I am not worried too much about the downturn in today’s market. It did fall to the 20 SMA yesterday and at the moment, it is pulling back to the 50 SMA - well within the trendline previously established.
Bullish trades are hard to come by at the moment. I am finding that any names in the Tech or Communication sectors have already made their moves. I did find a good looking breakout trade and that will be in the Paid Member’s section.
Monday’s Bear picks are working out pretty well, so far… SBUX has already closed at the target profit. I aim to close most Vertical Spreads at 80% or better (of potential profit). For example, each SBUX spread cost .47 and I closed each position for .90 . That’s a profit of .43 for each trade - or you can think of it as 91% return on money risked.
I will include charts of all four Bear picks from Monday - IFF GPC SBUX ED
WMT is a Butterfly trade that expires next Friday and it’s still holding in.
-Good Luck and Happy Trading.
Disclaimer: This information is for educational purposes only. I am not a dealer/broker nor am I a licensed investment advisor. This is not a recommendation to buy or sell any securities. I do not know your personal risk tolerances or financial situation. Never risk any money that you are not willing to lose. Options involve risk and are not suitable for all investors. The information provided is thought to be correct at time of publication. I may or may not hold or trade any positions in the securities listed in the newsletter. It is possible to lose all or most of your money. Please consult a professional, licensed investment advisor.
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Monday’s Trades
Options Picks
Bull Trades
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