I will be missing the entire morning and might be back around the close so no real game-plan for me off the open. I want to be frank with everyone, some people excel in this environment but I just don’t. Moves out there are not the cleanest and the risk you are taking just to be whip-lashed right out of a position are higher than normal. I would rather go with my strength and play the market on my terms vs. the trades it is giving right now.
Either way, Might not even trade rest of the week and see if things calm down (I don’t expect them to) before I really start to hammer into trades. No point in taking risk when the markets arn’t giving me what I want. With that said, there are still some names I want to be watching rest of the week and they are.
NET – Will set a price alert for $22.75s and $23’s If market rebounds at any point and this is still up in this area I do expect a decent $2-3 move on the name.
AAL – Probably see this on $15s with any more market panic. Setting alerts at $16 and $15.50 as they are the only prices I really care about.
HTZ – Amazing 50% haircut on this one. $10 washout in coming days for bounce.
RCL – I can see all these names going at least 20% if not more lower in the coming days. It will be brutal if the Virus really starts to slow the economy but let me tell you, if these get overly crushed, it will be a once in a lifetime trade for me, regardless of Bankruptcy or not.
CCL – $28’s or lower for bounce.
NCLH – $28s or lower for bounce.
Thank you for your transparency. I’ve felt like a fish out of water for the last week and a half. It’s comforting to know another trader far more skilled than me views this volatility in the same light.