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$VIX - Something is brewingIn my previous post, I outlined where $SPY rejected off the bear flag resistance. You'll see that those two times correlate with the two times $VIX tested pennant support. With the third VIX retest, we may see $SPY near my gray TL of ~$400 (see related idea linked). I'm still expecting another leg down, and will take a short position if I see optimal R:R (I'll update). No doubt, today was a boring day for $SPY. As I outlined in my update above, staying patient and understanding the right time to execute is what'll get you the W. Good luck!
TVC:VIX
by theapearmy
$SPY - Watch for another leg downI plan to WIN on this upcoming trade with optimal risk-to-reward: I pointed out yesterday that we'll see slow upward movement on $SPY. I'm still expecting another leg down, and will take a short position if I see optimal R:R (I'll update). In my subsequent post, you'll see that the two times $VIX tested pennant support, $SPY rejected off the bear flag resistance (in this graph). With the third VIX retest, we may see $SPY near the gray TL of ~$400. I'm waiting for this likely scenario to take my short and am holding my long stance.
AMEX:SPYLong
by theapearmy
GOLD Barrick Gold Options Ahead of EarningsAfter we hit the 1st price target in the last chart: Now you should know that GOLD, Barrick Gold Corporation, is the usual suspect against the higher inflation numbers. Looking at the GOLD Barrick Gold options chain ahead of earnings , I would buy the $18 strike price Calls with 2023-3-17 expiration date for about $0.81 premium. If the options turn out to be profitable Before the earnings release, I would sell at least 50%. Looking forward to read your opinion about it.
NYSE:GOLDLong
by TopgOptions
MSFT still respecting key levels (options)Trading options based on key levels to take profit can be an effective strategy for investors looking to capitalize on short-term price movements. These key levels, also known as support and resistance levels, are often identified by analyzing historical price data and identifying areas where prices have previously stalled or reversed. By entering trades at these key levels and setting profit targets accordingly, investors can limit their risk and potentially realize gains in a shorter period of time. However, it's important to remember that trading options involves risk and investors should have a solid understanding of options trading and market analysis before attempting to use this strategy. I created these key levels on MSFT in December and they still hold true today. Red levels are daily levels, yellow are hourly levels, and orange are your intraday levels. By my estimation, MSFT looks like it will bounce and find resistance at $260, but if it breaks through, it should go to $264 next. However, if MSFT breaks down tomorrow, we should reasonably target a move to $253 and a further move would go to about $247. Todays price action was lackluster. There was a nice trendy move at the beginning of the day but it almost completely reversed itself. Watch the wavemaster indicator on lower timeframes for a sign of what is to come next. Right now, I see us in the middle of a range with a higher potential we bounce tomorrow vs go down.
NASDAQ:MSFT
by bitdoctor