Yesterday I owned 2000 Shares of Micron (MU). After the close yesterday MU announced earnings. Lucky for my the results were very good. Today the stock opened up over $2. After looking at the candlestick chart from past great earnings results, I noticed the stock went up but than dropped for a day or two. I also noticed the stock was at the top of it’s daily RSI chart. I don’t know if that drop after two days will happen this time but you know I love taking profit. Sooo, I decided to sell half my position, which is 1000 shares. I kept the other 1000 shares because I have a $40 LEAP sold against the shares. I do plan on buying more after a possible pullback. These shares I just sold I bought 2 days ago at $35.55 and I sold today at $35.20. Not a huge profit but on the 1000 shares it’s $650. I’ll take it and hope for a pullback for a day or two.
9/25/17 – Buy 1000 Shares MU @ $35.55
9/27/17 – Sell 1000 Shares MU @ $36.20
Profit +$650
Money in the mattress
As I write Micron is a little higher than where I sold. Remember, I still have another 1000 shares.
Steve
The Options Coach