SPX closed above 1230 today.
Are we going to re-test lows tomorrow or will it follow through to the upside? (my 2 cents is follow through to the upside).
My 2 cents: start with stocks with strong fundamentals, especially rate of earnings growth, and then apply some basic TA. It's a strong combination. Trade in the direction of the overall market trend.
A lot of people expected today to be a reversal day and this confirms it... but I always wonder what the market will do when everyone is in the same camp......
:eek: I think Coach built up to 50% over time, after really honing his risk management skills. Are you at that level? If not, your risk with 50% is significantly higher than his risk with 50%. Just a thought.
Starting to look at July positions:
CALL
1350/1375 -- $1.30
PUT
1150/1175 -- $1.90 or
1125/1150 -- $1.30 (better)
1125/1150/1350/1375 is a 200 point spread...
Sounds like you're pretty confident we're not going to break the 1250 support?
Are you looking at any bull calls? I'm thinking calls or bull call spreads on Qs/NDX