Buy this when it get there....

Do you know what Hall of Fame Rocker Tom Petty and World Renowned Stock Investor Jesse Livermore have in common? Besides that they are both deceased? Both of them were quoted as saying “The waiting, is the hardest part”

That’s how the markets feel right now, like we’re on standby, nobody winning, nobody losing, just stopped, taking a breather? Or taking it all in for what ever comes next? While my crystal ball is still in the shop, I’m leaning a little more towards the “A answer” Not by much, but for now it looks like the market wants to try for more.

When I very first started to learn to day trade many years ago, I had already been stock investing for a few years. I believe that everyone should start as an investor before moving to trading. They are 2 complete and separate animals, and one is far more viscous than the other. If you ever do both yourself you will learn real fast that many of the components are not interchangeable. It’s like trying to put a Ford wheel on a Chevy, yeah they are both cars, but it won’t work. And that’s just with stocks only, we’re not even talking Options yet

This is my real life real time chart that I used day trading CAT today….. The top yellow line sits at the 395 price. The bottom yellow line sits at the 393 price. The dotted yellow line in the middle is what I call “The 50 yard line”
Each bar that you see represents a 47 minute time frame
Every time price bounced off of the 393 area I would buy Options
Every time price hit the 395 area I would sell the Options that I had just bought
That might seem tight to some but it’s those tighter ranges that are more reliable
And trust me, just trust me, it beats digging a ditch
Nothing against ditch diggers, I actually was one in my much younger life

This is SPY. Remember SPY? It’s an ETF for the S+P 500. Right now it’s up out of the top of it’s last box, will it continue north or fall back down? That’s the million dollar question right now. I’m not trying to make day traders out of you or anyone else. My objective is to show that whether it’s day trading, swing trading, or long term buy and hold, “It’s the waiting, that’s the hardest part” Tomorrow is another day

The Options Coach