1/27 - 2/2 Day/swingtrades

Below, I highlighted a few daytrades that I took over the past week. I'm also carrying a position in UYG Feb 3 Calls. I started buying last Wednesday as the market rallied. This is a speculative trade on the assumption that the new President will not let the markets fall much further. Based on the holdings within UYG, I think the downside is limited at this point. I'll close the position if UYG dips below 2.95.

AAPL (1/28) - As I've highlighted before, I like using the opening-range high/low for entries/exits. These points indicate pre-open support/resistance levels that play out through the remainder of the day. AAPL gapped open and consolidated for about an hour. I entered shortly after the break of the opening range high with Feb 70 Calls. I almost sold out on the first dip below the 20-SMA (93.5) but held based on the market strength. I later exited at the highs of the day on the double-top. The declining RSI and MACD clued me in that the 2nd attempt at 95.00 would not hold.

FAZ (1/30) - I didn't see too many good setups last Friday. So, I waited around for FAZ to consolidate around the moving averages to give me a reasonable stop placement. I had a buy-stop trigger above 50.50. I sold a little while later towards the close when the doji developed on the 5-min chart.

FAZ (2/2) - I've highlighted this setup before...FAZ crossed the moving averages and retested them for support. I entered as it bounced off the MAs and quickly pyramid, using the 20-SMA as a stop. I sold half as FAZ printed 2 red bars and bounced off the 10-EMA. The markets were choppy and I wanted to walk away with some profit. With that out of the way, I set the stop at 52.00 for the remaining half and closed out the position when it hit $2.00 profit on the initial entry.