Market Analysis Follow-up  SPY keeps pushing higher, oddly enough on no/low news days like today, topping off at 520.89 in post market activity. Pundits report Unemployment Claims activity rose more than expected to an 8 1/2 month high, bolstering optimism of a sooner interest rate cut. Our trades are as follows: Pick of the Day: 518 calls from 3.90 at 9:30 to 4.14 at 10:05 for its 6% gain Out of the Morning Gate: 517 puts from 1.37 at 9:40 to 1.46 at 9:41 for its 6% gain DTS Signal: 519 calls from 3.74 at 10:12 to 3.93 at 10:37 for its   5.1% gain Scalp: 30 518 calls from 3.90 ..read more

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May 9, 2024 Today’s Selection SPY240517C519 Disclaimer: Options trading is risky. You alone are responsible for your own trades. Read Characteristics and Risks of Standardized Options before trading. Reading the Code Example (Not Today’s Selection): SPY240419C501 SPY: stock symbol 24: expiration year (2024) 04: expiration month (April) 19: expiration day (19th) C: C for calls, P for puts 501: strike price (501) Trader Rules: Rule 1: We look to buy within the first 2 minutes of receiving the trade. If you missed the time window, hold off until you get the next trade. These trades are meant to ..read more

May 9, 2024 Today’s Pick SPY240517C518 Disclaimer:  Options trading is risky. You alone are responsible for your own trades. Read Characteristics and Risks of Standardized Options before trading. New Rule:  Use a 40% stop loss in the unlikely event the stock turns for the worst. Reading the Code (Example): SPY240517C511 SPY: stock symbol 24: expiration year (2024) 05: expiration month (May) 17: expiration day (17th) C: C for calls, P for puts 511: strike price (511) Trader Rules: Rule 1: We look to buy within the first 2 minutes of the opening bell, soon after the bid/ask spread ti ..read more

May 9th, 2024 (9:00) The only high impact news for today is Unemployment Claims, which reported higher than expected numbers, suggesting the economy is cooling and hence, reducing any imminent threat of rising interest rates. Translation: SPY is moving up. Forward looking, I anticipate this northbound trajectory to continue. My dime’s on calls, although you may see a minor retracement first.   Resistance: 517.50 Support: 516.98     Today in History: May 8th, 1981: an assassination attempt was made on Pope John Paul II’s life in Spain as he was shot and wounded by Mehmet Ali Agca ..read more

This story is too entertaining to not distribute. One client, whom I will call Lester (name changed to protect the guilty), took our Ultimate Training Course many years ago. This is a program that takes you from knowing nothing to being able to assess the markets by using fundamental and technical analysis. Then, you can determine your best strategy, enter at the best times and exit trades for consistent gains. It also enables you to repair positions, should the market winds suddenly change. We even help you set up your Schwab Think or Swim charts and guide you through Tastytrade, should that ..read more

Market Analysis Follow-up  Sometimes, keeping it simple is the best approach. We saw the premarket drop, bounce off 515, double bottom, upward diverging macd and an inevitable rise, which SPY did quite nicely, breaking through its pivot point before the closing bell. As I mentioned in the trading room as we got underway this morning, I love these premarket morning drops. Congrats to the many who made money with us today. Our trades are as follows: Pick of the Day: 516 calls 4.33 at 9:33 to 4.59 at 9:46 for its 6% gain Out of the Morning Gate: 516 calls from 4.35 at 9:36 to 4.61 at 9:46 fo ..read more

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May 8, 2024 Today’s Selection SPY240510C516 Disclaimer: Options trading is risky. You alone are responsible for your own trades. Read Characteristics and Risks of Standardized Options before trading. Reading the Code Example (Not Today’s Selection): SPY240419C501 SPY: stock symbol 24: expiration year (2024) 04: expiration month (April) 19: expiration day (19th) C: C for calls, P for puts 501: strike price (501) Trader Rules: Rule 1: We look to buy within the first 2 minutes of receiving the trade. If you missed the time window, hold off until you get the next trade. These trades are meant to ..read more

May 8th, 2024 – corrected for Resistance (9:00) Futures are currently down as Feds comment on the likelihood of keeping interest rates at their current levels for an extended period of time in their determination to bring inflation down to their 2% target. Forward looking, SPY dropped in premarket to its pivot S2 but looking like it has found support on shorter time frames. I expect this stock to work its way back up to 517 before long, hence looking at calls.   Resistance: 517.50 Support: 514.93     Today in History: May 8th, 1945: Following Germany’s unconditional surrender (a ..read more