Facebook

Today was a very bullish day, bonds fell by a couple of basis points which is good for the tech sector. Also Ukraine and Russia are having some sort of talk in regards to cease fire which was probably why investors were feeling bullish. I am still long on $FB. This morning I sold a weekly call. I bought around $219.80 last Friday and held till this morning once I saw a bullish rally this morning. I should have been more patient because my contract did not expire till April 29th. So I had 1 month to sell and collect more premium. I left my other $FB leap to still run. I am currently up 43% on a contract worth 19.00 per share. My OTM turned ITM. Which is the overall objective of my trading style. Catch the very bottom once there is no more selling and leap a OTM. Overall I am bullish on Facebook considering earnings is next month. I am uncertain of the far future but I do still fell that Facebook has more gas in the tank. I was observing the daily candle sticks for Facebook today and we did gap up in price which is good for longs. I think we can see 240 possibly 245 by the end of the week. I just have to remain patient and stick to my plan and my edge. $VIX also fell to around 18$ today so that tells me that bulls are wanting to come out and play. I don't know how long this bull market is going to last considering the 2yr and 10yr inverted today.

Happy trading,

Julian
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