Based on the points outlined in my post below from this morning, and once we saw the ISM report for the Services sector come in "better than expected", it was pretty much a slam dunk that we were going to rally higher all day, so I loaded up with calls on the SPY, IWM and FAS at about 10:10 this morning, and traded out at right around 1:00 PM for a seriously good day. Here's the thing with day-trading - often times, even the best set-ups have a pretty healthy dose of risk, and you end-up stopping out at break-even or a manageable loss, but every once in awhile, the market hands you a guaranteed winner (if you know what to look for), and today was one of those days. It's almost like being one of those bankers back-stopped by the Government's too-big-to-fail policy. You can leverage up a large position and really make a killing, because you know that Uncle Sugar, Benny B. and their Wall St. cohorts are not going to let the market drop today. Sure, I could've made even more if I would've stayed in until now (3:30 PM EST), but I had a target of 116 set for the SPY, and similar levels on IWM and FAS, so I cashed out when they hit. There's another saying that I learned early in my trading experience - "Pigs get slaughtered!" In other words, don't get greedy. It has served me well.
On the downside, I just stopped out of my Amazon position a few minutes ago, but it was only a 50% position size to begin with, so the loss was small, and barely put a dent in the gains from today's trades. I was clearly a bit early for my Amazon play, but I still like it, and will likely re-engage later this week.
Hope all of you had equally profitable days.
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