We did not play the market as we had to breathe, and let these oversold conditions breathe. The 3 p.m. hour being the most key and important I go online always at 2.30 or so to see where the Dow has been playing.
Yesterday everybody was tired, no one was ready to "go more" and the market held on. But the 3 pm. boys took us up, and we're now hitting good resistance lines. It's exciting, as we have bias that could actually conclude now and a stronger upside.
So we'll be cynical for a day. Watch futures carefully. Any movements to the put, and if risk oriented, buy our new signal for a day trade, but high risk.
We've had a great week. Another day up shows we are truly on the next cycle.
It is important to note that Gold is falling, for the short term, while the market slightly advances. Gold is also oversold, and a surprising downside could occur, one more test of support lines, as low as 9875. We add this to our Dow Projections. There is enough unsteadiness that a whipsaw surge returning FEAR could occur. We offer a day trade to the put today, not for the faint hearted.
Private employees toil 13.5 months to earn what federal works do in 12.
Because so many people lose money trading options people believe it is option trading that is wrong, not them. Options are just numbers, and it's very possible to make great profits on them.
It's this simple.
How to Trade:
1. Set stop loss and profit goals in advance.
2. Follow the rules you set
3. Follow the $'s you were willing to invest, and do not invest more or less
4. If you start losing too much, stop trading and paper trade again
5. "Fall in love" with the bid/ask of a specific STRIKE point while it is within trading range, and only follow that position. Make your money on an option you KNOW
6. Keep your emotions out of trading.
7. Hide 10% to 15% of any profits immediately and put in a separate account. Lock profits away from any "gambler" in your character.
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