Weekend nearly over, it’s Sunday and therefore time for another #SundaySwing post here. As always, I’ll painted some charts of tickers from my - nearly - static watchlist as ideas to learn trading #TheStrat and understanding my thoughts as documentation of these for reviewing later.
I hope everyone had a great last week and profited from the absolutly bullish market. After last weeks thoughts if November could bebearish or bullish, the direction was clearly set.
Disclaimer: No advice, instead these are my ideas based on my knowledge analysing the charts for possible swing trades based on #TheStrat. So please always do your own due dilligence before entering a trade.
I posted a full detailed review last week of the October ideas and was surprised about some massive gains some ideas had. If you haven’t read that review. Feel free to read that first and then read on here.
As mentioned above $SPY and $QQQ both hit new ATH last week with a small, really small, downtrend on Friday. But since market looks bullish, infrastructure deal news on Friday I stay bullish. I left the Broadening Formation from last week on the charts to show the we broke through it on the upside into new ATH, which makes it difficult to identify targets.
So both have a PMG 🔫🔫🔫 setup on the weekly but market is so strong that I currently don’t want to think of a pullback.
Options and Expiration
As mentioned above and in my post of October results shown, I go at least 3-4 weeks (12/17 is currently my preferred one) out with expiration on options and not to far OTM if possible. I also trade on a small account and if an option is to expensive for my risk management, I simply don’t trade it. Because, profit is not guaranteed and everything can be lost on those options.
Profits and Stops
I usually target around 25-40% of profits on thos swings and decide during the market hours if I leave a runner on a position or close the entire one.
Would love to get some feedback about this new “format” and if this helps educate #TheStrat, as well as I’m open for any things that will help more. To view the charts in full detail, open them in a new browser window
Also keep an eye on the list from last Sunday, those ideas also have 12/17 as expiration and the triggers for $AAPL are still valid.
$FCEL 11c > 10.00
Currently in an uptrend and normally a stock I don’t trade since it’s below $20. But it was on my list when it was above $20 back in January-March it popped up on my scanner. Also the $10.00 weekly entry trigger is more psychological one, the $9.99 #TheStrat entry is one penny away, so I like the round number more here. Above would be a 2-2u Bullish Continuation on the weekly and monthly 2u is in force. FTFC on M and W is green, so a break of the triggers is FTFC up. The 11c 12/17 expiration is pretty cheap with plenty of time and a great opportunity to profit target is 12.62 and possible 15.55.
$MU 80c > 73.74
Another 2-2u Bullish Continuation is $MU, FTFC up except Friday, so if we break that entry this week FTFC up. Currently 2-2u Bullish Reversal Monthly in force as well, so looking forward to a bullish run with targets at 75.88, 82.25 and 83.09. The 80c 12/17 is my choice if 73.74 triggers on the weekly.
$GE 115c > 109.65
A slow mover with a great setup. Currently inside month green and close last week inside green as well. FTFC is up, so I will give GE a shot if it triggers above 109.65 for a 2-1-2 Bullish continuation weekly and above 110.97 it triggers a 2-2 Bullish Continuation monthly. 114.96 and 119.88 are my price targets.
$AA 55c > 48.65
The next two-letter ticker, green on the month, green on the week and on last Friday, so FTFC is up. Month is 2d but I focus more on the week here with a 2-2 Bullish Reversal above 48.65. First target is 52.13, then 53.90. Monthly magnitude is 57.57 which is far away but you never know and since the 12/17 has 6 weeks of time, this would be my trade here.
$CAT 230c > 209.75
Inside month ad green, inside week and green, you know the deal. Break of last weeks candle is 208.88 but I’ll wait for 209.75 to trigger which is last months inside bar for a 2-1-2 Bullish Reversal monthly with short-term targets of 215.70, 223.76. So I don’t expect that 230c to go ITM but the 12/17 230c is affordable and I’ll close that position if at around 25-40% anyways which should be doable at the second target. We will see.