PivotBoss Trading Room PM [Apr 10, 2019]: Taking Profits in $RH and $TMUS

Apr 10, 2019 — WEDNESDAY PM

WATCH THE APRIL MARKET OUTLOOK RECORDING: Watch the replay of our April market outlook webinar, which reviews some of our candidates from Q1, and also provides great new candidates for Q2: http://pivotboss.com/2019/04/02/pivotboss-monthly-outlook-apr-01-2019-q1-winners-and-q2-prospects/

The ES, NQ, and CL each traded mostly sideways throughout the day, but could be building energy for a bigger breakout opportunity soon. Overall, the bullish trending structures remain intact, and pullbacks are to be bought until proven otherwise. I took profits on 1/2 the position in the $RH 115/110 put credit spread, and will be holding the rest for a max profit trade. I also took profits on a 1/3 of the position in $TMUS, as the stock has rallied nicely since our entry six days ago. I’m also looking to take partial profits in the $VMW call spread soon. I cut ties with a few stocks that weren’t moving anymore, like $WMB and $VZ. Here are the levels and candidates we focused on during the morning session of the PivotBoss Trading Room.

Topics Include:

  • $ACB Holding MAY 8 calls at 1.35
  • $RES Holding MAY 13 calls at .55
  • $TMUS Holding 2/3 position MAY 70 calls at 2.45, took profits on 1/3 position at 3.85
  • $VMW Holding MAY 185/190 call spread at 1.63
  • $VZ Closed the MAY 60 calls at .70 (bot .79)
  • $RH Sold APR 115/110 put spread for 3.45, took profits on 1/2 position at 1.70
  • $WMB Closed the MAY 29 calls at .60 (bot .73)
  • $MXIM Holding AUG 60 calls at 2.45
  • $WM Holding MAY 105 calls at .95
  • Buy Candidates: $YUMC, $ALK, $I, $IYT, $TER
  • Sell Candidates: $CPRT

Cheers!

— Frank Ochoa
Author, Secrets of a Pivot Boss