Good Day Rookie Bloggers! Last week was epic for our diagonal trade on CROX and as the markets always do they have turned around. So what does this mean for our trade? That is the focus this week.

We have the good, the bad and the ugly in the current market. As we have said for many weeks now we have the same in our CROX trade. Acutally everyday of the year in the markets offers the good, the bad and the ugly and how those things look to you is often a matter of perspective. There is a nautral inclination to wish for things to happen in the markets. For example, perhaps you just got triggered into a bullish breakout trade, then you are probably wishing that the stock shoots to the moon and rightfully so as that was the plan going into the trade. Its completely ok to wish for good things to happen but its not ok to be prepared for bad things to also happen and its not ok to fear the ugly things happening as well. So lets look at the good, the bad and the ugly of the market in general and our CROX trade as well.

First the market, the good news is the markets are at or near all-time highs and that has made the bulls happy in recent months. The bad news is that intraday volatility has picked up and the market as a whole is flirting with overbought conditions, this is not what the bulls want to hear but it is reality. The ugly part of the market is something like Gamestop (GME). The fear and greed that is being shown in the movement of that stock recently are going to end badly at some point. There will be those that will do well with that kind of movement but there will also be lots of FOMO and it ultimately will leave some holding the bag after it comes back to earth.

Now, the good, the bad and the ugly of our CROX trade. The good news is that we rolled up our long call last week and closed a monster profit on the trade right before it decided to reverse back down. The bad is that CROX didnt keep going like GME. The ugly is really no there in my humble opinion, the ugly might be how greedy I feel about taking more money out of this trade by adjusting it further to our benefit which you will see in the video. I am of course not really worried about being greedy in this because the reality is we used this type of trade exactly for the reasons its working out for us. We chose this type of trade because it gives us both the benefit of direction and the benefits of time decay as well.

So, check out this week’s video for the update to the adjustment and then enjoy the good, the bad, and the ugly of this trade and realize that we profited from these things because we were prepared from the outset and we made the necessary judgment calls to ensure that we got all we could from this trade.

Trade Well,

Coach “Old Money” Holmes