08:32 am: “Futures selloff following CPI numbers as inflation stays hot, which keeps the FED mandate intact to keep raising rates to fight inflation.

08:33 am: “Morning focus on gapping down stocks to see if able to bounce on the first 5-15min on day to fill morning gaps or drift lower into new year lows.

Morning Trades: I started the day looking for an oversold bounce so I ride AAPL AMD and TSLA Calls several times for a great cash flow. Closed the trades a bit too soon, as some trades got more 10x the money, but happy with my gains.

Loss review: I didn’t let any stop hit and managed my risk well, so very happy with the way I’m using my risk management rules.

Key Takeaways: Oversold, can get oversold, BUT don’t buy the highs and sell the lows. After a big extended down move, an oversold bounce was expected, so you build your trading plan based on that, so when time comes, you pull the trigger.

Look Ahead: Today was a great reversal buy day following very oversold conditions, BUT one day will not make the trend. We are still inside a bear market, going into earnings season and no one really knows if inflation peaked or not, so take it day-by-day with an open mind.

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