This weeks candle on the SPX looks like it might finish above that 20 month SMA (gold line), which would be a bullish indication. I might have to change my sentiment - but not yet.
♦ It was a gorgeous day outside - needless to say no trading.
♦ No trades planned for me, but COST is setup for a Bullish trade.
♦ Maybe PCLN will make a nice move up today so I can make a few bucks on my Bull Put.
There are several reasons for traders and investors to be pessimistic and there are several reasons for them to be optimistic. The market moves up and the market moves down. That's incredibly insightful, isn't it?
♦ Opened a DEC 1260/990 Iron Condor on RUT. I'll be looking to take profits around 50% gain.
♦ If MACD cooperates on LNKD▲, I might do an OCT 50 delta.
♦ NDX looks like it might be ripe for a NOV2 20 delta (or OCT 50 delta today only).
♦ Exit PCLN▲ today?
Now that SPX has closed above 2000, we will need to see this week open AND close above 2000 in order to turn sentiment Bullish.
♦ No trades.
♦ NFLX has earnings this week. Although they are not on my A+ list (they were), there is a lot of buzz out there. Maybe on Wednesday a 50 delta Bull Put?
♦ I'm interested in 50 delta CSSv2 trades on: COST▲ LNKD▲ and PCLN▼, but I might wait until later in the week.
♦ Looks like TSLA might make a move up today: I may exit my Put Calendar.
Yesterday SPX managed to close above its open, but what a roller coaster ride! SPX is right at short-term resistance and looks to possibly pull back a bit today. TSLA is moving into the Bear Channel I had bet that Put Calendar on.
♦ No trades.
♦ Still looking at Bear Calls on SPX and NDX.