Swing Trader Pro: Afternoon Briefing (10-05-2022)

The $QQQ closed its gap up above at 283.42.

I spoke about $AAPL this morning, noting that it was below its eight-day moving average and could trend lower to 143. It did exactly that then headed back uphill.

Here's how I traded today:

• I went long $V at 185.11 and sold at 186.18. It held the eight-day moving average, and I was looking for a move to yesterday's high (186.21).
• I went long $PDD at 67.70 and sold at 68.10. I was looking for gap fill from Sept. 15.
• I shorted $RBLX at 37.53 and covered at 36.91. I was short this one on Oct. 4 and covered for a loss. Cam back to it today and was profitable
• I bought the $SPY at 373.07. I sold three-quarters of my position at 374.12, the rest at 375. It held support at 372.30

I booked two losing trades today:

• I went long $FDX at 158.68 and sold it at 156.40.
• I shorted $XOM at 98.30 and covered at 98.80.

I'll be back for these names.

Here are a couple of setups I mentioned in the live trading room. I can't take every trade. But I can call them out.

• I said $AMD looked like a good buy at 65.90 for a move to 66.60, then 67. It went to 68.64 before settling.
• I said $WYNN was a good buy at 71.40, and it ran to 72.69

Let's see what the market brings tomorrow.

We'll see you live at Thursday's open to start the trading day.

And please reach out with any questions.

All Star Charts Team