This is the video recording of the August 2023 Mid-month Conference Call.
Swing Trader Pro: Afternoon Briefing (08-23-2023)
We saw a nice bounce in the market today.
$NVDA reports after the bell, so that will have some importance tomorrow.
Dollar Down? Buy the Pound!
From the Desk of Ian Culley @IanCulley
The US dollar sits atop the heap.
Major global currencies, including the Australian dollar, the New Zealand dollar, the Japanese yen, the Canadian dollar, and the Singapore dollar, are limping lower against the greenback.
The long list could grow in coming sessions as momentum builds behind a sustained USD advance.
While the evidence suggests we lean in that direction, I always prepare to take the other side of a trade if and when the data changes.
So, what’s the best way to play a falling dollar?
[Options] Selling Premium in Microsoft
At the risk of sounding like a broken record, I’m continuing my theme of the past week of looking for opportunities to sell premium in mostly delta-neutral options trades.
“Delta-neutral” basically means I’m looking to collect income in sideways consolidations while the broader markets sort out this current correction.
Not only is this a good tactical bet for sideways, sloppy, and messy markets, but it also provides nice portfolio diversification if you have a book of long positions like I do.
We’ve got a well-known mega-cap stock to use as our vehicle today, so let’s get to it. [Read more…]
Swing Trader Pro: Morning Briefing (08-23-2023)
From the Desk of Kimmy Sokoloff
The dollar is rising, and it’s above its 200-day moving average. $SPY is still under resistance at 440.60.
I’ll be truthful, not many names are interesting to me. Retail is taking a beating.
Maybe we can bottom-fish, although it’s very risky.
How Do You Stay Sharp?
The longer I’ve been in this business of trading, the more I’ve come to realize that “get better at smarter trading” is not the answer to the question: “How do I make more money as a Trader?”
Yes, we can all be better at regime detection, trade selection, strategy selection, optimal position sizing, risk management, and profits management. There will never not be room for improvement in these realms.
However, to me, the real answer lies somewhere off the charts. Away from the screens. Outside of our office or wherever we get work done.
The answer is located someplace closer to where we unwind. Where we exercise. Where we meditate. Where we reconnect with the important people and places in our lives. Where we rejuvenate our souls.
It’s becoming all too clear to me that one of the keys to optimal performance is to make sure our bodies and minds are right. And that ain’t gonna happen while hunched over a computer screen or mobile device.
The key to optimal performance is [Read more…]
Swing Trader Pro: Afternoon Briefing (08-22-2023)
It’s a very sloppy and choppy market, and it’s hard to trade.
$SPY closed its opening gap up.
Swing Trader Pro: Morning Briefing (08-22-2023)
From the Desk of Kimmy Sokoloff
On Monday morning I said $SPY could have potential to 441, and on Tuesday morning we’re there.
That was a nice reversal yesterday off the 435 level, and now the question is will we push to 444.
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