Dot your T's and cross your eyes

Hello traders, how are you doing?
Better than the markets did today hopefully
$DJI ( ▼ 0.84% )  
$SPY ( ▼ 1.07% )  
$QQQ ( ▼ 1.86% )  
$IWM ( ▼ 1.77% )  

Every time I share or “highlight” a trade I always share this with it and before it

Here at theoptionscoach.net
We don’t chase stocks
We don’t go long if a stock is red
We buy at the MID price or better
We set STOPS and HONOR them

Those are our rules
This morning I highlighted $META ( ▼ 2.68% ) it did not have a good day today
We never got our entry signal since it went red and we do not go long if a stock is red, it’s in our rules……
My thought process was not yesterdays close, one up day alone doesn’t make a reversal
There were a combination of factors that went into it
You could say “well it’s only down about 2.6% on the day”, that’s true
But it needed to defend $620.00 at all costs, and it didn’t
Market Makers are relentless with this one for the one time tax announcement at earnings, and they are doing everything they can to punish it
Right now META as a stock, not a company, but as a stock, is nothing more than dog s—t at its very best. Realistically investors should consider the possibility of the stock revisiting the $570.00 range. It has to break $610.00 first though. And that’s okay, $570.00 is a very well defined area and would serve as great support should it reach that. Only time will tell

$TSLA ( ▼ 3.5% ) well if you haven’t heard yet Elon just got it 1T pay package
That could buy a lot of donuts for the office 🙃 

Our old friend $JPM ( ▲ 0.56% ) is still climbing after I highlighted it a week ago
We might revisit that one in the morning

Years ago when I was studying how to trade Gaps I learned some stuff from a guy that used to be a trading manager at $GS ( ▼ 0.7% )  
One thing he said was this:::
“There will be days in the market that you will dot your I’s and cross your T’s and it’s still going to go against you”
That is life in general
And that is how today felt, but then again, we lived to trade another day 🙂 

The Options Coach