Wednesday, December 7th, 2016

Sept Trade update – Technical Analysis

NDX bounced off its 50 day moving average at 1877 levels and RUT bounced off 720 levels at its 200 day moving averages. Had we broken down, than we could be seeing some serious downturns here and the whole market would have turned bearish. The good news today is that my McClellan Oscillator and Summation Index has a reading of -20 as I write before the market close. These are moderately oversold levels and may give us some uptick.

APPLE trade was closed today. Apple is forming a bull flag and if it breaks down below the channel its bad and bearish news. It can severally hurt our profitable position. However there is nothing wrong if you change your market opinions and re-enter on a dime.

 BUY AAPL SEPT 160 PUT SELL AAPL SEPT155 PUTS  Net debit= 0.73 cents   

 NET PROFIT 0.21/5= 4.2%

Initial Trade

SELL AAPL SEPT160 PUTS BUY AAPL SEPT 155 PUT    Net credit= 0.94  Margin 5.00



Comments

3 Responses to “Sept Trade update – Technical Analysis”
  1. Chandan says:

    She is beautiful! I’ve been ceknhicg every day to see if you’ve posted anything and this is so worth the wait. Jacob and Callie’s wedding is next weekend and we will be missing your special touch. Little Ms. June should have some beautiful pics during her life.

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