We’ve gotten some good snow here in metro Detroit. Here’s the view out one of my office windows:
We’re not incredibly prepared for the snow. We can’t get our cars in the garage because all the junk we’ve removed from renovating the house is piled up in there. We’re ordering a dumpster next week to get rid of it all and keep the cars warm.
I haven’t been doing much in the markets. I’m fully out of my EURUSD longs. I didn’t make any money on the trade really. The charts are a complete mess and I’m starting to look more at GBPUSD.
I’m so board that I’m making some options plays. I went through a phase where I was trying to day trade options, but failed miserably. So I stay away from that. But I tend to do well with slightly longer dated expirations. So I’m toying with that a bit as I see some setups I like.
I bought some Twitter calls yesterday. They are $24 calls with a March 16 expiration date, and I picked them up at $1.21. Twitter is currently trading up over 6.5% as I type this. I’m seeing chatter of a buyout rumor in my Twitter feed (ironically), but I can’t seem to find anything on it online.
That said, I bought the calls because I like the chart:
But hey, I’ll take a little luck. With three months left until expiration I don’t mind holding longer.
I’m not a fan of Snapchat. I don’t like the company’s organization structure, and I believe Instagram stories are killing Snapchat.
But the stock has been beat up pretty bad. And I’m playing a lower timeframe setup on this one:
The 50-hour SMA has been providing great support, and we’ve been seeing nice consolidations followed by breaks higher. $17.00 is the line in the sand. If we can get above that, it may run a fair bit higher.
I bought some Dec. 29 $16 calls yesterday for $0.57 and they’re currently trading at $0.65. With two weeks until expiry, I think the odds of at least testing the $17 level are very good. Potentially breaking it and moving higher has a shot too.
So I like the gamble.
Crypto continues to kill it
My crypto portfolio is currently at all time highs. I really want to spend more time writing about this space but I just don’t have it yet. We need to finish working on this house before I can dedicate more to crypto. There’s so much research and learning to do!
For now I’m happy dabbling and loving the gains.