BANK OF AMERICA:
- SOLD UAL 36 YOLOS (MISTAKE) FOR A BIG LOSS
- BOUGHT MORE TWLO 80 CALLS FOR NEXT WEEK
- BOUGHT UBER SEP 30 CALLS.
- BOUGHT UAL NEXT WEEK 36 CALLS.
TD AMERITRADE:
Bought following stocks:
- MOH
- OKTA
- TWLO
- TTD
- GOLD
- MNDY
- DAL
- GRMN
- SE
- ON
Sold following stocks:
- SPG
- NVDA
- VEEV
- MELI (half position)
- WYNN
- SMG
- QYLD
- RYLD
- XYLD
- DPZ
- VICI
Bought following calls:
- TWLO SEP 72
- DVN OCT 85
- IQ JAN 2024 5
- DIS OCT 124
E-TRADE:
Sold BL Stocks.
Bought following stocks:
- REAL
- JBLU
- ANGI
- IQ
- AAL
- RDFN
THOUGHTS ON MARKET:
When market went from 362 to 431 in a short time, it was overbought and expected to correct itself. As rightly predicted by Roy on August 22, we came back to the level of 390 and immediately bounced off from the oversold condition.
Whether we found a reasonable bottom or not - is yet to be determined, based on inflation print next week. If we have controlled inflation - Fed's threat to keep rate as high as 4% throughout the 2023 won't hold true and that is what market will appreciate. However, if we get a higher print on inflation number, we will re-test June Low's.
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