…But the thought process is better. At least that’s been my experience over the past few weeks. Let’s cover a few names that still have great potential, a few points of management in others, and the spreads I’m looking to get into tomorrow morning.
It’s often difficult to trust and follow the process when it runs into a more difficult trading environment, but there are tactics I use to help keep me on track.
Patience pays off and the watchlist grows as the market breathes a sigh of relief.
Tomorrow we have two major events on the calendar and the implications for equities and the US Dollar are significant. Here’s a play for that event in today’s video: Short euro via FXE puts.
Much of my watchlist is based on a messaging shift from Powell as oversold buy levels and overbought short levels are reached and tested.
Despite the selling that the market has seen over the course of the last 6 weeks, McDonald’s has held up swimmingly. I’m looking to this name to sell some premium, once the market starts climbing higher.
The indexes were hit by another round of selling today, in what seems to be a market with very little buyers (yet). I still have my eye on a potential short squeeze, but for now, the path of least resistance remains down and the most concerning to me is the hit the FAANG stocks are taking. Let’s look at AMZN, FB, MSFT, ADBE, GOOGL, and some of our honey badgers, MDLZ, MCD, SBU, and more.
