Good week given the opportunities that we were actually given. One important take away is how patience was rewarded. The start to the week I kept preaching not to chase. Options are not friendly to a still market and especially one that suddenly pulls back. Although we only came away with small profits, I’m pretty...
One of the hardest things to do as an options trader is not chase breakups that technically look great. Often traders concentrate just on making money and forget that not losing money is more important to survival; and as we know, options have no mercy. In some regard, even though last week was only minimally profitable,...
This was one of two premium posts for members posted before week starting 3/21/16. Last week I had a very clear bias as to where the market was likely headed. Next week isn’t as clear cut. I think there is still more upside in this current cycle as breadth has kept up very well with […]
This was one of two premium posts for members prior to week starting 3/21/16. Last week the open interest saved us from getting long some of the momo’s that looked like they were going to break out. Sometimes the open interest is just a way to assess risk to reward. With SPY, it went ex-dividend […]
Last week here I clearly laid out a bullish scenario backed by solid reasoning. I summed up my thoughts with this: In sum, current breadth and the weekly MACD cross suggest further upside next week. Given the market is overbought it may pause or slightly pull-back, but the evidence at hand supports buying a dip or consolidation. With […]
Last week the open interest saved us from getting long some of the momo’s that looked like they were going to break out. Sometimes the open interest is just a way to assess risk to reward. With SPY, it went ex-dividend and was left with the high calls at 205 and 206. SPY closed at...
Last week I had a very clear bias as to where the market was likely headed. Next week isn’t as clear cut. I think there is still more upside in this current cycle as breadth has kept up very well with price. However, I do believe that there is a shakeout coming before higher prices...
Last week here I made the case for the bulls and summed up my post with this “In sum, the expansion in breadth with price supports further upside over the next few weeks and suggests taking on a buy the dip mentality. However, the current overbought levels and technical resistance may lead to a pullback or […]
Fairly volatile week. In the end, the bulls had the edge and the dips were bought, as I mentioned was the bias going into the week. We were very patient and very disciplined – thus, rewarded. Next week is monthly OPEX so the majority of the open interest will not change and will have more...
Last week once again proves that patience is really key to profits. Thanks by the way for those that directly contacted me to share how well you did last week. I am very pleased. Next week is a VERY heavy week. There is the BOJ, FOMC and it’s OPEX. Furthermore, although this seems silly, college...
This was one of two premium posts last weekend for members. Last week once again proves that patience is really key to profits. Thanks by the way for those that directly contacted me to share how well you did last week. I am very pleased. Next week is a VERY heavy week. There is the […]
This was one of two premium posts last weekend for members. Fairly volatile week. In the end, the bulls had the edge and the dips were bought, as I mentioned was the bias going into the week. We were very patient and very disciplined – thus, rewarded. Next week is monthly OPEX so the majority […]
Last week here I showed why bulls were in charge and described that there could be a pullback in the short term (that should be bought), but that if price got over SPY 197 then shorting should be avoided and price would likely see 200 very quickly. The exception ended up the rule last week. […]
Last week I posted three scenario’s and of course the least preferable one took place, which meant we didn’t have much opportunity to buy the dip. In the end it didn’t matter and we were able to find some gems that provided nice returns. Lately I have really been trying to stress patience and practice it myself....
As of now the bulls have the edge. The market is in a tough spot because going long at these levels doesn’t offer great risk to reward and yet shorting too early (especially with options) leads to pain. Going out essentially flat with a couple longer term swings feels the most comfortable and gives us...
Performance Chase?
Last week here, I outlined reasons why there was likely more downside than upside to be had last week. In the end, there wasn’t as much downside as I had anticipated, but anyone that chased what looked like a breakout early in the week likely ended the week in disappointment. From last week: “In sum, based on the […]
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