SPY rallies over 605 after CPI. Will it hold? Trade Ideas for Wed Jun 11
What's stopping you from making 500-1000%? Stop overtrading, and make more in less time. Read on to learn how I do it.
What a day yesterday!!!! We had 3 amazing winners in SPX and that is not evencounting our TSLA 0.00%↑ swing ! which should be over 500% in under 3 days!
SPY / SPX
IDEA: 601.50 reject (not shared in blog)
I like to use NFLX as a harbinger and yesterday it was dumping. That gave me the signal after the 601.50 rejection to consider a short anticipating vwap break and gap fill and possible more.
I chose the 6000p as the vechicle and here is the trade plan using 3.5 entry and 2.5 stop that Edge Trade Planner created.
During consolidation 6000p dropped back to 2.50-3 and the on vwap break, hit every target from the Trade Planner! Edge T3 was 13.5 while SPX spiked to 13.6!!! Amazing!!!
Once SPY reclaimed vwap,it turned into a failed breakdown reversal and long bias developed. However its now moving into Lunch hour and I don’t want to trade that.
So I told members I’ll be back at 3pm but while at lunch I remembered that volume is coming in at 2pm. so came back early and that was rewarded! I would have missed a massive winner if I waited for 3pm.
Let’s go over it.
IDEA: 603.50 target coming
This was masterful imho. I alerted I wanted 6030c for 0.50 to 1.50 for a squeeze. if you count 2 levels up that is 603.50 on SPY and 6045 on SPX. That means SPX 6030 will hit $15 if I’m write. It hit $16.60!!! Time in Trade: 40 minutes for 1000% !
IDEA: SPY 603.50 will reject
I missed the short entry on this idea as I was teaching and explaining why the long to THT PRO members.
SPX 6030p would have paid a nice 200%. Going from 1.60 to 6.80. So I assume scoop at 2 and sell at 6
IDEA: SPX will squeeze in last 5 minutes
Give the chop and wild moves at the close I plan puts but I unfortunately did not alert the long side that I took. things moved so fast it was hard to. I placed orders for SPX 6035c for 0.40 and 6030c for 0.40.
6035c filled! and ripped to $4!!! for another 1000% payer
BOOM!!!!
TSLA
IDEA: TSLA will recover to 337+ this week.
On Friday I started a swing on TSLA 310c anticipating that this week it will recover to 330+
Monday we got the perfect dip to 281 to add at $3
This morning the real payout is coming!!! TSLA hit 336 in premarket!
Above is the chart on TSLA 310c.
There is massive opportunity in this market. Are you taking advantage? Literally have planned and alerted trades that pay over 500%! You will need patience to wait for entries and the exits. But if you have self discipline or trust bracket orders, my process can help you get the results you want.
Thoughts from Monday’ price action:
Market continues to sell when near highs
Large Dips continue to get bought
Be Patient for entries especially on SPY/SPX given the low volume grind up.
What is Two Hour Trading?
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
If you are busy and want to see my commentary and ideas in real time consider joining THT-PRO.
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 or failed breakdown reversal at key level
Join at VWAP mid day or end of day
Keep it simple. Don’t chase, wait for support levels for great risk/reward entries!
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.
Securing Profits on Options overnight
Sometimes you get this massive paper gains overnight on options but you can’t secure it right? Well if you have a big enough account and a margin account if you have calls you can. What you need to do is buy or sell the stock overnight. and the option turns into a hedge against that position essentially securing your profits.
Trade Ideas - Plan for Wed Jun 11
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
Market is gapping up nicely. Following process we should be looking for profit taking initially while watching for possible all day grinder gap and go to develop.