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After the Open SPX, SPY, DIA, QQQ, AAPL, CSX, and more…posted 3:07 pm
ET
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Pre-market Up: APC, AMD, SEE, EFX, INTU, CCL, GIS, ALB,
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................................................Technical Analysis Focused on Price Action Setups, Trade What You See, Follow Your Rules, Plan the Trade, Trade the Plan, Don't Force the Trade Concepts...Price Action Plus Momentum...©
3 comments:
interesting Market today......
Hi Dave
We notice you are now doing verticals on b/o set ups. We have not been able to watch one of your videos in which you demonstrate how you approach this. We have been considering this for some time but if you enter the vertical before the stock breaks out then you do not know that it is a successful break out. However, if you do a conditional order to enter the trade 20 cents above the b/o candle, then the credit you expect for the vertical when you set up the conditional order is not the same.
Your comments please as this is a strategy we would like to try in paper and see how we do.
Thank you
Bruce & Susan
Hi Dave,
I sold a put on GIS with understanding I would take ownership of shares if price fell to strike or below. I am now owner of 100 shares GIS and o.k. to hold for income generation. Would it be premature to place a covered call at breakeven since I am now underwater? Or consider waiting for GIS to move back to breakeven, then sell a CC to potentially pocket a few dollars of profit. If I wait, the price could further erode. I am o.k. if price drops some more while GIS gets their act together, but do not want to be too aggressive and give up my shares in the event of a strong move higher. Thanks Dave. I miss you at Investools. The place is not the same without you.
Barry
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