Having 2nd thoughts

If there was a headline for stocks today it could be
“Monday NOV 4, 2024, the day that stocks just froze”

Yes there was some price movement today, but everything was on very low volume
If there is any one single thing that the markets hate, it’s uncertainty. I didn’t say volatility, I said uncertainty

And right now the outcome of tomorrows election here in the U.S. is anyone’s coin toss
Stocks might stay “on hold” for a few days until after the election results

SFM, we gotta talk… I have concerns for it here… Yes it’s a stretch from how I have been touting it, and I still believe in it’s future strength, but it’s extended here and did not break through today. SFM closed up over 1.21% on the day but we need to look at where it is at up in it’s channel.
Look at the 2 boxes that are highlighted. Take a good look at them. We are HUGE fans of how SFM has been making fresh boxes that it breaks out of time and time again. But what we have to ask ourselves is is it going to retrace to form a new box or continue it’s march north? To me it looks like it wants to fall and build a new box. Right now, with todays price action I can’t advocate any new adds for it just yet. Should it go north great, if not we need to respect our STOPS if it should hit them from any fresh entries. For anyone that has ever studied the “Wyckoff Method” you know that his belief was that price never makes the exact same price pattern twice. These 2 boxes however look as close to “exact” as I think you can get. I’m hoping to be wrong

The other plays in our Model Portfolio today

GRMN +1.04%
HD + 0.76%
FIS + 0.67%
AMZN -1.50%

FIS beat earnings this morning
Though we mentioned it two months ago we only added it in last night
A continuation north would be welcomed

GRMN we wanted to see it above $200.00 and we got it
I didn’t care if it was $200.01, just be above 200
It closed at $200.29 😁 

AMZN as mentioned last night we don’t add on red or down days. Today was not it’s day

This week could cause some turmoil in the markets, we don’t know
Should any of the names in our Model Portfolio fall we won’t hesitate to rotate them out
If you have positions in your real life portfolios that are currently unprotected, the election is tomorrow, set those STOPS

For those of you here in the United States if you haven’t already, tomorrow get out and let your voice be heard. Go VOTE

The Options Coach