Pre Market OCT 22, 2024

Stocks are struggling here in the Pre Market today

GE missed, they are down about 5% here
The best part ( in my belief ) is that with the options strategies we use here at theoptionscoach.net we know our possible losses down to the penny before we ever enter. Having done Verticals like I speak about often we are in good shape with no worries here, 5% drawdown won’t affect us adversely. It’s not what we would of liked to of seen but we are fine
NNE did a “offering” I hate those, lol…. it’s down over 7%
To me offerings are like lies, they run the stock up to only to do a rug pull on investors without notice
I mention that because it was the Nuclear stocks that were all the rage last week

Oil stocks are back in play. Investors that have been around for awhile might remember this kind of a rational pattern and say they have seen this before. There could be some good day trading opportunities today with oil

I’m not sure how, where or even when it started but there is this saying in the markets
Any time that a Monday is rocky, not bloodbath just selling pressure, this saying always comes out, like as if on cue, ULTRA OPTIMISTISTIC and pre rehearsed… They say ‘Tomorrow is turnaround Tuesday” !!!!!!
So far we are not seeing that…. STOPS are always your friend, use them

S+P Support is now at 5,785
Time to grind

The Options Coach