Hey Market Pilots,
In my last newsletter, I left you all with a potential setup on BILI, which looked like a setup I took over a year ago on MDB and paid handsomely. I thought Monday would be the day for BILI to take off. It did pop, but only at the open. Then I was a little worried but held firm because price was basically where it was the day before. At least it was no worse off and I figured price was right at supporting MA’s
As it turns out, the tech stocks were waiting for ZM’s earnings report and once that was out (and amazing) stocks took off for the day. This helped to propel BILI all day long into a +10% gain. The real kicker for me was that because of the confidence I had with this setup up, I got a little wild and threw $80,000 on calls that Friday. That 10% stock move provided me with over 100% gain in the option. I could see price was extended, and I am not much of an options trader, so I took half of the position off around the +100% mark for me.
This trade, along with a few other solid winners, propelled my account to a gain of $93,000 for the day. On Wednesday, BILI’s stock went down a bit, which is normal considering the stock went straight up the previous day. Price seems to have found support at the 15 min 50 and the Hourly 21 EMA so I think there is more to go in this name.
Things certainly are getting crazy out there, but if the trend is up, then I will ride it.
Over and Out,
Your Profit Pilot.