PivotBoss Trading Room PM [Apr 26, 2019]: Here’s How I’m Trading $SMH

Apr 26, 2019 — FRIDAY PM

LIVE SESSIONS ARE HERE! Live Sessions have been scheduled for both PivotBoss Masters and Swing Trade Pro 2.0 members! If you are not a member, now’s the time to join. Follow this link to see the schedule of events: https://mailchi.mp/pivotboss/lets-make-some-money

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/

Crude Oil took a hard day down today, but this may be setting up very nicely for a powerful reversal next week. While there were many stocks that took big hits during Friday’s session ($INTC, $TSLA, $TGT, etc), the ES and NQ continue to be bought on lows and continue to close near highs, which contniues to show the strength of this market. $SMH took a gap down today, but could be headed for a retest of 120 soon, which is why I sold another put credit spread to capitalize on this opportunity. Here are the levels and candidates we focused on during the morning session of the PivotBoss Trading Room.

  • $TMUS Closed last 1/3 position MAY 70 calls at 4.85 (bot 2.45)
  • $VMW Holding 1/4 position MAY 185/190 call spread at 1.63, took profits on 1/2 position at 3.15, took 1/4 profits at 3.89
  • $MXIM Holding AUG 60 calls at 2.45
  • $EW Holding JUN 185/190 call spread at 1.65
  • $SCHW Holding SEP 50 calls at .95
  • $IRBT Holding MAY (weekly) 110/105 put spread at 4.15
  • $SMH Sold MAY (weekly) 120/117 put spread at 2.05
  • $TGT Holding JUN 80 calls at 1.87
  • $TSLA Holding MAY (weekly) 265/260 put spread at 4.00

Buy Candidates: $SMH, $CNQ, $QRTEA, $IRBT, $TSLA, $ORLY, $RH, $ITB, $XHB, $NTAP

Sell Candidates: $AMRS, $DPZ, $JBLU

Cheers!

— Frank Ochoa
Author, Secrets of a Pivot Boss