March has started off on shaky ground.
The $SPX tested the 200-day moving average at 3,940 again.
It bounced, but we’ll see if it can hold this level.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
March has started off on shaky ground.
The $SPX tested the 200-day moving average at 3,940 again.
It bounced, but we’ll see if it can hold this level.
by Ian Culley
From the Desk of Ian Culley @IanCulley
Markets continue to churn sideways, frustrating most investors.
Instead of allowing the market to dictate your emotions along with the herd, let it simply highlight the path of least resistance. That’s what I’m doing.
Today, I want to share with you two ways to trade the British pound – regardless of its next directional move…
If stocks are going higher from here, Meta Platforms $META (the cool kids call it “facebook”) is likely to lead the way.
We’re going to leverage some short puts to pay for the potential of unlimited upside if we get our timing right.
And the best part is, we’ve got a nearby risk-management level to tell us we’re wrong. And if we are, we’ll likely know quickly.
Check out this chart of $META:
by David
From the Desk of Kimmy Sokoloff
Hello March!
With the futures being up this morning, it’s like yesterday’s close didn’t happen.
We must stay on our toes.
by JC
These are the registration details for our Live Monthly Candlestick Strategy Session for Premium Members of All Star Charts.
This month’s Video Conference Call will be held on Monday March 6th @ 6PM ET. As always, if you cannot make the call live, the video and slides will be archived and published here along with every other live call since 2015.
Here are the details for Monday evening: [Read more…]
by David
From the Desk of Kimmy Sokoloff
The market was all over the place today.
And they pushed it lower the last hour of trading.
I F*d up.
And when I do, I usually suffer the consequences – almost without exception.
But today is one of those exceptions. Thankfully.
Recently, in an effort to fade the rising volatility in the options market arising from the 3-4 week pullback from recent stock market highs, I sold naked puts in a large cap stock – Occidental Petroleum $OXY.
I like the name for a number of reasons, the most prominent being that Warren Buffett (Berkshire Hathaway) has been acquiring large blocks of stock just below current levels. This is support.
So when the broader markets were continuing their slide a couple of weeks ago, I felt $OXY was a high probability bet to hold these levels until the mini-market panic cooled off, and selling premium via $OXY puts seemed like an intelligent way to play it.
So far so good. [Read more…]
by David
From the Desk of Kimmy Sokoloff
February, I won’t be sad to see you go!
It’s been a very choppy month, and, as of now, we look to close lower overall for the past 28 days.