Bye Bye META 👋

Anti-Trump, FTC news reaction? Who's next?

November 17, 2024

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Not in Bullseye?

Then you missed THIS:

*Note: Trading is hard, results not guaranteed and should not be expected to be replicated typically.

                      

Hey Folks, Jeff Bishop here.

There's something extra satisfying about nailing the ONE day the market pullback after it's been nothing but bullish for three weeks.

“What are you talking about, Jeff?”

Thursday my pick of the DAY was META puts in Bullseye Unlimited - my daily top trade (online enrollment is closed right now in Unlimited).

Here was my reasoning behind this pick:

“Coming into today, I am bearish on the momentum for QQQ.  I have been watching the rallies all week, and they keep getting sold into at these levels.  $515 is a very tough spot for QQQ to break through, and it is creating a new resistance point. 

That is great because when it finally breaks, it will give me a new “buy signal” I can use to go after stocks.

Right now, QQQ is trending slightly under the 20-hour moving average, so I am looking for stocks that have more downside potential than upside.

One of the weakest big tech stocks since the election has been META.

That stock has not participated with the overall market rally, and it is close to breaking below the $575 support level.  I think this makes a good candidate to bet against right now, especially if the market overall slips a bit.”

So with that, I got my orders for Puts in early in the day


And watched things go my way, locking in some profit in on half the first day 👍
 

However, I watched the remainder of my winner become a loser by market close 👎


Then, almost like magic, I woke up the next morning to a nice reversal on META to the downside 🎉


And here’s where my balance was on Friday morning (it got even BIGGER as the day went on!!)

*Note: Trading is hard, results not guaranteed and should not be expected to be replicated typically

Not too shabby đŸ€‘!

Not the easiest of course (trading is NOT for the faint of heart if you haven’t noticed that by now!!!)
 but this was fairly textbook (for me at least). 

When things go my way, I try to take some winnings on half the position and let the rest ride.  

That’s called trim and trail.  

And what I aim to do every day inside of Bullseye. I always say don’t let a green trade go red – use your discipline in trading and try not to get toooo greedy!

Look, if you haven’t given me a chance yet
 the best way to get started is by joining Bullseye Trades.

Where I use MY OWN REAL MONEY


If you’re new to trading options, this is a great place to start and see WHY I trade WHAT I trade (paper trading is always recommended for new traders).

I hold a LIVE market session Mondays at 11AM EST to walk you through the trade and the overall Market in general – bring your questions and join me this Monday!

To YOUR success,

 

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