The Electric Slide

Hey there traders, how are you today?
If your new here welcome
The markets clawed back some gains today
$DJI ( ▲ 0.64% )  
$SPY ( ▲ 0.51% )  
$QQQ ( ▲ 0.44% )  
$IWM ( ▼ 0.31% )  

If you were around in the 80’s ( only the greatest decade of all time everrrrrrr!!!!! ) you rock
If you weren’t, I’m sorry about your luck 🙃 
“Back in the day” there was a song that was played at every wedding reception in America
Your skin color, your ethnicity, religion, none of that mattered
It was “The Electric Slide”
If your too young to know about it, ask your mom, I promise, she’ll know….

Well this morning $GE ( ▲ 0.41% ) or “General Electric” didn’t have its best day
It slid alright, it slid right on off a cliff. I’ll be honest I was a little surprised that it failed to hold $300.00 much less the $305.00 it was trying for. If it doesn’t hold here at $295.00 the next area of Support is at $285.00. The Volume today was strong
The good side is it might not have much selling left
The bad side is, well it closed down over 7%…. Ouuchhhh
We’ll be watching diligently for any turn arounds at Support

$CASY ( ▼ 1.0% ) we never got our entry today
What we like about it right now is how clean the selling is
Almost systematic as in profit taking from its recent rise
If you recall last week I spoke about it retesting the bottom of its box
It’s doing so now
I have no doubt we’ll be seeing a fresh entry sometime soon

$GOOG ( ▲ 1.57% ) yes it closed green, but we would of liked to of seen more here
$340.00 is the price to watch at the moment, if it slides here $325.00 should be viewed for major Support

$NVDA ( ▼ 0.64% ) I said it 2 weeks ago, I said it last week, I’ll say it again today
Something, something, something is going on here
This sucker is wound up tight, and we like that
We still have 5 weeks until earnings and the $195.00 area is now in view

Traders, I live in the Midwest, many of you live in areas that are going to get hit starting tomorrow night by the “Arctic Blast”
I’m not concerned if the power goes out here, I have firewood for days
Food, can cook outside on the propane
Not everyone is this set up, get your stuff together before it hits, bring those pets inside, take care of yourselves and check on your people


The Options Coach