One of my favorite moves at market open is looking for honey badgers. What’s a honey badger?
It’s a stock that defies the relative strength of the market because they’re benefiting from this world-wide pandemic, which makes them explosion candidates going into earnings. When I have my eye on one in particular, I’ll first wait for the earnings report to come out and wait about 15 minutes. If by then I can confirm the momentum’s leaning towards positive, that’s my signal to get in.
I’ll buy contracts that’re 15 days out and ride the wave until the momentum or my contract expires.
Another stock I’ve been checking at market open is Tesla.
A lot of people like to stay away from Tesla because of its high volatility but I love trading it. In my mind, though some days it’s down, on the whole it’s a bullish stock. Specifically, I’m looking to trade it to around $850-$900, and any pullback between now and then would just be a great opportunity to buy it on sale.
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