → $40 ($500 to $4000 potential)
2024-01-08 SPX 5800p 1/10 $4 → $10 ($400 to $1000 potential)
2024-01-10 SPX 5800p 1/10 $4 → $10 ($400 to $1000 potential)
2024-01-13 SPX 5820c $5 → $10 ($400 to $1000 potential) **Round 1
2024-01-13 SPX 5820c $2.80 → $16 ($400 to $1000 potential) ** Round 2
2024-01-13 SPX 5820c $4.50 → $16 ($400 to $1000 potential)** Round 3
2024-01-14 SPX 5870c $0.75 → $3.75 ($750 to $3750 potential)
2024-01-14 TSLA 430c $0.75 → $3.75 ($750 to $3750 potential)
2024-01-15 SPX 5950c $9 → $14 ($9000 to $14000 potential)
2024-01-15 GS 610c $2 → $4.50 ($2000 to $4500 potential)
2024-01-15 TSLA 430c $3-4 → $8.20 ($3500 to $8200 potential)
2024-01-15 QQQ 514p $0.8 → $1.82 ($8000 to $18200 potential)
2024-01-16 AAPL 235p $0.7 → $7 ($700 to $7000 potential)
2024-01-16 SPX 5980c $7 → $12 ($700 to $1200 potential)
2024-01-16 SPX 5970c $2 → $5 ($2000 to $5000 potential)
2024-01-16 SPX 5970c $2 → $5 ($2000 to $5000 potential)
2024-01-17 SPX 6000c $8 → $17.2 ($8000 to $17200 potential)
2024-01-17 TSLA 430c $2 → 5.20 ($2000 to $5200 potential)** Round 1
2024-01-17 TSLA 430c $2.30 → 9.9 ($2000 to $9900 potential)** Round 2
2025-01-17 SPX 6000p $0.50 → $5 ($500 to $5000 potential)
2025-01-17 SPX 6020c $0.50 → $0.30 ($500 to $300 stopped.) ** was a combo trade with the 6000p
2025-01-21 SPX 6035c $5→ $15 ($5000 to $15000 potenital.)
2025-01-21 TSLA 440c $2.90→ $5.30 ($2900 to $5300 potenttal.) **dipped to 2.58. alerted 2.50 entry wanted.
2025-01-22 NFLX 950p $3.25→ $10.60 ($3250 to $10600 potenital.)
2025-01-22 SPX 6090p $1→ $5.80 ($1000 to $5800 potenital.) **dipped to 0.65
2025-01-23 SPX 6110c $0.80→ $8.60 ($800 to $8600 potential)
2025-01-24 SPX 6100p $3.30→ $2.30 (stopped) ** round 1 stopped
2025-01-24 SPX 6100p $1.50→ $12 ($1500 to $12000 potential) ** round 2 we banked
2025-01-24 AAPL 222.50p $0.25→ 0.80 ($2500 → $8000 potential)
2025-01-24 AAPL 222.50p $0.25→ 0.80 ($2500 → $8000 potential)
2025-01-24 AMD 123p $0.10 → 1.72 ($1000 → $17200 potential)
2025-01-27 SPX 5950p $9 → 40 ($900 → $4000 potential) ** premarket trade
2025-01-27 SPX 5950p $1.50 → 3.50 ($1500 → $3500 potential)
2025-01-27 NVDA 117p $1.5 → 5.4 ($1500 → $5400 potential)
2025-01-27 AVGO 200p $1.8 → 9.10 ($1800 → $9100 potential)
2025-01-28 SPX 6040c $8.50 → 33.50 ($8500 → $33500 potential)
2025-01-28 SPX 6080c $0.20 → 2.25 ($3500 → $22500 potential)
2025-01-28 SPX 6070c $0.70 → 6.20 ($7000 → $62000 potential) *Round 1
2025-01-28 SPX 6070c $0.90 → 6.20 ($9000 → $62000 potential) *Round 2
2025-01-29 SPX 6000p $4.50 → 12 ($4500 → $12000 potential)
2025-01-29 SPX 6060c $1.5 → 5.20 ($1500 → $5200 potential)
2025-02-03 SPX 6000c $5.5 → 22 ($5500 → $22000 potential)
Swing Alerts
2024-01-13 TSLA 430c $1.30 → 8.82 ($1300 to $8820 potential) **alerted exits at 6.50 and 8
2024-01-15 GS 610c $2 → 8 ** exit on 1/16
2024-01-15 GS 610 $2 → $16 ** missed reload on dips. exit on 1/17
2025-01-16 SPX 6000c 1/17 $3 → 17.20 ** dipped to $2 on Thursday, exit majority at $12.
2025-01-21 SPX 6070c 1/17 $6.50 → 30+. *exit on 1/22
2025-01-21 AVGO 242.50c 1/24 $2.50 → 6 *exit on 1/22
2025-01-21 ORCL 180c 1/31 $2 → 11 *exit on 1/22
2025-01-22 NVDA 145p 0.75 → $2 *exit on 1/23
2025-01-23 ORCL 190c 1/31 $2 → 3.20 *exit on 1/24
2025-01-27 META 700c 1/31 $7 → ? rare e/r yolo **hope to sell 50% at $14 make it risk free hold into report.
2025-01-27 AVGO 225c 1/31 $0.25 → 2.50 **reached on 1/30 but I didn’t sell and got stopped at 1.50 and reloaded at 0.35-0.40
Credit Sell Alerts
2024-01-14 SPX 5800/5795 bull puts for 1.50-2.50. $2000 credit potential using 10 contracts and $1000 risk.
2024-01-15 SPX 5950/5955 bear calls for $2→0. $2000-4200 credit potential. Round 1 dipped to 0.75. Round 2 ran to $4.20 and then dropped to 0.
2024-01-16 SPX 5950/5955 bear calls for $2→0. $2000-3000 credit potential. Round 1 dipped to 0.75. Round 2 ran to $3 and then dropped to 0. ** not a typo, same play paid.
2024-01-16 SPX 6020/6025 bear calls for 3.50 ** DID NOT FILL. (the 1.50 at time of alert went to 0)
2024-01-21 SPX 6035/6050 bear calls for 2 stopped 2.50
2024-01-27 SPX 5950/5945 bull puts for 2.50 → 0 **premarket
2024-01-30 SPX 6060/6055 bull puts for 4.50 → 0
**Past Performance is not indicative of future results
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Trade Recap for Mon Feb 3
GOLD BOLD ITALIC = price action signal
WHITE REGULAR = action to take/taken
GREEN REGULAR = trades I should have taken
SPY / SPX
This was the major trade idea I had and took advantage. I called it a day. when SPY back tested 596 that provided another long opportunity.
Don’t
Lessons to learn:
Have no failed to go long after volume reversal when over 5 level gap!
pay attention to option scanner‘s credit sell
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Education - How to Join a Strong Trend
The process I typically follow for joining a strong trend are as follows:
All day grinder: join on dips to 20ma
Multi-day grinder:
Join either on support test of morning lows/failed breakdown reversal
Join at vwap mid day or end of day
Keep it simple. Don’t chase, wait for support levels for great risk/reward entries!
Education - Systematic Profit Taking
How do I take profits? I keep it relatively simple. Depending on the entry and range to the next levels I typically with take profits 50-100% of my profits at 3-10R and then raise stops to above entry with a goal of letting runners take me to the next level or 2 and to then reload if I believe we are consolidating before the next leg.
I then repeat the same process on the reload.
Let me know in the comments if you have questions or would like to see examples, I’ll share them.
Trade Ideas - Plan for Tues Feb 04
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.
Ideas
Going to wait for JOLTS at 10am. Overall appears like a strong market and 600 is about to be reclaimed on SPY.
Here is what I am looking to do…