80% or more of my time as a trader is spent building and fine-tuning my watchlist. It is vital to focus on what and why I will trade a symbol over how. And building relative outperforming lists for both strength and weakness was the key. Here is this week’s list.
Bitcoin consolidation is strong! We spend a bit of time there, then we check out altcoins (which have some life here), then we look at Gold markets, then we close on a personal note and a request for the group.
I’m looking at Boeing, and while I recognize it rallied on positive news today, I can’t help but notice it rallied directly into resistance. I’m looking at the area of $370 as a key resistance zone and I have some options strategies in mind for how I will trade the move. Let’s check them out.
The indexes were able to hold onto their bid from early this morning, and we saw market leaders showing signs of strength into the close. While most of the day was choppy with back and forth action, there were important signals flashing today. Let’s look at AMZN, COST, KO, XLP, BA, PYPL, and more.
After a up day in the market, what am looking to buy? Nothing. What am I looking to short? A handful of names. Here’s what’s on my Radar.
Where are the opportunities in a Tropical Storm heading towards the US? While we hope it doesn’t come near anyone, there are setups that trigger with weather. Also, today’s rally sets up relative out-performers to the downside for us, and the chop continues in ES and NQ but YM, IYT, and RTY continue to deliver winners.
Facebook was down more than 2% today, and based off these patterns I think you might have a few bulls that are stuck. If that can fuel a move lower, this standard butterfly should be a good way to participate in the move.
