Continuing yesterdays back to school alphabet method, today we are graced with the "G"s. Stock futures are down sharply as Russia has supplied its soldiers with faulty invisibility cloaks. It seems the only people in the world who don't know Russia is invading Ukraine is Russia. Hmmmm.
It's nothing but a G thang!
$GOOGL and $GS. One I am going to buy calls on the dip, the other I think is a good candidate for a pull back.
Gimme the microphone first, so I can bust like a bubble
Compton and Long Beach together, now you know you in trouble
Ain't nothin' but a "G" thing, baby!
$GOOGL I have traded almost every week in August with little success. What I do know is that when $GOOGL does rally, it will move to record levels, it will happen swiftly and without warning. Most importantly it will be a very profitable trade.
A few weeks ago I was busy pointing out $AMZN off support, I see a similar support level for $GOOGL at $580.
Two trades I am looking to make here:
Next weeks $595 calls $1.00
This weeks $587.5 at $.80
Well I'm peepin', and I'm creepin', and I'm creep-in
But I damn near got caught, 'cause my beeper kept beepin'
Now it's time for me to make my impression felt
So sit back, relax, and strap on your seatbelt
You never been on a ride like this before
$GS has been rallying and recently hit a multi-year high. I've been looking for the financials to rally since bottoming earlier this year. I still like them, especially with interest rates coming back. But for now I think $GS could see a healthy pull back from current prices. I will be looking for a few puts to capitalize on this possible move.
Next weeks $175 puts at $.55