S&P 500 Sector ETF Momentum Rankings

I replaced the RSI-3 with a MACD 1,5,1 so I can screen with the Average True Range and 5-Day Moving Average for 1st Choice, 2nd Choice, 3rd Choice and 4th Choice stocks.
 
I went back to LRCs and Weighted Alpha. I figured it was simple and effective.

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lightninboy said:
I'm thinking trading without using options is dumb. You don't know whether to stay in or get out. You get out to save money and lock in a loss of money. With options you can lock in a potential loss smaller than you'd have without using options and still have potential profit and you have to get out depending on the expiration date.

I'm thinking of using a system somewhat similar to Chuck Hughes.

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do you have experience with chuck hughes?
 
All I know about anybody is what I see on the internet. BestStockStrategy, Core Position Trading and The Blue Collar Investor are about the closest to what I do now.
 
lightninboy said:
All I know about anybody is what I see on the internet. BestStockStrategy, Core Position Trading and The Blue Collar Investor are about the closest to what I do now.
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i was thinking about buying deep itm calls with delta close to 1 and buying atm put and selling put credit spread to finance the put. what do you think? i am nervous to do chucks thing without a put.
 
I never subscribed to anybody or did anybody's system exclusively (I had lost too much money to spend money on instruction). I sell puts on Weekly Options and haven't had to take assignment yet. I did get out of a lot of SPY puts about March 18 when I was starting but it turned out I wouldn't have had to, which kind of proved that the Wheel system is good. BestStockStrategy/David Jaffee used to say you've got to sell options to make money. Lately he has been doing credit spreads, but I don't like spreads of any type. When you do a spread you are buying an option. I watched some Core Position Trading/John Greathouse videos. He says Chuck Hughes and The Blue Collar Investor/Alan Ellman were influences. Alan Ellman does mention the standard deviations that I use. Oh, yeah, I figure Lee Lowell's book is about the only options trading book you really need.
 
Set the strike price on the Moving Average Envelope 1,22 or 1,33 that corresponds with the LOWEST Average True Range 22 or 33.
ETFs generally can’t compete with stocks, so don’t mess with them.

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Right now put selling is profitable as it's going up, but don't take it for granted.
The market has fooled the best in the business.
 
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