A bit of a negative day for the Freaky Fast today, which prevented us from reaching that 20% monthly gain we had a shot at. Instead, we dropped $133, closing out August with a +$2469 gain. After taking out the $469 overage for expenses, that leaves us with 16K heading into September.
I made a few trades today, all posted on StockTwits (smartplays13). I opened the day by adding more shares of WORK as it rose above the high of Friday’s candle where we originally bought it. WORK would go on to rally nearly 3% for the day, and traded up significantly in after hours trading. Hopefully it stays there.
After that, I paid $239 for a November $55 call in MS (Morgan Stanley). Assuming this works, we will eventually make a diagonal spread out of it later. Then I bought a diagonal spread in IWM, buying the Oct $160 call and selling the Sep $162 call for a net expense of $277. Here’s the P+L graph on that.
We added to our ADBE position today. You may recall that we bought our original position on September 5 for $450 and then sold half of it last Wednesday for $531 when ADBE shot up 9% for no apparent reason. I said then that we’d probably buy it back lower, and today we were able to for $510.48 as it received a bit of support from its 21-hour ema.
Right after the Halftime Report, we added a new position in VIRT at $25.69 per share. Virtu has a strong 96 rating with Investors Business Daily, is in a solid group and has excellent earnings results. The stock has lagged, but it is bouncing off a rising 50-day ma on the daily, while at the same time bouncing off a 200-hour on the hourly chart, below. I love this setup.
Lastly, as I seem to do a lot lately, I bought DKNG a few times as it dipped lower, getting my last buy at $35.06. Learn this lesson from me so you don’t have to do it yourself, please. Don’t ever fall in love with a stock.
That’s all I’ve got tonight. It’s been a great first month writing and sharing and profiting. I appreciate the kind words I’ve gotten from some of you who are enjoying this. Feel free to leave any questions or comments below. Happy trading!