PivotBoss Trading Room PM [Apr 11, 2019]: Taking Profits in $VMW

Apr 11, 2019 — THURSDAY AM

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 contiune to trade mostly within their respective ranges, which are quantifiably more narrow than average range, which suggests a big move could be ahead soon. Until then, further range-based trading could be seen, with an upward bias. $WM took opened the day with a large gap down on an analyst’s downgrade, so I closed this trade early, but am considering re-entering the trade, as it continues to be a great long opportunity. I took profits on half the trade in $VMW at 3.15, and will be looking to take additional profits at 195 and 200. 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 1/2 position MAY 185/190 call spread at 1.63, took profits on 1/2 position at 3.15
  • $RH Sold APR 115/110 put spread for 3.45, took profits on 1/2 position at 1.70
  • $MXIM Holding AUG 60 calls at 2.45
  • $WM Closed MAY 105 calls at .43 on gap down (bot .95)
  • $YUMC Working order to buy MAY 42.5 calls for 2.40
  • Buy Candidates: $YUMC, $ALK, $WM, $MOMO
  • Sell Candidates: $CPRT

Cheers!

— Frank Ochoa
Author, Secrets of a Pivot Boss