Freaky Fast Profits Portfolio (8/18/20)

Today was a pretty blah day for us after yesterday’s big gains, as we finished the day down about 1% ($150). The day began with TD Ameritrade’s Think Or Swim platform not working for the 2nd day in a row. Combined with the fact that I’m flying to Minnesota Friday for my brother’s wedding, I used that to lighten up my portfolio and take some profits. Wake up, Ameritrade, or people will find somewhere else to trade. We’ve already noticed we get much worse fills on our orders with you than we do with Tasty Works. Get your stuff together.

We sold out of our winning VIPS position into earnings. We sold out of a CGC option at about a $70 loss. That remains a mirage of an opportunity. We sold a portion of our winning positions in TMHC, NET, RDFN and the rest of our QQQs. Again, not because I’m not bullish in the Qs, but because there are better places to be than there. If you ask me, QQQ is headed for $300.

We broke a rule of mine and bought a SPOT Oct $350 call for $245 on the open as it briefly popped out of this chart pattern. (Don’t buy options on the open without selling another option against it.)

Unfortunately, it fell back in and we’re down $48 on that trade rather quickly. If it didn’t break another rule of mine, I’d buy another one at that price in a heartbeat. This is a fantastic chart. But after not breaking out today, I’d say it’s somewhat likely to trade back down to the $240s before trying to break out again.

Today’s big gainer was DKNG (long live the King) up 7.3%. It is now up nearly 18% from 8 days ago, when I called it a screaming buy, and looks poised for more. We made almost $100 there.

ADBE performed nicely, up 2.6%, and still looks great. We added 2% in ARNC, which was one of yesterday’s additions. Losers today include our big NVDA option trade which we’ll be selling tomorrow. It dropped almost $100, but is still about $700 in the black. Other than that, not much happened.

That’s all for now, we’ll be back tomorrow morning with new trades if we have any, or with an update tomorrow night if we don’t.

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