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Trade Alert: Nibbling some IWM puts and trimming some 3-5 baggers

February 6, 2018 by Cody Willard

I just finished my first 30 minute 1-on-1 chat with a Trading With Cody Lifetime Subscriber. The 100 slots are going fast but there are a still a few available. Click here to learn more Trading With Cody 4 Life. 

Long-time subscribers know that “Trading” With Cody can be a bit of a misnomer because we mostly just try to invest in great Revolutionary companies and hold onto them for the long-term (and we try to short crappy companies in declining sectors too). But when the markets get a bit crazy and/or I see opportunity, I do step up my trading a bit.

Yesterday in the Trading With Cody Chat Room, I’d answered the following question:

Q. Thanks for Trade Alert last week telling us to buy puts. What is your feel about market short term ? Do you think sell off is not done ?

A. Feet to fire, I’d guess we rally 1-2% tomorrow and/or Wednesday from these levels. And then another 5% whoosh down perhaps. And then sideways for a few weeks.

And here we are with the markets up 2% today. I’d also noted yesterday that I might buy buy some puts at lower strike prices after we trimmed some yesterday. So here’s what I’m doing right now:

I’m nibbling a few IWM puts that expire in March with strike prices at $144 to about $148.

I’m also going to trim about 5% of my Nvidia, Facebook and Sony, as I’ve got 300-600% gains in those stocks and I’m thinking it’s a good time to just lock in a little more profit on them and add a bit more to my cash cushion.

Also a reminder that I’ll be speaking three times at The Money Show Orlando:

Bubbles and Crashes and Fraud: Stock Market and Economic Themes for 2018
February 9, 2018, 2:30 pm – 3:00 pm
Focus: STOCKS
 
The Hottest Stocks for 2018 Lunch Panel*
February 10, 2018, 11:45 am – 1:15 pm
Focus: STOCKS
 
The Bitcoin Revolution and the Great Cryptocurrency Crash: What to Buy, What to Avoid, and Everything Else You Need to Know
February 10, 2018, 2:30 pm – 3:15 pm
Focus: CURRENCIES
 

 

Related posts:

Trade Alert: Shorting a highflyer and letting go of F5
Trade Alert: Taking profits on our puts, buying some cheaper puts too
Trade Alert: Gold miner trim and two nibbles
Trade Alert: Two nibbles and an update on my newborn
Trade Alert: What Could Go Wrong with a Relentless Rally, Daytraders Everywhere, Momo's Highfiving?
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Filed Under: Trade Alert

Disclosure: At the time of publication, the firm in which Willard is a partner and/or Mr. Willard had positions in some of the stocks mentioned above although positions can change at any time and without notice.

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This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or cryptocurrency or token any other product or service by Cody Willard or any other third party. Furthermore, nothing in this is intended to provide tax, legal, or investment advice and nothing in this should be construed as a recommendation to buy, sell, or hold any investment or security or cryptocurrency or token or to engage in any investment strategy or transaction. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your business advisor, attorney, or tax and accounting advisor regarding your specific business, legal or tax situation.

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