Stock Market

Markets had an interesting week, especially if you were trading the #AI stocks like NVDA and AMD. Both of those darlings sold off. NVDA looks to be firming up but it’s too early to tell. AMD is heading lower and I expect it to test the $180 level. I’d become a buyer around there. After transferring my brokerage account over to Interactive Brokers (referral link), I put on a single #options trade. I sold my first put to collect premium and bought a long dated put for insurance on MSFT. This is called a diagonal spread trade and I’m banking that MSFT will climb higher here. ...

This is the start of my weekly market reviews for my trading journal. This is my digital watering hole, where I can celebrate wins and commiserate losses. It’s where I’ll work hard to figure out my new trading strategy and find opportunities in the market. I’m an old trader, definitely not a bold trader. What a week! I sold my stock holding in NVDA for a 20% profit and closed out all my AMD and COST calls. I made 68% profit each for those option trades. Options trading is insane and you can make sick money with it. Of course, you can lose sick money with it too. ...

Trade log star date March 1, 2024. Today I opened my first option trade in a long time. Yes, I own the covered call writing ETF’s QYLD and RYLD, but this was my first call option in two decades. Why did I do this? Simple, because “stonks” go up, at least in a strong bull market. There’s such a market euphoria right now that people are blindly throwing money at AMD, NVDA, and host of other shit related AI stocks that there are new all-time highs being made daily. ...