Now what?

Stocks did not have their best day today, not even close
The fall started with NVDA and others followed from there

We have been talking about $140.00 being the “Magnet” for NVDA since the start of the summer of 2024. Does anyone want to take a guess as to where it’s price is sitting right now after falling 6%?

Days like today are one of the reasons that employing Bull Call Spreads are so prevalent here at theoptionscoach.net 

Many stocks stumbled today but not all fell. And those that did are picking themselves back up off of their lows of the day

Case in point is CRS. It’s retraced back over half over what it fell
And if one was to look at it’s technical pattern it could be said that it is now creating a Double Bottom with a Handle. That my investor friends is a strong pattern meaning the weak hands have been shook out

When I was in Colombia one of the things we did was go ride jet skis….. It was out on a beautiful lake that was at the base of the mountains…. Scenic for sure
Well I wanted to go to one side of the lake to get a closer look at a mountain that was really extra green and lush. To do so meant I would first have to go through some wakes, some white caps and take some hits from the wind. But when I got through it all, the up close view of the mountain, all of it’s beautiful colors and breathtakingly splendid scenery that’s just not found here in the Midwest, reminded me of why I set out in that direction in the first place

There are NO GAURANTEES in the stock market. NONE, ZERO, the only guarantee is that there are none……
But before we can reach the other side that we seek, we might have to endure some shaky elements along the way

Tomorrow is another day, lets hold up and see what it offers

The Options Coach