Pre Market NOV 21, 2024

So far stocks are stable, and some are even slightly “greenish” here in the Pre Market

NVDA was pretty much a wash
There were huge differences in Options this time VS the earnings back in July
Yesterday I showed the Options contracts numbers for the week, it was far tighter than they were back in July. Seasoned Options traders know that “saved the day” from NVDA not going down further yesterday.. It’s barely down less than 1% this morning
Fun Fact:
NVDA’s Market Cap is greater than the GDP of
Russia
Canada
Italy
Germany
France
And the entire U.K.
Not combined, just each one

Energy stocks aren’t always “sexy” They typically move slow, and well, they typically move slow. We can’t dismiss the energy sector symbol XLE as it’s now at the top side of a Cup w Handle formation. We are in wait and watch mode here. It needs to form a handle first , that means a pullback. The market may not be tanking, but it is slowing down, these defensive plays can be of use during those times

Right now COST is a go
META is also a go
( courtesy reminder we don’t buy on red days )
Those have both been highlighted with the strategies shared here at theoptionscoach.net over the past 2 weeks and we will be talking about them more soon

I have friends down in Colombia, South America
When they are getting ready to have a heavy or busy work day with lots of tasks they see as being productive, they say:
“Muy Empresarial” or “Very Business”

NVDA earnings had the markets on hold, that’s over now
It’s time for us to get back to “Very Business”

S+P Support is now at 5,872
Time to grind

The Options Coach