New traders were given some advice by veteran trader David Green on Tuesday morning. Green was asked about shorting Apple Inc (NASDAQ: AAPL) and Facebook Inc (NASDAQ: FB) (NASDAQ: FB). Both stocks have recently risen to fresh all-time highs.
On Tuesday’s Live Trading With David Green, he remarked, “You don’t short a stock just because it’s up a lot.” “You short a stock when it reaches a technical level that tells us it’s time to sell. The bottom line is this:”
David Green hosts Live Trading With David Green, a morning trading show in which he trades the market live on Benzinga. On BenzingaTV, the show airs Monday through Wednesday at 9:25 a.m. ET.
Green went on to say that he is a long-term Apple fan who has owned the stock since the 1980s. Moving averages are used by Green to assess support and resistance levels.
Green also acquired Mediaco Holding Inc (NASDAQ: MDIA) for a quick day trade and put an order to buy Goldman Sachs Group Inc (NYSE: GS) shares at $372 on Tuesday’s show.
The Stocks That We Talked About On The Show
Green was optimistic on Orbsat Corporation (NASDAQ: OSAT) and pessimistic on Virgin Galactic Holdings Inc. (NYSE: SPCE).
Green primarily engages in brief day trades, both long and short. He places a purchase order with a tight stop loss when a stock hits one of his pivot points.
Green looked at puts on AMC Entertainment Holdings Inc, just as he did on Monday (NYSE: AMC).
“You may earn money if you buy some of these $34 options and the stock continues to fall,” Green added. Green looked at options that expire on Friday, saying that puts are hazardous because the expiration date is approaching.
Click here to view the complete episode, or watch it in the clip below.
The Show’s Background:
The Wall Street Global Doing Academy of Benzinga follows Wall Street veteran David Green as he trades live at market open and breaks exactly what he is trading today. The show airs live on Benzinga’s Youtube, Twitter, and Twitch from 9:25 a.m. ET Monday through Wednesday.
Regarding the Host
David Green has worked on Wall Street for 30 years, including 13 years as a specialist on the New York Stock Exchange floor. Since leaving the floor, Green has devoted his efforts to assisting retail traders. Green and colleague floor trader Peter Tuchman created Wallstreet Global Trading Academy, a full-fledged trading school. Click here to read more about the course, or like it on Facebook.
(c) Benzinga.com, 2021. Benzinga does not offer financial advice. All intellectual property rights are reserved./n
